Crypto Market Update: Bitcoin’s Shortcoming With $4K Position Causing Major Market Drop, Ethereum At Risk Of Falling Below $130

2019-3-12 19:48

The weekend has seen the market take a dip and at the start of the week, the losses are extending further. After initially dropping below $135 billion, the market has at the time of press dropped to $132 billion. This bearish trend if persistent could see the market drop to $130 billion. The largest altcoin by market cap, Ethereum (ETH) has had one of the steepest drops throughout the weekend and at the start of the week.

While its immediate neighbors on the higher side, Bitcoin (BTC), and on the lower side XRP are recording marginal drops of less than 1%, ETH is down by a little over 2% at the time of press.

For the last couple of days, ETH has been trading in a tight range between $138 and $133. If the asset continues to drop in value, the bears could manage to drag prices below $133 which will put holders under pressure of selling. This could further see a sell-off pulling prices to the $130 price range.

Via Coin360.com Bitcoin’s Inability To Break $4,000 Causing Major Slack

During the weekend, Bitcoin went through a sudden price surge that was meant to see the coin cross above $4,000. Resistance around the $3,980 position prevented this, seeing the coin drag back to $3,940. This was followed by further drops through the weekend and at the time of press, the coin is at imminent danger of dropping below $3,900.

The sudden charge during the weekend from BTC attracted other coins to surge and it is only when the coin was unable to cross $4,000 that things began to go south. It is currently perceived that BTC getting above $4,000 and maintaining above this is a major bullish signal and shows strength in support, A further rise, above $4,200, remains the key target and key signal of a long-term bullish trend.

During the weekend when BTC failed to test the $4,000 position, it signaled weakness with the bulls and showed that the bears are in control. This failure has since caused about major concern among traders and crypto enthusiast, and prove has been the slow reaction from around the market and the continued control by the bears.

When the bulls finally react, we expect prices will try and break the $3,980 resistance position and finally breach $4,000. This will, however, have to be followed by major support ensuring that the coin does not fall back below if a bullish outlook is to persist.

The post Crypto Market Update: Bitcoin’s Shortcoming With $4K Position Causing Major Market Drop, Ethereum At Risk Of Falling Below $130 appeared first on ZyCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market 130 billion drop below causing crypto

market 130 → Результатов: 76


Prominent Crypto Trading Platform eToro Announces United States Market is Opening for Investors

eToro, a popular investment platform, has previously operated in 130 countries but hadn’t yet come to the United States. This is about to change as they have announced that they will be available in 30 US states after they were able to get the necessary regulatory approvals. While the platform isn’t limited to trading only […]

2019-3-7 21:47


Analysts Remain Optimistic Despite Looming Danger Of Low-Interest Sending Bitcoin (BTC) Plummeting

The market has this week taken yet another hit, this time sending the total market cap below $130 billion. While this is bad, the current market situation suggests it could get even worse. Currently, there is contradicting opinion, some analysts like we have reported, suggest that Bitcoin will remain within its current set range of […] The post Analysts Remain Optimistic Despite Looming Danger Of Low-Interest Sending Bitcoin (BTC) Plummeting appeared first on ZyCrypto.

2019-3-5 13:14


Фото:

Ethereum Price Analysis: ETH Turns Bearish as Constantinople Upgrade Looms

Is the Ethereum price tumble from $165 the result of a strong rejection at a crucial resistance or simply ETH and BTC longs unwinding after an impressive weekend rally? 1-Hour Chart ETH tumbled after tackling the $165 resistance but the abrupt correction throughout the market appears to have been the primary reason for stopping its advance to $170.

2019-2-26 10:00


Newsflash: Sunday Crypto Bloodbath Sees $11 Billion Wipeout Within Minutes

On February 24, following an impressive short-term rally from February 21 to 23, the valuation of the crypto market plunged by $11 billion from $141 billion to $130 billion. Several analysts have suggested that the inability of Bitcoin to break out of the $4,200 mark, a crucial resistance level for the dominant cryptocurrency, led most crypto assets to retrace.

2019-2-24 18:25