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Tuesday, October 26, 2021

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Bitcoin tries to hold on to $ 45,000 to avoid a bearish scenario

Bitcoin tries to hold the $ 45,000 level this Monday morning despite the strong downward pressure that is primed with the main cryptocurrencies at the beginning of the week.

Specific, bitcoin yields 6.7 percent; while ether loses 9.3 percent; Cardano (ada) falls 10.7 percent; binance down 6.6 percent; xrp (Ripple) fell 10.77 percent, Solana reduced its price by 13 percent and Polkadot fell 10 percent.

In this sales scenario, the total capitalization of the cryptocurrency market accumulates a decline of 7.9 percent in the last 24 hours to stand at 1.98 trillion dollars, according to data from the specialized website coinmarketcap.

Although the previous week was not very good for digital assets either, since only bitcoin closed it positively, with a revaluation of 1.34 percent. The rest recorded losses that reached 9 percent per week in the case of Cardano (ada).

$ 45,000, a key level for bitcoin

As for the specific case of bitcoin, it so happens that this level of $ 45,000 is key to avoiding a more damaging bearish scenario.

“From a technical point of view, it seems that the blood has not reached the river and that the $ 45,000 works as short-term support. Above, the $ 48,000 is a resistance zone and some paper output is seen. Prices above 48,000 will make us think about attacking 50,000 and it is 52,000 that, once exceeded, open the way to 58,000. Under, losing the 45,000 would mean going to look for the 42,000 first and, if lost, a change of outlook to very bearish”Javier Molina, eToro spokesperson in Spain has written about this..

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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