Bitcoin and Altcoins: High risk of further losses

Bitcoin and Altcoins: High risk of further losses

Use of Bitcoin (BTC) network is approaching all-time high

Bitcoin price could not rise above $ 10,800 and fell below $ 10,500.

Ethereum traded under the $ 220 support and the ripple price broke the $ 0.320 support.

NEXT, ABBC and TRX have fallen by more than 12% today.

The bitcoin price recently attempted to break higher than the $ 10,800 resistance level. The bulls, however, failed to gain momentum, resulting in a bearish response of less than $ 10,500. BTC / USD fell by more than 4% today and it seems that in the short term there may be more losses below $ 10,000. Similarly, many important altcoins, including ethereum, ripple, EOS, bitcoin and litecoin, have recently declined and traded under a few key supports. ETH / USD traded under $ 220 support and XRP / USD broke the main $ 0.320 support.

Total market capitalization

Bitcoin price

There was a new bearish reaction to the bitcoin price after it had not surpassed the $ 10,800 hurdle. BTC / USD broke the $ 10,500 and $ 10,250 support levels to enter a short-term bearish zone. It is currently (8:00 AM UTC) en route to the $ 10,000 support level. If there is a downward break of less than $ 10,000, the prize may lose to support levels of $ 9,750 or accelerate $ 9,600.

The good thing is that the initial resistance is close to the $ 10,300 level. The most important resistance, however, is close to the $ 10,500 level (the recent level of breakdown support). Closing more than $ 10,500 could mean a new rise in the short term.

Ethereum price

Ethereum price followed bitcoin and fell more than 4%. ETH / USD broke the main support of $ 220 and even traded under the support of $ 215. The price is now approaching the support level of $ 210, among which the price could review the support level of $ 200.

On the positive side, there is immediate resistance to the $ 217 level. The main resistance, however, is close to $ 220 (the recent support), which could form a strong barrier.

Bitcoin cash, eos and ripple price

Bitcoin Cash price traded under $ 315 support and it is currently struggling to reach the $ 300 support level. If there is a downward interruption below $ 300, BCH / USD can extend its losses to the support level of $ 280. On a positive note, the price for obstacles can now be close to the $ 320 and $ 322 levels.

EOS adjusted its recent profits and it has fallen more than 5%. There was a clear interruption below the support level of $ 4,150, so the price ran the risk of further losses under the support of $ 4,000. The following support is near the $ 3,850 level.

Ripple price could not break the support of $ 0.332 and recently fell below the main support of $ 0.320. XRP / USD drops by around 4% and is approaching $ 0.310 support. If there is a break of less than $ 0.310, the next stop can be $ 0.300.

Other altcoins markets today

In the past three sessions, many cap altcoins started a new decrease and decreased by more than 8%, including NEXT, ABBC, TRX, NEO, BTT, RVN, AOA, HC, LINK, NEX, GXC, BTM, IOST, ATOM and ONT. Of these, NEXT fell by around 18% and ABBC fell by nearly 13%.

Meanwhile, TRX fell after Justin Sun postponed the Warren Buffett lunch meeting.

In summary: the bitcoin price has broken the main $ 10,500 support and there is a risk of more losses under $ 10,000 support. If BTC / USD does not recover from $ 9,750, it can even test $ 9,600 or $ 9,500.

Stay up to date!

Follow us on Twitter and Facebook!

About Shawn Morrison 204 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

Be the first to comment

Leave a Reply

Your email address will not be published.