In 24 hours, the digital currency market has been red. Meanwhile, Bitcoin lost 3%, Ripple 5.6% and Ethereum 4%.
to the Report Cryptonews fell to $ 47,500 after Bitcoin failed to stay above $ 48,000. Currently, each bitcoin unit is traded in the range of $ 48,000.
After the fall in the price of bitcoins, the price of altcoins also decreased. In addition to Ethereum and Ripple, other digital currencies such as Polkadot, Solana, Cardano and Dogecoin also fell 5 to 10 percent.
Ethereum plunged below $ 3,300. This area is very important. After reaching this range, Ethereum fell as low as $ 3,250 and $ 3,200. In this downtrend, we saw the price floor form at $ 3,150. Current Ethereum price volatility indicates a continuation of the downtrend and a possible decline to $ 3,120.
$ 3,220 is the first resistance in front of the Ethereum. $ 3,250 can be considered the most important resistance of this digital currency in the short term, and then the way opens for $ 3,300.
Cardano, which was moving towards $ 3 resistance, stopped at $ 2.92, and the digital currency fell below $ 2.8 support by correcting the price. The Cardano is currently trading at $ 2.77 per unit, down 5% from the last 24 hours.
LightCoin is currently priced at $ 178. LightQueen reached this area after breaking the $ 180 support. LightQueen has lost 5% of its value in 24 hours. Traders are expected to be more active in the $ 165, $ 180 and $ 185 areas.
The Dogecoin has now lost 7% of its value and is trading in the $ 0.29 range. $ 0.25 is Dogecoin’s main support and $ 0.3 serves as a resistance area.
Ripple was another digital currency that fell sharply. The digital currency is currently trading in the $ 1.18 range and has lost 6% of its price. $ 1.05 is the first support for Ripple and crossing it may lead to a decrease of up to $ 1.
Theta, Solana, Sushi, Computer Internet and Compound were among the other currencies that fell more than 5 percent.
The market value of digital currencies is $ 2.1 trillion and Bitcoin has a market share of 42.25%. After Bitcoin, Ethereum and Cardano dominate the market with 17.44% and 4.15%, respectively.