Main page News

Bitcoin has started the week with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $44,822.60 (-6.63%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ether has fallen to $3,125.83 (-8.96%), while Tether is up by 0.12% and is now trading at $1.

FxPro's team of analysts say:

"After spending the weekend in a fairly tight trading range, Bitcoin has lost around 4% this morning to $45,700. Meanwhile, Ether has suffered even bigger losses - down 6.5% to $3,190. This downward momentum can easily be attributed to reduced risk demand in the financial markets, as institutional players have started to exert a fairly significant influence on the prices of the most liquid crypto assets.

The fear and greed index for Bitcoin and the largest cryptos remains in the neutral area (50). The RSI on the daily charts is in the same place, at 45. These indicators do not provide significant signals for speculators.

From a technical point of view, Bitcoin is currently at a test of support at the 200-day moving average. A drop in the cryptocurrency below $45,000 could open the door to a large-scale sell-off. While the ability to consolidate and gain strength above this level will allow bulls to breathe a sigh of relief again and possibly form another bullish impulse.

Significant support level for Ether is at $3,000. If the coin falls below this level, this would mean the surrender of short-term buyers, opening the way to $2,500."

According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in red.

As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,975,368,649,920.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Please describe the error