Bitcoin is dragging the market downward correction continues, though, it seemed, an encouraging jerk prices up on Friday. During the weekend the cost of the first coin fell, approaching a powerful support level at $9000 – 9200. Many analysts believe that the bearish momentum is not critical, however, the trading volumes at the weekend weren’t great, which could not be alerted experienced players.
However, Ethereum is gaining height on the chart. Ethereum Classic and Litecoin also show bullish sentiment, which in turn does not give the right to consider the market recovered after the global failure. The total cryptocurrency market capitalization rests at $421 billion, this figure is almost two less than their highs.
Chart on TradingView
Bitcoin is still not tested key area $9000-9200, despite several attempts by sellers to lower the price, hitting the coin. Bitcoin stuck at a level below $10000, leaving the voltage already exhausted with the growth expectations of investors. There is reason to believe that in the next few days BTC will test the intermediate bottom, as the market wants to put the squeeze on the “weak hands”, taking the “cheap coins” for the further development of the growth momentum of prices – ahead to face serious resistance above $10000, $11300, $11750 and $13,000.
Chart on TradingView
On weekends Litecoin a little added value, while preserving from the point of view of technical analysis, the primacy of a price rally coins. The cost of LTC depends largely on the situation of Bitcoin, it may be in a large consolidation, despite the indicators RSI. And currently, the price of coins remains at $200, will struggle at $220, $235 and $250. Key support is at $180
After yesterday’s pullback the percentage change in price is not significant. The majority of coins is held in close proximity to key support levels, showing low volatility. Ripple is still trading below $1, IOTA and the price rebounded from the low of the correction to the resistance level of $1.9, approaching the breakout of the resistance line of the downtrend continuing.