RATE Group | Bitcoin, Ethereum & Ripple – American Wrap
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Bitcoin, Ethereum & Ripple – American Wrap

23 May Bitcoin, Ethereum & Ripple – American Wrap

Posted at 10:00h in Cryptocurrency News by

The trendline that begins from the low of 3858.00 back on 13th March is now being tested once again. The 4-hour chart below shows the price has tested the uptrend at least three times and now we could possibly see a break.

This move lower over the last couple of sessions has been backed by some decent volume giving us clues that it could be the real deal. In the way of the potential down move is the 200 simple moving average (SMA). The SMA often provides some support when tested as you can see in mid-April.

ETH/USD goes below $200.00 amid the bloodbath on the cryptocurrency market

The second-largest digital asset dropped below a critical $200.00 and touched the intraday low of $196.33. At the time of writing, the second-largest digital asset is trading at $198.69, down 5% since the beginning of the day. 

The sell-off is caused by technical factors and general sentiments on the market where Bitcoin touched the ground below $9,000, while XRP settled under $0.2000.

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