RATE Group | Bitcoin and Altcoins Signaling Another Decrease in Short Term
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Bitcoin and Altcoins Signaling Another Decrease in Short Term

02 Jan Bitcoin and Altcoins Signaling Another Decrease in Short Term

Posted at 10:07h in Bitcoin News by

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This week, bitcoin price faced an increase in selling pressure below USD 7,350. As a result, BTC/USD settled below the USD 7,250 support and recently tested the USD 7,120 support. The current market sentiment suggests high chances of more downsides below USD 7,100 in the short term before a possible recovery.

Similarly, most major altcoins are slowly declining (09:00 UTC) and trading below key supports, including ethereum, XRP, bitcoin cash, litecoin, EOS, BNB, ADA, TRX and XLM. ETH/USD is struggling to stay above USD 130 and it could even tag the USD 126 support. Besides, XRP/USD is likely to extend its decline below USD 0.190 and USD 0.188 in the near term.

Total market capitalization

Bitcoin and Altcoins Signaling Another Decrease in Short Term 101
Source: www.tradingview.com

Bitcoin price

After a successful close below USD 7,350, bitcoin price broke the USD 7,250 support area. BTC/USD is now consolidating above USD 7,100 and it seems like there are chances of more downsides. An immediate support is near USD 7,020, below which the bears…

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