How low can Bitcoin price drop if BTC fails to retake $35K soon?
Bitcoin bulls must overcome a major hurdle before new all-time highs can come back into play. Bitcoin (BTC) has seen a turbulent past few days after Elon Musk showed support for the cryptocurrency amid the GameStop fiasco on the equity markets. However, since that tweet, Bitcoin’s price has been correcting after the entire push through Elon Musk was retraced.Since then, Bitcoin’s price is facing a crucial hurdle at the $35,000–$35,200 area before an all-time high test. Once that area breaks and flips for support, continuation toward a new all-time high is likely. Bitcoin doesn’t hold $35K....
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Litecoin price dropped yesterday to record a low of around $1.78. The bearish wave coincided with yesterday's bitcoin price drop. If the price fails to push up above $1.85, we can see litecoin price drop to even lower levels. By studying the 1 hour Bitfinex (LTC/USD) charts from tradingview.com, plotting the 20 hour EMA and keeping the trend line we plotted throughout our yesterday's analysis (look at the below chart), we can conclude the following: Litecoin price dropped below the 20 hour EMA just before the bearish wave took the price down to $1.78. The price has broken out of the....
The hefty drop comes despite a community buying effort scheduled for this morning.
Sunday's bitcoin price panic caused altcoin market caps to evaporate and made most altcoin prices drop as well. The litecoin price bore the brunt of the market's wrath, falling 7% and dropping the Litecoin market cap by almost $8 million in a single day. However, the bitcoin price recovered, which in turn inflated many altcoin prices to previous levels. Nevertheless, although litecoin's market cap grew by 5%, its bitcoin trading pair price failed to recover. Also Read: Bitcoin Price Decline Makes Altcoin Market Caps Bleed. Litecoin Price Fails to Rebound from Bitcoin Price Panic. Monday's....
Ethereum found support near $3,080 and recovered higher against the US Dollar. ETH price is now struggling to clear the $3,200 resistance and the 100 hourly SMA. Ethereum found support near $3,080 and it started a fresh upward move. The price is now facing resistance near $3,200 and the 100 hourly simple moving average. There was a break below a short-term ascending channel with support near $3,210 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue lower if it fails to stay above the $3,150 support zone. Ethereum Price Fails Near $3,200 Ethereum extended its....