Bitcoin, Ethereum, Litecoin overview: Market back in red, Bitcoin struggles under $3,600
- Bitcoin is trading in a tight range under $3,600.
- Litecoin bulls give way amid continued profit-taking.
Cryptocurrency market is a mixed picture on Thursday. The total value of digital assets in circulation stays above $121B against $122.8B the same time on Wednesday.
All top-10 coins are in red except for Tether. Litecon and EOS are among the biggest losers, while Bitcoin and Ethereum are the best from the worst as the two largest coins are mostly unchanged since this time on Wednesday.
Bitcoin struggles at $3,600
BTC/USD is still under $3,600 handle despite numerous attempts to break higher. The longer the coin sits below this area, the higher the chance for another leg down. The strong support lies with $3,500. Most likely, this area will stop the sell-off and trigger the recovery. On the upside, we need a sustainable move above $3,650 to proceed to a recent high of $3,707.
Ethereum dips below $123.00
ETH/USD dropped under $123.00 handle during Asian hours, which bodes ill with further recovery ideas. We will need to see it back soon; otherwise, $121.00-$120.80 support area will come into view. On the upside, the ultimate target is $125.50. However, it seems to be out of reach currently.
Litecoin gives back ground
LTC/USD is one of the biggest losses. The coin is down over 5.5% on a day-over-day basis to trade at $41.00 at the time of writing. Litecoin average daily trading volumes exceeds $1B, which is nearly twice as high as the long-term average.
Author
Tanya Abrosimova
Independent Analyst
