RATE Group | Bearish action for the crypto majors and much more
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Bearish action for the crypto majors and much more

26 May Bearish action for the crypto majors and much more

Posted at 20:45h in Cryptocurrency News by

  • Crypto majors struggle on Tuesday as BTC/USD drops 1.31%.
  • Facebook’s Calibra wallet will now be called Novi and that’s not all.
  • The Indian central bank backs down on crypto bank accounts.

Crypto majors struggle on Tuesday as BTC/USD drops 1.31%.

Bitcoin trades lower on Tuesday as general crypto sentiment remain weak. The market seems to be stuck between a rock and a hard place since the halving event took place last week. Now BTC/USD dipped below the 9K level after rejecting the 10K resistance zone twice in relatively quick succession. There are some positives on the technical side, the price is trading above the 200 and 55 moving averages. The MACD signal line is still holding above the zero line despite the histogram being under (in the red). The Relative Strength Index indicates is still above the 50 mid-point. The key support level remains the wave low of 8105.58 and if this breaks then a lower high lower low sequence would kick in. 

Bitcoin Technical analysis

Ripple also…

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