- Bitcoin price is trading with a negative angle below the USD 6,400 pivot level.
- Ethereum extended declines and traded to a new yearly low near USD 165.
- BTCD, NAS, PPT and GAS declined more than 15% today.
There has been an growth in promoting stress at the cryptocurrency market at some point of the past 3 classes. Bitcoin slowly moved decrease and broke the USD 6,250 guide. BTC/USD is now trading nicely underneath the USD 6,400 pivot stageand it is able to keep to transport down. Ethereum remained in a downtrend and it tumbled to a brand new yearly low nearUSD one hundred sixty five. different fundamental altcoins like ripple, bitcoin cash and litecoin also are heading south.
Total market capitalization:
Bitcoin price failed to stay above the USD 6,250 support and traded below USD 6,200. Later, BTC/USD recovered a few points and it is currently (UTC 08:20 AM) down 1.6% to USD 6,220. If sellers remain in control, the price could continue to decline towards the USD 6,100 and USD 6,050 levels.
On the upside, the USD 6,300 level is an initial resistance, above which the USD 6,400 pivot level is the next crucial hurdle for bitcoin buyers.
Ethereum price was one of the worst performers since it moved below the USD 185 support. ETH/USD traded to a new yearly low and close to USD 165.
It seems like the price may perhaps continue to decline and sellers could attempt to push the price towards the next major support at USD 150. On the upsides, resistances are visible near the USD 180 and 185 levels.
Bitcoin cash and ripple
Bitcoin cash fell significantly and registered losses more than 12% to USD 410. BCH/USD broke the USD 450 support area to move further into a bearish zone. If buyers fail to defend the USD 400 support, there could be heavy losses in the near term.
Ripple price is down around 5% and it seems like the price is about to test the USD 0.250 support. If XRP/USD fails to hold the USD 0.250 support, the next target could be USD 0.240.
Other altcoins market today
Many small cap altcoins declined heavily during the past few hours like BTCD, NAS, PPT, GAS, NANO, WTC, DGD, REP, FUN, VET, LSK, ZRX and PIVX. Out of these bitcoin diamond declined 15.5% and NAS by 15.3%.
Overall, the crypto market remains under a lot of pressure, which may result in more losses in bitcoin and ethereum. If BTC/USD slides below the USD 6,100 and USD 6,000 support levels, there could be a solid rise in selling in the short term.
Find the best price to buy/sell some of the top cryptocurrencies: