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- The crypto market is facing another significant bearish momentum in today’s market. Bitcoin again plunged below the crucial price level of $6k. Ethereum is also possessing high vulnerability of major downfall if it breaks below the support level of $120.
- The overall market capitalization is $167,118,473,422 and volume traded is $132,765,962,855.
- The overall market dominance of BTC remains at 65%.
Bitcoin (BTC) Price Analysis
After plunging to the support level of $5700 in yesterday’s market with a significant downfall, BTC finally had some positive movement in today’s market but is unable to break the crucial level of $6k again. The world’s largest cryptoasset is facing huge resistance at the price level of $5980.
The resistance level again forced the cryptoasset to drop below the major support level of $5800. Currently, it is facing an overall loss of -7.13% with the current price of $5826.13. The market capitalization is $106,558,893,510 and volume traded is $40,937,280,928. If BTC persists below the $6k mark for too long, it may indicate that it can face another significant downfall in the market as the global market conditions are still in crisis.
VeChain (VET) Price Analysis
Vechain is currently surviving on the major support level of $0.0026. Despite the downtrend in today’s as well as in yesterday’s market, the support level remains intact which can be a positive sign for the altcoin. VeChain was on an attempt to break the crucial price level of $0.0030 and was able to break with the help of overall bullish market conditions.
However, it was unable to maintain its sustainability over the price level as overall bearish momentum was back in the market. Currently, it is facing an overall loss of -11.37% with the current price level of $0.0026. The VET/BTC pair is also facing a significant downfall of -4.63% with the level of 0.00000044 BTC.
Dash (DASH) Price Analysis
Breaking the crucial price level of $70 is proving out to be a negative aspect for DASH. Since then the altcoin is facing a continuous downtrend in the market and currently facing the overall loss of -10.54%. The current price is $63.42 with market cap of $595,539,269 and volume traded of $711,508,516. The only positive aspect for the altcoin in the bearish market is that the support level of $63 and $60 respectively remains intact. The DASH/BTC pair is also facing a significant downtrend of -4.05% with the level of 0.01085025 BTC.
IOTA (MIOTA) Price Analysis
IOTA has been the victim of price consolidation between the range of $0.10 to $0.15. The price level of $0.15 acts as a major resistance level for the altcoin and $0.10 is providing the major support. Currently, it is at the level of $0.12 with an overall loss of -10.80%. The IOTA/BTC pair is also facing a significant downtrend in the market with an overall loss of -4.36% with a level of 0.00002175 BTC. It will be interesting to watch if the altcoin breaks the resistance or support level.
LISK (LSK) Price Analysis
LISK is undergoing a high vulnerability of significant downfall as it has broken the major price level of $0.10 with the overall downtrend in the market. It is currently facing an overall loss of -7.05% bringing the current price level to $0.98. The market capitalization is $120,594,905 with the volume traded of $7,478,508. Lisk is currently in a critical price area in which bears can provide the altcoin heavy price damages. However, it is still having major support level of $0.70 and $0.50.
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.
