Let's take a look at what is happening in the crypto market today, looking into bitcoin and ethereum prices as well as that of significant performing altcoins.
Bitcoin News
Bitcoin price reached it's peaked today at $54,000 zone. It continued in a declined after that and fell even below the $46,000 level. A crucial bullish trend line saw a break below it with support close to $54,500 on the hourly chart of the BTC/USD pair and entered a bearish zone.
After that if declined by close to $10,000 as it tested the $45,000 support level before correcting higher.
The price began a fresh climb and was able to climb above the $50,000 and $52,000 levels. but began another decline quickly as support didn't hold. It declined past $50,000 and fell all the way below $46,000 before the support held at $45,500 and the price began an increase again. As at the time of this report, it was trading above $49,000.
Ethereum News
Just like bitcoin, ethereum struggled with its support recently. It began a sharp decline below $1,850 against the USD. It entered a bearish market when the crypto declined heavily after it broke the $1,850 and $1,750 support levels. A break below a crucial bullish trend line with support near $1,865 on the hourly chart of ETH/USD opened the doors for more losses. It declined below the $1,600 and the $1,500 support levels before increasing again.it cleared above the $1,600 and $1,650 levels but failed to clear the $1,800 level.
It began a fresh decline and moved lower dipping below $1,400 as low as $1,3955 before finding some support and rallying upwards. As at the time of this report, ethereum is trading above $1,500.
Other Altcoin news
Litecoin, Ripple, Bitcoin Cash and most of the other altcoins were affected by the slump. The biggest loser was Bitcoin cash, with a loss of 20.5% in 24hrs, however it gained by 4.2% and is trading above $500.
The next is Ripple at $17.1% in 24hrs. It is currently trading above $0.460. Litecoin was the smallest loser of the three, in 24hrs it lost by 13.7% and is currently trading above $170.
