Connect with us

Technical Analysis

Price Technical Analysis: Top Crypto Lost More Value.

Last updated

 

on

  • BTC is down by 2%
  • ETH is down by 3.5%
  • XRP is down by 2%

1 Day BTC/USD Price Chart

Bitcoin lost more of its value today on growing pressure from the bears. The price of the cryptocurrency has dropped by another 2% and is now trading below the key psychological support of $7000. If the BTC price moves back up above the $7000 price level, it will indicate that it was a fake breakdown, with price trying to retest $7500 resistance level right after. However additional bearish pressure may see the price slip as low as $6000 in the next bearish move.

1 Hour ETH/USD Price Chart

Ethereum lost around 3.5% against the U.S dollar today with the price hovering around $142 mark. It is clearly visible that price is in a falling wedge formation on an hour chart, suggesting continuing fluctuation downward with an aim being to re-test support at $132. However, if the price breaks upward $148 level on good volume above with may well witness its retesting $150 resistance.

1 Hour XRP/USD Price Chart


After falling out of the descending trading formation XRP set a new low at $0.20200. The price pulled back immediately to the levels above $0.22500, but now it looks like it is forming another smaller falling wedge formation on an hour price chart, looking to retest the closest support again. A recent low at $0.21450 may also prove the last bear trap before a trend reversal. An additional signal to the market moving from bears to bulls is the low tail candlestick that was formed on high volume.

Chart source: Tradingview

Image source: Pixabay

Disclaimer: Markets, instruments, and advice on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.

 

RippleCoinNews Newsletter

Keep Up With Blockchain Technology Updates and Ripple XRP Coin News & Price Analysis.

* We value your privacy and will never share your information with anyone.