Bitcoin News

Story: Bitcoin Goes Into Red the Rest of the Market Follows

By Dan Saada

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The price of Bitcoin was down by 5% in just 24 hours.  Thus, it is now hovering somewhere around the $3,500 mark with investors worried about dragging on with the bear market.

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The upgrade of Ethereum was delayed in the past week.  The hard fork was delayed in response to the news about the bug. Ethereum is now 80% down from its all-time high.

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Mati Greenspan opined that we are dealing with a flat market and that individual token development is attracting more attention.

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While cryptocurrency enthusiasts are hopeful about the price of Bitcoin getting high, it is expected that there will be a turn in the situation with regulatory bodies shaping up…

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The price of Ethereum declined sharply, and there are signs that buyers of Ethereum might struggle.  The price of ETH did not stay at the $130.00 resistance level.

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The 30-minute chart revealed that the price of the ETH/USD pair went down a lot below $110 and even traded for $107.51.  Recovery was seen where the price transited to $112.

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There is a risk of downside break for Ethereum.  If buyers continue to struggle the price can even finish up at $100.00 in the coming days.

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Technical indicators should ensure that the hourly MACD for ETH/USD has a bearish bias despite moving in the bullish zone.

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The RSI for ETH/USD is recovering at the 25th level at a positive angle.  A major support level is seen at $113, and the major resistance level is seen at $121.

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A decline in the price level sets a warning that it is easy to establish an attack on the network.

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