Data suggests traders view $46,000 as Bitcoin’s final line in the sand
BTC and altcoins took a severe hit on Dec. 13, but derivatives data suggests traders are watching $46,000 as a signal of whether the current market structure will hold up. Dec. 13 will likely be remembered as a “bloody Monday” after Bitcoin (BTC) price lost the $47,000 support, and altcoin prices dropped by as much as 25% within a matter of moments. When the move occurred, analysts quickly reasoned that Bitcoin’s 8.5% correction was directly connected to the Federal Open Market Committee (FOMC) meeting, which starts on Dec. 15.Investors are afraid that the Federal Reserve will eventually....
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SAND trades below 50 and 200 EMA on the daily timeframe. Price continues to range with little or no volume despite having strong fundamentals. A break above $1 could trigger a relief rally for SAND price. Sandbox (SAND) price has had a rough time recently as price ranges in a daily timeframe channel against tether (USDT). Despite having good fundamentals with so much backing from top investors and partnerships, the price of Sandbox (SAND) has struggled to replicate its run to a high of $8. (Data from Binance) Related Reading: Dogecoin (DOGE) Is On Top Of Whales’ Menu – Here’s Why Sandbox....
SAND was up by over 15% on Friday, as crypto prices rebounded following sell-offs during Thursday’s trading session. SAND fell to a one-week low yesterday, with MATIC, another notable gainer, dropping to nearly a ten-day low on Thursday. Overall, crypto markets are up 1.30% as of writing.
The Sandbox (SAND)
SAND was one of the most notable movers during today’s trading session, as crypto prices rebounded on Friday.
Following a low of $0.9644 on Thursday, SAND/USD rallied to an intraday peak of $1.17 to start the month of July.
Prices of the....
The Bitcoin (BTC) price crash to $74,000 has left traders speculating whether the cryptocurrency has finally hit a bottom. However, a CMT-certified analyst suggests that Bitcoin’s price correction is far from over. He has predicted an even deeper pullback to $38,000 – $42,000, which he identifies as Bitcoin’s final price bottom. In a detailed Elliott Wave-based chart analysis, CMT-certified technical analyst Tony Severino outlines a classic 5-wave impulsive structure that appears to have completed its final leg near $85,000. Severino’s analysis highlights that Bitcoin’s latest....
Ethereum price moved down as forecasted to create a new low. It looks like one more push down is possible as long as the trend line resistance holds. Ethereum price ETH continued to struggle and my view of it moving down further paid well. I think it’s time to book profits if you are trading conservative. For aggressive traders, I suggest to move the stop to break even and wait for a final downside thrust. There is a high probability of ETH/USD moving down further, and testing the $8.20-10 support area where buyers may appear. On the upside, yesterday’s highlighted bearish trend line on....
Bitcoin looks ready to rebound off a critical support level and if this happens select altcoins like BNB, LUNA, MANA and SAND may also attract buyers. Bitcoin (BTC) and most major altcoins have been struggling to recover from the sharp fall seen on Nov. 26. This indicates that traders may be nervous to buy at current levels due to the uncertainty regarding the new heavily-mutated coronavirus strain detected in South Africa.According to a CryptoCompare report, Bitcoin’s assets under management decreased 9.5% to $48.70 billion in November. On the other hand, the AUM of altcoin-based crypto....