- The Bitcoin price ranges approximately $ 82,000 on Monday after falling by almost 15% last week.
- The Ethereum price ends below the level of support of $ 2,125, referring to another correction.
- XRP is negotiated about $ 2.17 on Monday after crushing 27.25% last week.
Bitcoin (BTC) oscillates about $ 82,000 on Monday after falling almost 15% last week. Ethereum (ETH) and Ripple (XRP) followed the traces of BTC and crashed almost 20% and 28%, respectively, while their momentum indicators continue to show weakness, referring to an additional correction.
The price of bitcoin is ready for a downleg according to the fence of less than 200 days EMA
The price of Bitcoin broke and closed below its exponential mobile level (EMA) at 200 days at $ 85,754 on Sunday, down 6.37%. When writing the editorial’s moment on Monday, he hovers at around $ 81,800.
If BTC continues its downward trend, it could prolong the drop in testing its lower February 28 of $ 78,258. A successful closure below this level would extend an additional drop to retest its next level of support at $ 73,072.
The relative resistance index (RSI) on the daily graphic bed 36, rejecting its neutral level of 50 last week and indicating a lower momentum. In addition, the divergence of Mobile Average Convergence (MacD) also shows a lowered crossroads on Sunday, giving sales signals and suggesting a downward trend.
BTC / USDT daily graphics
However, if BTC is recovering, it could extend the recovery at $ 85,000.
The Ethereum indicator Momentum Price Show weakness
The Ethereum price closed below the level of support of $ 2,125 on Sunday after decreasing almost 20% last week. At the start of this week on Monday, it is negotiated at around $ 2,051.
If ETH continues its momentum, it could prolong the drop in retester its level of weekly support to $ 1,905.
The RSI on the daily graph reads 35 after having rejected around its neutral level of 50 last week, indicating a lower momentum. At the same time, his MacD also showed a lower crossroads last week, suggesting a continuation of a downward trend.
Daily ETH / USDT table
On the other hand, if the ETH recovers and closes above the level of $ 2,125, it could extend the recovery to retest its next level of resistance to $ 2,359.
Ripple carries the strength of the display
Ripple Price was rejected around its key psychological level of $ 3 on March 3 and decreased by 27% until Sunday. At the time of the editorial staff on Monday, it is negotiated at around $ 2.17.
If XRP continues its correction, it could prolong the drop in retester its level of daily support at $ 1.96. A successful fence below this level would extend an additional drop to test its lower February 3 of $ 1.77.
The RSI reads 42, below its neutral level of 50, indicating a lower momentum. The MacD also shows a lowered crossroads on Sunday, giving sales signals and suggesting a downward trend.
XRP / USDT daily table
However, if XRP is recovered, it could extend recovery to test its next level of resistance at $ 2.72.
Bitcoin, Altcoins, FAQ stablecoins
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by a person, a group or an entity, which eliminates the need for third -party participation during financial transactions.
Altcoins are all cryptocurrencies apart from Bitcoin, but some also consider Ethereum as non-altcoin because it comes from these two cryptocurrencies that the supply occurs. If this is true, then Litecoin is the first Altcoin, a worse of the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value supported by a reserve of the asset it represents. To achieve this, the value of a stablecoin is set for a product or a financial instrument, such as the US dollar (USD), with its supply regulated by an algorithm or a request. The main objective of Stablecoins is to provide an ON / OFF ramp for investors arranged to exchange and invest in cryptocurrencies. Stablecoins also allow investors to store value because cryptocurrencies, in general, are subject to volatility.
The domination of Bitcoin is the ratio of Bitcoin market capitalization to the total market capitalization of all combined cryptocurrencies. It provides a clear image of Bitcoin’s interest among investors. A high domination of the BTC generally occurs before and during a bull race, in which investors resort to invest in a cryptocurrency of relatively stable and high market capitalization like Bitcoin. A decrease in the domination of the BTC generally means that investors move their capital and / or their profits to Altcoins in a quest for higher yields, which generally triggers an explosion of Altcoin gatherings.
