RATE Group | Bitcoin and Altcoins Signaling Downtrend Continuation
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Bitcoin and Altcoins Signaling Downtrend Continuation

25 Nov Bitcoin and Altcoins Signaling Downtrend Continuation

Posted at 09:58h in Bitcoin News by

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In the past few days, there were heavy downsides in bitcoin. BTC/USD traded below many supports such as USD 8,000, USD 7,650 and USD 7,050 to move further into a downtrend. It recently tested the USD 6,550 support zone and currently (09:00 UTC) remains at a risk of more losses.

More importantly, there were sharp losses in most major altcoins, including ethereum, bitcoin cash, ripple, EOS, BNB, TRX, ADA, and XLM. ETH/USD is down more than 10% today and it even tested the USD 135 support area. XRP/USD is also under a lot of pressure below USD 0.220 and it recently tested the USD 0.202 support area.

Total market capitalization

Bitcoin and Altcoins Signaling Downtrend Continuation 101
Source: www.tradingview.com

Bitcoin price

After a downside break below the USD 7,500 support, bitcoin price declined heavily. It is down around USD 1,000 and recently tested the USD 6,550 area. If there are more downsides, the next stop and a major support zone is seen near the USD 6,250 level.
On the upside, an initial resistance area is near the USD…

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