Bitcoin and Ethereum's Struggle to Recover in the Market Continues Fast!
Author:The situations that emerged with the recovery of Bitcoin and Ethereum in the market;
- Bitcoin’s price in the market continues by not staying above the 40,000 USD support.
- When Ethereum’s activities in the market are examined, it is seen that its price has decreased by more than 5%. Therefore, XRP might decide to visit the USD 0.705 support.
- Depending on the circumstances, AVAX, DOT, DOGE started to experience a decrease of at least 5%, just like Ethereum.
According to the latest current situations and market movements, it is seen that the price of Bitcoin has decreased by 7% and above during the day. These movements, which remained below the support of 40.000 USD, started to show transactions by staying below 39.500 USD during the day. It is observed that the risk continues on the downside.
With this situation in Bitcoin, it has started to gain momentum in large altcoins preferred by many people. It was also seen in the market that ETH declined below the 2650 and 2600 USD support levels. Especially with XRP falling below 0.75 USD, there is a high probability that it can slide lower. Although ADA tries to stay above 0.80 USD according to the latest situation in the market, this situation can change at any time.
Last Minute Drops in Bitcoin Prices
There is a rejection of around 42,500 USD, which is one of the reasons for Bitcoin to start a new decline. The bulls, on the other hand, faced a decline to $39.00 as they failed to hold their ground at the 41,200 and 40,000 USD support levels.
- Depending on the important supports in the market, the declines can go as low as 37,200 USD, which is close to or below the 38,500 USD level. The good thing about this situation is that if there is a drop to the level of 39,800 USD while the declines continue, then there will be resistance. Thanks to the size of this resistance, Bitcoin can start to increase steadily and close to the 40,000 USD level.
Similar Downtrend in Ethereum
Ethereum is facing a decline just like Bitcoin. According to market movements, Ethereum is struggling to stay above USD 2,550 by falling below USD 2,600. With the realization of important supports, Ethereum, which can fall as low as 2,320 USD, can also show closeness to the 2,500 USD level.
- If there is a sudden increase in the market, ETH may coincide with strong resistance around USD 2,650.