Market condition: Study the levels of support and resistance of professionals in digital currencies

Bitcoin broke the $ 42,500 resistance, but failed to break the $ 43,200 resistance. As a result of the sharp price correction, bitcoin is now trading in the range of 40,500 dollars. The rate of decline in bitcoin prices is currently estimated at 3% per day. The weekly profit of this digital currency has already dropped to 2%.

According to Cryptonews, the price trend of most of the main pennies on the market is also reversed. Atrium maintenance did not remain at $ 3,050. XRP support was broken at $ 0.75 to fall. Cardano is also approaching its $ 0.90 support as the price falls.

Market condition: Study the levels of support and resistance of professionals in digital currencies
Total market capitalization on an hourly basis

Bitcoin prices

Sales boosted after Bitcoin crossed the $ 42,500 resistance barrier. Bitcoin also rose to $ 43,000, but failed to break the resistance of $ 43,200, pushing the bearish wave back to $ 41,000. The basic support for bitcoin is $ 39,500 and if this support is violated, the price of bitcoin will accelerate.

The closest resistance against bitcoin can be seen at the level of 41,200 dollars. The next key resistance could be $ 41,500, which if the resistance breaks, the bitcoin trend will intensify.

Atrium price

Atrium also faced selling pressure in the $ 3,180 range after beating the $ 3,150 resistance. Atrium returned below $ 3,100 and traded below $ 3,050, but the digital currency price chart is trying to stay above $ 3,000. Atrium saw a 3% drop in prices overnight and a 1% drop in recent weeks. His next key support is in the $ 2,950 range.
But if the price rises, the 3050 level is likely to turn into resistance. The next key resistance is estimated at $ 3,120.

The price of altcoins

Cardano did not withstand the resistance of $ 0.98. As the price of this digital currency falls below $ 0.95, $ 0.90 support seems very close.

The BNB was trying to stabilize above the $ 425 resistance. Proponents of lowering the price of the digital currency, however, managed to lower the price below $ 412. If the downward trend continues, it is possible to reach support of $ 400.

The price of Solana, which failed to overcome the resistance of $ 110, also began a downward trend and is now approaching the support of $ 102.

Dodge Quinn has broken its $ 0.14 support line and is now approaching its $ 0.135 support. If this price reduction continues, $ 0.132 and $ 0.130 support will be available.

XRP failed to maintain its support above the $ 0.75 support and with a 3% reduction can now see the loss of support of $ 0.72. Continuing this situation will cause the price chart of this digital currency to reach the key support of $ 0.70 in the short term.

Other coins on the market also often declined. ApeCoin, meanwhile, is trading at 11 percent to less than $ 14. Meanwhile, Theron and Dixie had the best performance among the 100 best digital currencies on the market. Theron jumped 7% to $ 0.067 and increased its weekly profit to 12%. Dickard also saw a 16% increase overnight and a 30% increase last week to raise the price of this digital currency above $ 71.

Read also: Digital Currency Analyzer: Three tokens ready to jump

Overall, the decline in the price of bitcoin pushed its price back by $ 43,000. Now, if bitcoin can’t stay above $ 40,000, there is a risk that its price trend will change in the future.

The publication Market Situation: A Study of Professional Support and Resistance Levels in Digital Currencies appeared for the first time in Digital Currency.

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