Bitcoin Price Consolidates, Can Move To The Closest Support Line Soon
Bitcoin price has been trading sideways, struggling to break past its immediate resistance level. Over the last 24 hours, Bitcoin fell by 1%, confirming sideways trading. In the last week, BTC has barely made any progress with its price. If the coin continues to stick around the same price level, it could soon be a free fall for the asset. The technical outlook points towards the weakness in buying power. Demand for the coin remains low as the asset fails to move up north. A fall from this price zone could even bring the Bitcoin price to as low as $18,000. At the moment, the $18,900 price....
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Ethereum price tried to rise on its daily chart at the time of writing. Over the last 24 hours, ETH rose by 2%, price action continues to be mundane. In the last week, the Ethereum price fell by 21%. Technical indicators pointed towards continued bearishness. Buying strength declined substantially, which has pushed the price of Ethereum closer to its immediate support line. If buyers do not defend the closest support line, then Ethereum could head for a further decline on its one day chart. For the bearish thesis to be invalidated, ETH has to hop past several resistances. Selling dominance....
XRP Price has met with selling pressure again after it slipped from the $0.37 price mark. The altcoin has been consolidating over the past one week and over the last 24 hours, it lost 1.2% of its market value. In the last seven days, XRP price depreciated close to 8%. Confidence from buyers started to fade given how long XRP has traded below its immediate resistance mark. Broader market weakness has also set it given Bitcoin’s move to $20,800 at press time. The technical outlook for Cardano (ADA) has turned bearish which was seen by the number of sellers in the market. Due to a lack....
Uniswap price displayed almost no movement over the last 24 hours as the coin registered 0.8% downward movement on its chart. UNI was hovering around the $7 price level and was unable to break past its closest price ceiling. If the coin does not manage to move past the resistance level then it could lose its support line. Technical outlook for Uniswap price indicated that could it register further drop on the chart. Move to the above resistance level will be difficult as buyers have exited the market. Increased selling pressure can push Uniswap price to the next support level. Bitcoin....
Ethereum extended losses and tested the $1,550 zone against the US Dollar. ETH could gain pace if there is a clear move above the $1,650 resistance. Ethereum started a downside correction and traded below the $1,650 level. The price is now trading below $1,650 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,660 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if there is a clear break below the $1,550 support. Ethereum Price Extends Losses Ethereum remained in a bearish zone below the....
Solana price witnessed a strong bearish pull as major market coins also depreciated significantly on their charts. The altcoin fell by 6% over the last 24 hours. In the past week, Solana lost 14% of its market value. The bulls were trying to defend the coin at their nearest support level, however, the coin met with a sell-off over the past 24 hours. Over the last few days, Solana was trading sideways above its support level of $34. The recent depreciation on the chart caused SOL to fall below its immediate support level. If Solana price continues to move on the same price trajectory, a....