The cryptocurrency market has experienced a significant slowdown, the total market capitalization plunging $ 125 billion in the last 24 hours, now at 3.16 dollars. This drop was mainly motivated by the ongoing macroeconomic challenges, which maintained market feelings. Bitcoin (BTC), the market leader, is also struggling to maintain its position more than $ 100,000. This price fight makes it more difficult for Bitcoin to stage a recovery, while the wider conditions of the financial markets remain dark.
The lack of resumption on the wider financial market prevents the market for rebounding cryptography, keeping it in a weak state. Total market capitalization is now just above the level of support of 3.16 billions of dollars, supported by the exponential mobile average of 100 days (EMA). However, if the market continues to decrease, we could see the market capitalization crossing this level, the next potential support area arriving at 3.10 billions of dollars. A movement below this level could point out a pressure downwards.
Bitcoin experienced a decrease of 3.15% in the last 24 hours, negotiating at $ 98,148, and has struggled to maintain the support greater than the $ 100,000 mark. This struggle suggests that the main cryptocurrency could enter a period of price consolidation. Bitcoin still has some support almost $ 95,668, but if it falls below this critical level, this could lead to a clearer drop, possibly testing support areas below $ 93,625 and $ 90,000.
For Bitcoin to take up an upward momentum, it must secure a solid base above the level of $ 100,000. If he manages to hold above this threshold, the cryptocurrency could target the fork of $ 105,000, potentially invalidating the current lower feeling. A decision above this price would restore confidence between investors and traders, putting Bitcoin back on the right track for a potential rally upwards towards new heights.
Lido Dao (LDO) has been one of the least efficient assets on the market, lowering 9% in the last 24 hours. Altcoin is now traded at $ 1.69 and has failed to maintain the crucial level of support of $ 1.82. This failure has led to the invalidation of an upward triangle model, leaving Lido Dao vulnerable to new losses. The next level of support for LDO is seen at $ 1.56, and a continuous hinged momentum could lower the pressure, increasing the pressure on its price.
In order to find a bullish momentum, LDO must recover the level of support of $ 1.82. If the token manages to break above this level, it could reverse the current lower perspectives and move to a recovery path, targeting the $ 2.20 beach. This would help renew optimism between merchants and investors, offering a chance for a short -term recovery.
On the larger market scale, feeling is clearly negative, because the main players like Bitcoin find it difficult to regain the ground. The wider conditions of the financial market, including fears of tightening regulations and increasing inflation problems, have put the prices of cryptography to the test. While the market continues to tackle these external factors, many analysts recommend caution. Investors are advised to monitor the main levels of support for Bitcoin and Altcoins, as the breakthrough of these levels could lead to new decreases.
While the cryptography market is faced with a difficult environment, investors and traders find themselves in volatility, uncertain of the next great recovery will take place. A sustained rally may be possible if macroeconomic conditions are improving, but for the moment, the market remains in a cautious state.
Publication views: 1
