A look at the performance of Bitcoin and altcoins

After a bullish run in the previous days, Bitcoin lost its momentum near the $6700 level. The BTC / USD pair started a bearish correction and tested major support near $6,400 – $6,450, as declines were protected. Currently, the pair trades above $6,500.

In the same context, Ethereum corrected its decline and tested an important support level at $450 before rising to the upside. In general, the current wave can be considered as part of the correction as long as the price of Bitcoin stays higher than $6,400.

Bitcoin’s price level was high near $6,685 and corrected to a lower level. The famous cryptocurrency managed to break support at $6,500 and tested a significant support at $ 6,400. The BTC / USD pair has a strong interest in buying and currently trades above $6,500.

On the upside, a break above $6,600 resistance could set the pace at around $6,700, which could outweigh the $6,800 resistance level. On the downside, $6,400 support holds the key that will likely test the price at $6,250.

Ethereum’s price was also corrected and traded below $460. The ETH / USD pair tested the support area at $450, which stopped the losses and is currently trading at an upside above $460. On the upside, resistance is seen near $470 and $480. Above that, the price may test resistance against the USD at 500 and on the downside the levels of $455 and $450 are undoubtedly important pillars.

Bitcoin Cash and Ripple

The price of Bitcoin Cash has fallen by more than 5% and is currently trading below the pivotal $800 level. BCH / USD broke support at $780 and is currently trading near $760 support. If the price drops further, it may test support at $740.

Meanwhile, Ripple failed to stay above the support level at $0.50 and fell towards the level of $ 0.48. The XRP / USD pair is currently down by nearly 4% and faces strong resistance near $0.49 – $0.50.

There are a few currencies that recorded gains such as SYS, MANA and STEEM. SYS has been very volatile over the last few sessions. On Binance, a popular cryptocurrency exchange, one SYS was reportedly sold for 96 BTC. Syscoin’s blockchain has been hacked, and more than one billion coins have been extracted into one block, while the supply is 888 million. This led to the temporary closing of the exchange for maintenance.


Be the first to comment

Leave a Reply

Your email address will not be published.