According to the most bearish expectations, the key level to defend will be $18,350, as a drop below this figure would inevitably lead towards $17,500
Bitcoin (BTC) has recovered 2% in the last 24 hours but remains below $20,000. The major cryptocurrency is trying to defend its current level after yesterday’s rebound above $20,300. At the end of this post, the price of BTC is 19,466 USD.
Experts mark initial support near the $18,500 level. According to the most bearish expectations, the key level to defend would be $18,350, as a drop below this figure would inevitably lead towards $17,500 and cause -again- panic among investors.
As for the more optimistic outlook, it suggests that a major resistance to overcome to consider further increases lies at $19,200, which is currently outperformed by BTC. In this direction, $19,500 listed as a target hurdle to project other outstanding rallies.
The rest of the crypto market has also seen steep declines over the past 24 hours. Ether (ETH), the main altcoin, fell by the same amount as BTC and currently stands at $1,325. Litecoin (SLD) also fell 3% and does so at $53.
The biggest crash of the day was for XRP with 8%, followed by gimbal (ADA) Yes Solarium (SUN) with 5% retracements that took them to $0.43 and $32 respectively. Binance coins (BNB), finally, fell only 1% and is trading at 277 USD.
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