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- The crypto market has taken a completely opposite turn in today’s financial trading trade. Bitcoin is again on the critical price of $6k and looking to break below it. ETH is also suffering heavy price corrections again with the levels dipping to $130.
- It looks like the monetary support provided by the Trump Administration wasn’t enough to control the effect of COVID-19 in the crypto market.
- The overall market capitalization is $172,269,841,028 and volume traded is $177,007,604,985. The overall dominance of BTC remains at 65%.
Bitcoin (BTC) Price Analysis
BTC is having a roller-coaster price movement since yesterday. The world’s largest crypto asset provided some relief to the crypto investors by crossing the crucial price level of $6k. It also looked strong to break another crucial level of $7k. However, the resistance of $6800 came in between and put a halt on the bullish move. Since then, BTC has been a victim of bearish move again in the market. It has now again broken below $6k which is certainly not a good sign. The current price is $5971.23 with the market cap of $109,153,781,035,150 and volume traded of $21,510,350,985. The crypto asset may find the support level of $5800 if the bears are not that impactful.
IOTA(MIOTA) Price Analysis
IOTA is also suffering major price corrections and downtrend in the market. It is facing an overall loss of 21.85% in today’s crypto market. The IOTA/BTC pair is also facing a significant downtrend with an overall loss of 13.09% with a level of 0.00002340. IOTA again broke below the support level of $0.15 making it vulnerable to the critical area of $0.10. The current price is at the level of $0.14 with the market cap of $389,642,090 and volume traded of $18,732,834. IOTA still somehow can find another support level of $0.12 which can prevent the crypto asset from any further downfall.
TRON (TRX) Price Analysis
TRON is on the critical price area of $0.010 due to the negative momentum in today’s market. It is facing an overall loss of -12.23%. The TRX/BTC pair is also facing a downtrend of -2.35% with the level of 0.00000182 BTC. The current price of Tron is at the level of $0.010 with the market cap of $729,587,465 and volume traded of $1,151,568,852. A break below $0.010 will indicate that the altcoin may face a further downtrend in the market with the major support level of $0.0070.
Ethereum Classic (ETC) Price Analysis
ETC has broken a crucial support level of $5.00 with a significant downtrend in today’s market. It is facing an overall loss of -12.26%. The ETC/BTC pair is also facing a significant decline of -1.45% with the level of 0.00080433 BTC. The current price level is $4.80 with the market cap of Z4563,107,243 and volume traded of $1,800,746,024. Breaking below the level of $4 has opened up a vulnerability of a significant downtrend for the cryptoasset.
Binance Coin (BNB) Price Analysis
BNB has also slipped from its crucial price level of $12.00 in today’s market with a downtrend of -14.25%. The BNB/BTC pair is also facing a significant downtrend of 2.85% with a level of 0.00192954 BTC. The current price is $11.58 with the market cap of $1,801,213,356 and volume traded of $419,090,076. If the overall downtrend in the market continues, the altcoin may reach a critical price area of $11.00 any time soon. However, there is still a major support level of $10.00 for the cryptoasset.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
