Bitcoin price slides 5% as second day of losses costs Ethereum $2K landmark
A sea of red greets traders on Wednesday as blame shifts to leveraged long traders and the need to liquidate their positions. Bitcoin (BTC) extended its price drop on Wednesday amid warnings that excessive long positions needed to be flushed out to allow for fresh gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingviewBTC price barely clings to $56,000 supportCointelegraph Markets Pro and TradingView showed BTC/USD hitting new local lows of $55,760 during Wednesday trading. A second day of more substantial losses for the pair came as altcoins also began to reverse their earlier....
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The hype around the Ethereum network had built up following the announcement that the Merge was scheduled to take place on September 15th if everything went according to plan. The price of ETH had seen a massive run-up off the back of the news, seeing it touch above $2,000, albeit briefly. However, as the weeks have passed, the hype around the Merge has begun to die down as people get used to it, causing the price of ETH to slide. ETH Slides To $1,500 After a tremendous 3-week run, the price of Ethereum seems to have reached a local peak. After reaching $2,000, the downward correction....
Ethereum is primed to move lower in the days ahead as the cryptocurrency slides below $570 for the first time in many days. ETH is expected to see weakness in the near term as it slides below key technical levels with Bitcoin. One crypto-asset analyst recently shared the chart below, noting that Ethereum is moving below range lows in the $570 region. He thinks that as long as ETH holds below $570, the bear case […]
Ethereum started a sharp downside correction below $2,400 and $2,300 against the US Dollar. ETH price is correcting losses, but it is likely to face sellers near $2,300. Ethereum declined heavily from well above $2,400 and tested the $2,000 zone. The price is now trading well below $2,300 and the 100 hourly simple moving average. […]
Ethereum nosedived from the $370 resistance zone against the US Dollar. ETH price is currently correcting losses from $345, but it is likely to face sellers near $355. Ethereum is down over 3% from the $372 high and it even broke the $355 support. The price is currently recovering from the $345 low, but it […]
The crypto market has been losing momentum as the price of Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) start trading in the red. The largest cryptocurrencies by market cap might experience further losses as macro-economic factors keep exercising a negative influence on risk-on assets. Related Reading: Ethereum Price Slides As Staked Token Reaches New ATH Ahead Of Hyped Merge At the time of writing, the crypto total market cap stands at $1.09 trillion after experiencing rejection at the $1.2 trillion mark. This has led to minor losses for Bitcoin (2.2%), and Binance Coin (7%),....