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Bitcoin and Ethereum Drop After Tagging Resistance

The price of Bitcoin struggled to conquer the resistance of USD 52,000 and began a fresh downturn and Ethereum fell more than 5% and tested USD 1,450.

The price of Bitcoin reached close to the main support level of USD 52,000 and began a new decline. BTC broke the support rate of USD 50,000 and USD 48,000. It has even tested USD 46,000 and is failing to rebound above USD 48,000. Similarly, the biggest altcoin saw a fresh decline. ETH did not settle above USD 1,665 and fell above USD 150. 

Bitcoin values began a fresh fall following a failed attempt to clear USD 52,000. A few major supports near USD 50,000 and USD 48,000 have been broken by BTC. The pace touched below USD 48,000, and the USD 46,000 mark was also tested. On the upside, immediate resistance is close to the USD 48,000 mark. Near the USD 50,000 pivot mark, the first big resistance is forming now. 

According to cryptonews.com, on the downside, short-term support is in the USD 46,000 zone. The main support for the collapse is near the amount of USD 45,000, below which there is a chance of a sudden decrease to USD 42,000.

 Ethereum prices failed to settle above the resistance of USD 1,665 and began a fresh decline. ETH broke the level of support of USD 1,600 and USD 1,550. It also broke 1,500 USD and tested 1,450 USD. The price is now consolidating losses close to USD 1,500, with USD 1,550.0 immediate resistance.

 If the price of ether struggles to launch a recovery wave above USD 1,550 and USD 1,600, there may be a sharp downward change below USD 1,450. 

BNB failed to remain above the support level of USD 250 and declined below USD 235. It also checked USD 220 and spiked below USD 225. The price is now back above USD 225, but gains could be avoided by the previous support at USD 235 and USD 242. Near the USD 250 mark, the key resistance is now emerging.

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