Bitcoin and Ethereum are trying to weather the recession of cryptocurrency signals

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recession of cryptocurrency signals
  • After several days of consolidation around $ 46,000, Bitcoin fell below $ 45,000. 
  • Although it quickly rose to $ 46,000 and even challenged $ 47,000 a day later, it was unable to keep its profits. 
  • It is currently trading at $ 45,200 by cryptocurrency signals.

However, any positive development of events will surely meet resistance at the level of 50,000, 52,000 and 54,000 dollars. In Bitcoin, indicators show that it can overcome these resistance points. Bitcoin is now at a point where it is catching the attention of many analysts and moving in a more balanced way. The foundations of the leading cryptocurrency are getting stronger every day – analyst of SafeTrading.

Ethereum price.

After the altcoin leader pushed the price of $ 4,000, it fell to $ 3,186 with a pullback. Ether, which has recovered somewhat due to its strong structure, today rallied above $ 3,300. It is currently trading at $ 3,330.

The first critical turning point before Ethereum is the $ 3,350 resistance. Ether can continue the uptrend if it decisively overcomes this resistance with cryptocurrency signals. A breakout of resistance from here could mark a point at $ 3,680. It should be noted that the price should remain above the support point of $ 3,280 – expert of SafeTrading.

It is useful, however, to heed the warnings of renowned cryptanalyst Justin Bennett. Bennett stresses that ETH will not be able to make a weekly close above $ 3,320, and if he fails to do so for a long time, the support point will be at $ 3,000. If there is no stable close above this point, we can expect further pullbacks in Ethereum trying to weather the recession of cryptocurrency signals.

Cardano (ADA) price is ahead of this highly anticipated event!

As the smart contract function approaches, the growth of Cardano’s own cryptocurrency, ADA, is gaining momentum.

IOG CEO and Cardano founder Charles Hoskinson tweeted that the Alonzo hard fork will be released on Sunday. This development will allow users to start creating smart contracts on the largest Proof-of-Stake blockchain.

However, network data provider Santiment warned that the price could plummet again if the ADA community becomes “overly anxious or fearful.”

On September 9, ADA, like other cryptocurrencies, plummeted from $ 2.9 to $ 2.16 and then $ 2.21, respectively. In a recent live stream, Hoskinson pointed out that the drop in ADA prices is due to a bitcoin correction, and not to the recent FUD regarding the technical issues facing the Minswap decentralized exchange launched on Cardano.

  • The price of everything on the market has dropped. There has never been a case of others on the rise and the ADA on the decline. 
  • Finally, the ADA is currently trading at $ 2.63, gaining over 8% daily.

What’s the latest situation in the cryptocurrency market?

Cryptocurrencies have been hit hard by the sharp drop wave last week. So much so that the leading cryptocurrency Bitcoin fell to $ 42,800 in a matter of minutes. Cryptocurrencies are currently trying to rebound, with the recent fall taking huge losses. Here is the latest situation in the cryptocurrency market.

The latest situation in the cryptocurrency market.

  • The leading cryptocurrency Bitcoin (BTC) has been moving in the range of $ 45,000 to $ 46,000 over the past few days. BCT fell from $ 50,000 to just under $ 43,000 due to the recent decline.
  • This drop could cause Bitcoin to be stuck again for a while between $ 44,000 and $ 48,000.
  • On the other hand, Ethereum is the largest altcoin. (ETH) is also among those hit hardest by the fall. So much so that the popular altcoin fell from $ 3,800 to $ 3,000 with the fall.
  • ETH, which has hit $ 4,000 in recent weeks, starting a new uptrend, is facing resistance at $ 3,450. Overcoming this level in Ethereum can lead to increased profits.

Solana and Cardano, one of the most popular cryptocurrencies of the last period, have lost much in value due to the fall. While SOL was trading in the $ 184 range, it suddenly dropped to $ 138. But Solana, unlike other cryptocurrencies, recovered quickly and set an all-time high.

However, Solana, which has been undergoing price adjustments for a while, is moving in the $ 176 range, down 1.84% at the time of writing.

On the other hand, ADA Cardano fell to $ 2.04 due to the fall. Currently, the popular cryptocurrency continues its upward movement and has gained more than 5% over the past 24 hours. At the time of writing the ADA content, according to SafeTrading, it was trading at $ 2.56.

The most growing cryptocurrencies of the day.

Although the crypto market as a whole is currently in decline, some altcoins continue to generate incredible returns for their investors. According to CoinMarketCap data, the altcoins that have experienced the highest gains in the last 24 hours are as follows:

 

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In the first place is the avalanche (AVAX). The popular cryptocurrency is trading at $ 62.41, up 25.27% in the past 24 hours. Also, if we look at the performance of AVAX over the last week, we can see a 31% increase.

Another cryptocurrency that has brought many benefits to its investors is Hedera Hashgraph (HBAR), a blockchain platform that supports new and emerging applications across the Internet. HBAR is up more than 12% in the past 24 hours to $ 0.3932, up 30% over the past week.

OMG Network is 11.06% to $ 9.45 in the last 24 hours, while Elrond (EGLD) is 10% to $ 256.

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