Tag: Support

Bitcoin Beneath Key Support Level; What’s Next?

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Bitcoin, the flagship cryptocurrency has remained below $40,000 over the past few days. The broader market correction has pushed altcoins to trade below their key support levels. Ethereum was priced below $3000 as the coin was rejected from the aforementioned price level. Bitcoin’s tough resistance stands at $40,000 as traders continue to exit the market over the last week. In the last 24 hours, BTC had fallen by 3% and in the past week, the coin registered a 6% depreciation. The crypto market continues to be in an accumulation phase.…

Altcoins sell-off as Bitcoin price drops to its ‘macro level support’ at $38K

The cryptocurrency market and wider global financial markets fell under pressure on April 26 after the hype surrounding Elon Musk buying Twitter began to fade, and concerns about the state of the global economy took the forefront again. Tech-related stocks were some of the hardest-hit assets on Tuesday and this pullback was followed by sharp declines in crypto prices as risk assets become persona non grata in these turbulent markets. Data from Cryptox Markets Pro and TradingView shows that after holding support at $40,500 through the early trading hours on April…

Crypto lender Maple Finance expands support to Solana

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Crypto capital markets platform Maple Finance has expanded support to the Solana blockchain and has deployed a $45 million fund to spur ecosystem growth. Maple provides undercollateralized loans for institutional borrowers on Ethereum (ETH) and now Solana (SOL) from several pool delegates. The project stated in an Apr. 25 blog post that it has already “originated over $1.2 billion in loans and currently count over $900 million in TVL to the platform.” The ecosystem fund was launched in partnership with decentralized finance (DeFi) lending platform X-Margin, with capital being provided…

Bitcoin Trims Gains, Support Turned Resistance At $41K

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Bitcoin extended gains above $42,500 against the US Dollar. BTC struggled near $43,000 and started a sharp downside correction. Bitcoin started another decline after it failed to clear the $43,000 resistance zone. The price is now trading below $41,000 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $41,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could attempt a fresh increase, but the $41,000 resistance holds the key. Bitcoin Price Dips Bitcoin…