Can altcoins rise against falling Bitcoin (BTC)?
Coming close to the end of the week, bears have seized the initiative and all top 10 coins have come back to the red zone.
Top coins by CoinMarketCap
BTC/USD
Yesterday, the Bitcoin (BTC) price continued to consolidate in a sideways corridor. After retesting the upper border of the range ($35,000), the pair returned to its lower value ($34,000). Tonight, the bears continued their decline and broke through the support line.
BTC/USD chart by TradingView
In the morning, the decline stopped around the $33,000 mark, but if the bears intensify the onslaught, the price of the chief crypto might roll back to the weak support of $32,000.
Bitcoin is trading at $32,400 at press time.
ETH/USD
Yesterday morning, the Ethereum (ETH) price was able to test the resistance of $2,400, but buyers could not continue the recovery above this level.
In the second half of the day, the price returned to the area of average prices, and late at night, the bears broke through the support of the upward trendline, which kept the pair from a deep pullback for more than a week.
ETH/USD chart by TradingView
As of this morning, the decline has stopped at the level of $2,218, but if sellers intensify the onslaught, a pullback to the POC line is possible.
Ethereum is trading at $2,138 at press time.
LTC/USD
Litecoin (LTC) is also going down, falling by almost 9%.
LTC/USD chart by TradingView
On the daily chart, the 'digital silver' is on the way to the support at $124.This level was already tested before which means that if sellers break it, there is a high chance to see the continued drop to $105.
LTC is trading at $129.79 at press time.
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Author
Denys Serhiichuk
U.Today
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.
