• Bitcoin (BTC) returned to the previous range after a failed recovery attempt.
  • Altcoins are moving in sync with the first digital currency.

The cryptocurrency market is flashing red again. Bitcoin and all major altcoins are nursing losses on a day-to-day basis with the notable exception of Chainlink (LINK). The coin has gained over 9% amid the bearish market. Tezos, Monday's growth leader, now leading the decline with nearly 7% of on day-to-day losses. 

The total cryptocurrency market capitalization settled at $200 billion; an average daily trading volume stayed retreated to $59 billion. Bitcoin's market share settled at 66.9%.

Top-3 coins price overview 

BTC/USD is hovering around $7,350 during Asian hours; This area is reinforced with technical levels, which make it hard to break. Once it happens, the sell-off may be extended towards the lowest level of the previous week at $7,080. On the upside, the local resistance is created by a combination of SMA200 (Simple Moving Average) and the middle line of the Bollinger Band on the 1-hour chart.

BTC/USD, 1-hour chart


 
Ethereum is struggling to settle above $148.00;  Early Asian growth to $148,30 was reversed as ETH/USDD is now trading at $147.23, which is 1.5% lower from this time on Monday and unchanged since the beginning of Tuesday. The initial support awaits us at the intraday low of $146.60. Once it is out of the way, the next support of $145.90 ( the lower line of 1-hour Bollinger Band) will come into focus.

ETH/USD, 1-hour chart


  
Ripple's XRP tested area above $0.2300 on Monday but returned to $0.2228 by the time of writing. XRP/USD has lost nearly 2% since this time on Monday amid global sell-off on the cryptocurrency market. The initial support is created by psychological $0.2200 reinforced by the lower line of 1-hour Bollinger Band. On the upside, we will need to see a sustainable move above $0.2300 for the bullish momentum to gain traction.

XRP/USD, 1-hour chart


 


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Ethereum attempts recovery following first rate cut in four years

Ethereum attempts recovery following first rate cut in four years

Ethereum is trading above $2,330 on Wednesday as the market is recovering following the Federal Reserve's decision to cut interest rates by 50 basis points. Meanwhile, Ethereum exchange-traded funds recorded $15.1 million in outflows.

More Ethereum News
Bitcoin offers diversity for traditional investors: BlackRock

Bitcoin offers diversity for traditional investors: BlackRock

Bitcoin (BTC) is trading above $60,000 on Wednesday following the release of BlackRock's latest white paper, which addresses some of the top crypto assets' unique advantages to investors compared to traditional asset classes.

More Bitcoin News
XRP pulls back 4% even as Ripple releases details of stablecoin RLUSD

XRP pulls back 4% even as Ripple releases details of stablecoin RLUSD

Ripple (XRP) shared details of its stablecoin project Ripple USD (RUSD) in a blog published on Tuesday. The cross-border payment remittance firm discusses relevant legislation and plans to support the digital asset economy through RLUSD. 

More Ripple News
Bitcoin traders keep powder dry ahead of Fed decision on interest rates

Bitcoin traders keep powder dry ahead of Fed decision on interest rates

Bitcoin retraces slightly, trading above $59,000 on Wednesday, as crypto markets brace for the upcoming interest-rate decision by the US Federal Reserve, which is expected to lower interest rates for the first time in more than four years.

More Bitcoin News
Bitcoin: On the road to $60,000

Bitcoin: On the road to $60,000

Bitcoin price retested and bounced off from the daily support level of $56,000 this week. US spot Bitcoin ETFs posted $140.7 million in inflows until Thursday and on-chain data supports a bullish outlook.

Read full analysis
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

BTC

ETH

XRP