Market outlook: Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) received another beating

Crypto market still looks red

Further sales pressure in the Asia Session put a heavy strain on the entire crypto market. Bitcoin (BTC), king of the crypto currencies, almost all coins and tokens are in red. Overall, the market has lost just under $3.4 billion in total market capitalisation from yesterday to today. Interesting to note, however, were some strong whale movements in the last few hours. Four-digit BTC amounts have been pushed from Kraken to unknown wallets, suggesting that larger players are already profiting from the low prices.


Bitcoin (BTC) Price

During the Asia Session there was renewed selling pressure, which pushed the Bitcoin price down to just under $3220. However, the price recovered again somewhat, as there is a support zone between $3,635 and $3,400 , which pushed the price back up to 3,820 $. At 10:45 a.m. the Bitcoin price is at 3,842 $, Coinbase Pro price, where it is currently running sideways due to some uncertainty in the market. From today’s point of view, this support zone has held where it could possibly be tested again during the upcoming US session, which starts around 14:00. Currently, decisive resistance is at 3,920 $. If this is broken, it would be very important to close the day candle above this price.

Ethereum (ETH) Price

Due to the downtrend of the market, the price of the Ethereum also suffered. Yesterday’s price was 107 $, price at 10:00 is 103 $. Like the Bitcoin (BTC), Ehtereum has risen a bit. The low was 93$ during the Asia Session. Decisive for a small recovery is the 107 $mark and beyond that again the psychological limit of 100 $. Ethereum is still in 3rd place behind Ripple according to Coinmarketcap.

Ripple (XRP) Price

Just like his two comrades-in-arms, Ripple also got some beating. So this price landed at 0.32 $and is currently at 0.33 $. The $0.35 level has developed as current resistance and the $0.32 level as support.

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Julian Joseph Lehmann
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