The bitcoin price failed to stay above $19,500. The downside might break and close below $19,000, triggering a further decline below $18,500 or even $18,250.
Here’s a #Bitcoin analysis made by one of our TA analysts in the Discord. 👇
Currently in a bearish trend since we have the big dump on the left. Build up for sell side liquidity on the bottom if the price bounces from the zone. 🚀#btc #crypto pic.twitter.com/HEXrF2F0uq
— AltCryptoTalk 🗨️ (@AltCryptoTalk) October 3, 2022
Indicators are also negative for most of the big cryptocurrencies. As ETH stabilizes below $1,320, it is approaching a resistance level. The price of XRP fell below support levels of $0.455 and $0.450. Finally, the price of ADA is struggling to stay above $0.42.
Did you know that $BTC is forming a descending channel?
Such a pattern is considered a bullish pattern
Once it breaks out to the upside, the price target, according to the pattern, is close to $30.000 for $BTC. pic.twitter.com/hheFNHsGPq
— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) October 2, 2022
Last week, bitcoin’s price attempted to break through the $19,600 barrier. There was even a surge in BTC above $20,000. Beyond the $20,000 mark, however, there was no further upward movement. Following this, the price dropped below $19,500 and the 50-hour simple moving average, resulting in a further negative response.
One bad thing about Crypto is that when the Price of Bitcoin is down majority avoid the entire crypto market while a few smart people keep making Money off most Altcoins doing 10-100%!
Everywhere Gets Quiet when Bitcoin’s Price Down!
— BitcoinChief (TATCOIN TRADER) (@gaiuschibueze) October 3, 2022
Ethereum’s price began a new drop after failing to break through the $1,350 barrier zone. A dip in ETH below $1,320 and the 50-hour simple moving average was noted. As it trades below $1,300, it has initially found support at $1,280. The next significant support lies at $1,255, below which the price is expected to decline further.
Are other Cryptos doing well?
Resistance is seen near $1,310, and the 50-hour simple moving average as the price climbs. If the price rises above the $1,350 barrier, the next significant obstacle might reach the $1,400 barrier.
There was a considerable drop in the price of Cardano (ADA). Currently, the price is struggling to maintain above $0.42. Currently, BNB is trading at $285. Hopefully, there isn’t a new rise that will take the price above the $295 and $300 resistance levels.
Holding above daily resistance gained. Price has to gain over 0.00037913 and move towards daily resistance at 0.00051680 (short entry)#LUNC #LUNACLASSIC #LUNCUSDT #LUNA #Crypto pic.twitter.com/PPqyBw2xOt
— Chart Bender (@chart_bender) October 3, 2022
SOL’s price has fallen to $32. If a bearish breach occurs below $32, the price may fall to $30.50. At $30, there is another significant level of support. In spite of the $0.45 support level, XRP’s price steadily rose. In the event of further losses, the price might reach $0.432. Positively, $0.465 represents an important obstacle.