Here are the top 3 Cryptocurrencies BTC, ETH, SOL price analysis that you guys need to watch out in this bearish market.
As we all know that cryptocurrencies are having the worst year since 2013 according to Coinglass.
In this article, we are trying to help you to make a better decisions in doing trading in this midst of bear market.
The bitcoin price has remained above the critical support level at $17,622 since June 18. More importantly, the buyers have attempted to push the price back above the breakdown level of $20,111. If they succeed in doing that, it will suggest that the drop to $17,622 on June 18 may have been a bear trap. The BTC/USDT pair may rally to $23,362 where another major resistance is expected from bulls.
However, we still need to be careful about playing LONG because the whole market seems very bearish right now. It shows from the price of BTC that its very hard for them to sustain 20K
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ETH reached to 3 digits, it reached $879 (Lowest since January 2021) but the bull pushes the price again to $1131 today. It might be a good news for ETH holder, yet the bull couldn’t maintain the push until $1268 to recover from this bear market. If ETH can go back $1268 and sustain it today, the bull would be able to push the price until $1525.
Surprisingly SOL is the stronger one compare to BTC and ETH. On June 13 this year, the bear pull SOL price until $26 but since then SOL price haven’t reached to that price anymore even when BTC and ETH went down pretty hard for these couple of days.
The bull have been pushing the price above the MA for the 4 hour chart which it makes SOL in the better situation than BTC and ETH. If the price can be maintain at this point SOL would crush the bear and makes to $43
This is not financial advice, so before you make your decisions please do your own research.