NEO Elliott Wave technical analysis [Video]

Ripple (XRP) is trading downward but holding support at $2.22 at the time of writing on Wednesday, as fear spreads across the cryptocurrency market, reversing gains made from the start of the year. 

Bitcoin extends correction below the $93,000 mark at the time of writing on Wednesday, signaling a cooldown from the early-year rally that touched $94,789 on Monday. Altcoins, including Ethereum and Ripple, are also facing headwinds amid uncertainty in market sentiment.

Zcash remains under selling pressure, extending its second bearish week and trading below $500 with over 2% decline at press time on Wednesday. The privacy coin experiences a consolidation in user demand as shielding pools consolidate.

Bitcoin (BTC) slides below $92,000 at the time of writing on Wednesday after falling to close above the key resistance earlier this week. Institutional demand shows mixed sentiment with alternating inflows and outflows this week. 

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.