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| 27 May 2024, Monday |

Bitcoin and Ethereum Face Resistance, SHIB Crashes 44% From ATH

Bitcoin price started a minor downside correction below the USD 63,500 support zone. BTC is trading below USD 62,500 and is currently (04:28 UTC) consolidating gains. A downside break below USD 61,200 could spark a larger downside correction.

Besides, most major altcoins are correcting gains. ETH declined below USD 4,600, but it remained stable above USD 4,550. XRP is down over 3% and it is trading near USD 1.20. ADA fluctuates around USD 2.00.

Bitcoin price

Recently, bitcoin price started a downside correction below the USD 62,500 support. BTC declined below USD 62,000, but downsides were limited below USD 61,200. On the downside, an initial support is near the USD 61,500 level. The next key support is near the USD 61,200 level, below which the price might extend losses towards the USD 60,500 support.

If there is a fresh increase, an immediate resistance is near the USD 62,500 level. The next key resistance is near USD 63,200, above which the price might start a steady increase.

Ethereum price

Ethereum price failed to settle above USD 4,600 and started a downside correction. ETH traded below the USD 4,550 and USD 4,500 support levels. It tested USD 4,425 before moving back towards USD 4,550. An initial support is near the USD 4,500 level. The next key support is near USD 4,450 below which the price might test USD 4,400.