Bitcoin Sell-Off Continues — Downside Momentum Builds Across Crypto Market
Bitcoin price is gaining bearish pace below $108,800. BTC could continue to move down if it stays below the $109,500 resistance. Bitcoin started a fresh decline below the $109,000 support. The price is trading below $108,000 and the 100 hourly Simple moving average. There is a bearish trend line forming with resistance at $109,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to move down if it trades below the $105,000 zone. Bitcoin Price Dips Further Bitcoin price failed to stay above the $110,000 support level and started a fresh decline. BTC....
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Bitcoin has been unable to break above key resistance levels at around $23,000. As a consequence, the cryptocurrency has been moving sideways over the past two days while preserving some of its gains over the past week. The slowdown in bullish momentum coincides with an increase in asks (sell orders) liquidity for BTC’s price above its current levels and a spike in BTC’s supply inflows on crypto exchange platforms. On short timeframes, there are over $70 million in sell orders for Bitcoin from $23,000 to $24,000. Related Reading | Crypto Market On The Mend: ApeCoin And Curve DAO Show....
XRP has been soaring in the monthly chart with a 7.2% profit as Ripple continues to expand its corridors worldwide. As of press time, the seventh crypto by market cap trades at $1,01 and records a 10.3% correction in the daily chart. XRP seems to be reacting to the general trend in the market as Bitcoin, Ethereum, and other cryptocurrencies in the top 10 by market cap trend to the downside. As NewsBTC has reported, the derivatives sector has been heating up due to the recent rise in the aforementioned coins. Related Reading | SEC Takes Blow In Action Against Ripple, Will It Impact XRP....
XRP is holding firm above the $2.38 support level after a recent pullback, suggesting that bulls may still have control. As buying pressure builds, traders are watching closely for a potential breakout that could reignite bullish momentum in the coming sessions. Early Strength Fades After Hitting $2.52 Umair Crypto, in his latest market update, noted that XRP displayed initial strength after rebounding cleanly from the 50-day Simple Moving Average (SMA). The price managed to climb to around $2.52 with a solid close on the 4-hour chart, signaling renewed buyer interest and a potential shift....
Ethereum‘s ongoing bullish action hasn’t fully faded yet as the general crypto market builds momentum. While Ethereum’s price has displayed a brief surge, the network continues to show weakness in user engagement, even with recent key updates meant to boost the network’s performance and appeal. On-Chain Engagement With Ethereum Lagging A leading on-chain data analytics […]
XRP has broken past the $1.7 level, signaling a renewed push by the bulls to dominate the market. This critical move has sparked excitement among traders, fueling speculation about its capability for further gains. As momentum builds, the spotlight shifts to whether the altcoin can sustain this strength and continue its upward trajectory. This article […]