TA: Bitcoin Price At Major Risk of A Breakdown Below $20K: Here’s Why
Bitcoin settled below the $21,000 support zone against the US Dollar. BTC is showing bearish signs and remains at a risk of a major breakdown below $20,000. Bitcoin struggled to correct higher and stayed below the $21,000 resistance zone. The price is now trading below $20,750 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $20,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is consolidating above the $20,000 level and might start another decline. Bitcoin Price Faces Sellers Bitcoin price remained in a....
Related News
The recent crypto market downturn triggered a sharp decline in the Dogecoin price that saw it erase its gains from prior days. However, this move has also exposed a critical level that the cryptocurrency must hold if there is to be any hope of a recovery. As with any critical support level, holding above it […]
SOL price gained 75% in the past two months, but technical analysis suggests it could be an elaborate bull trap. Solana (SOL) price rallied by approximately 75% two months after bottoming out locally near $25.75, but the token's splendid upside move is at risk of a complete wipeout due to an ominous bearish technical indicator.A major SOL crash setup surfacesDubbed a "head-and-shoulders (H&S)," the pattern appears when the price forms three consecutive peaks atop a common resistance level (called the neckline). Notably, the middle peak (head) comes to be higher than the other two....
Ethereum classic price managed to correct higher recently, but remained below a major resistance area, which poses a risk of losses in ETC. Key Highlights. Ethereum classic price managed to recover a few points against Bitcoin, but may fail to sustain gains. There is a support trend line formed on the hourly chart of ETC/BTC (data feed via Simplefx), which may be cleared by sellers moving ahead. A break below the trend line support may ignite a breakdown in ETC/BTC in the short term. Ethereum Classic Price Support. Ethereum classic price ETC after trading as low as 0.0025BTC versus the BTC....
A popular crypto analyst has explained how the Bitcoin price could be at risk of further downside based on the current distribution of BTC supply around the price. This Bitcoin Price Range Holds A Critical Supply Barrier In a recent post on the X platform, prominent crypto pundit Ali Martinez discussed how the price of […]
After a turbulent month, the Dogecoin price looks to stabilizing just around the $0.2 level, and it continues to show strength at this level. However, there are some developments on the meme coin’s chart that suggest that there could be some bearish headwinds that could lead to another crash. Crypto analyst MyCryptoParadise outlines this in a recent analysis, showing the possible directions that the Dogecoin price could be headed in as the market unfolds. Dogecoin Price Is Facing Strong Resistance The first thing that stands out is that the crypto analyst explains that the Dogecoin price....