Earlier this week, investors were delighted with the situation in the cryptocurrency market. The bull trend has sparked a new hope that Bitcoin and other digital assets will show significant growth by the end of this year. But, unfortunately, the uptrend was short-lived, as almost all digital assets began to actively fall in price.
The cryptocurrency market is colored red. Bitcoin shows a decline of 0.7%, Ethereum – a decrease of 2.5%, and Ripple (XRP) – as much as 4.5%. The only exception is Dash (DASH) cryptocurrency, since its price has increased by 1.53% over the past 24 hours.
Today, Bitcoin, falling below $ 6,500, found support at $ 6,440, after which there is a sideways trend. The graph shows that Bitcoin will strive to exceed $ 6,500, but first it must eliminate resistance at a price level of $ 6,480. It should be noted that with a downward trend 50 SMA and 100 SMA will work as support lines at 6,435 and $ 6,379 respectively.
And what do you think about this?
