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- Cryptocurrency 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 below $130.
- It looks likes the efforts of bulls in overall market conditions are temporary as it is getting faced by major pricing corrections again and again.
- The overall market capitalization is $175,269,841,028 and volume traded is $113,007,604,985. The overall dominance of BTC remains at 65.3%.
Bitcoin (BTC) Price Analysis
BTC is having a roller-coaster price movement since yesterday. The world’s largest cryptoasset provided some relief to the crypto investors by sustaining the price level of $6.5k. 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, Bitcoin has been a victim of bearish move again in the market. It has now again on the verge of breaking below $6k which is certainly not a good sign. The current price is $6231.13 with the market cap of $113,153,781,035,150 and volume traded of $34,510,350,985. The cryptoasset may find the support level of $6000 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 -6.00% in today’s crypto market. The IOTA/BTC pair is also facing a significant downtrend with an overall loss of -1.15%% with the level of 0.00002196 BTC. 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 $0.13 with the market cap of $380,642,090 and volume traded of $9,732,834. 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 -5.49%. The TRX/BTC pair is also facing a downtrend of -0.76% with a level of 0.00000177 BTC. The current price of Tron is at the level of $0.011 with the market cap of $736,587,465 and volume traded of $985,568,852. A break below $0.011 will indicate that the altcoin may face a further downtrend in the market with a major support level of $0.010.
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 -6.24%. The ETC/BTC pair is also facing a significant decline of -1.45% with the level of 0.00076650 BTC. The current price level is $4.70 with the market cap of $ 55,899,249 and volume traded of $1,396,746,024. Breaking below the level of $4.50 has opened up a vulnerability of a significant downtrend for the cryptoasset.
Binance Coin (BNB) Price Analysis
BNB has also at its crucial price level of $12.00 in today’s market with a downtrend of -6.25%. The BNB/BTC pair is also facing a downtrend of 0.85% with a level of 0.00194100 BTC. The current price is $12.11 with the market cap of $1,882,213,356 and volume traded of $234,090,076. 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.
