The struggle of the leading cryptocurrency Bitcoin (BTC) with the support of $ 42,000 certainly seems to determine the coming days of the crypto money industry.
The market, which has become more active especially with the statements made by SEC Chairman Gary Gensler, continues with Bitcoin falling below the support of $ 42,000 during the day.
What’s the Latest in Bitcoin?
Looking at the leading cryptocurrency, it is currently seen that the critical point below $ 42,400 is $ 40,700, which is the weekly MA20 level. According to the information conveyed by the analyst Material Scientist, who examined the order books on Binance and OKEx, $ 40,000 is a very critical support.
The RSI indicator is again pointing to the oversold territory, which actually indicates that the decline may slow down.
However, the progress of the decline initiated by a news in the crypto money industry has been seen before, despite technical indicators. The most fundamental support for BTC below $40,000 is the $36,000 – $38,000 band. For this reason, it can be preferred to stop in BTC closings below $ 40,000.
Is Ethereum Price Heading To $2,000?
Ethereum, the second largest cryptocurrency by total market capitalization, fell by 7% in 24 hours and was withdrawn to $ 2,870. Losing the $2,800 support of Ethereum could bring a hard landing to $2,200.
In this context, it seems reasonable for investors to stop below $2800. If there are signs of recovery in the market, it will be quickly for the price to rise above $3000 again.
Not Expected in XRP
The last development that Ripple requested from the court was also rejected and it is not going well for Ripple. Losing the support of $ 1, XRP is trading at $ 0.90 and is trying to hold at $ 0.86.
XRP can be expected to break below this level and pull to the $0.84 point below it. Losing 15% blood in 7 days, XRP must stay above 1 dollar to turn things around. On the other hand, although Ripple’s wing confidently made statements such as “We will not compromise with the SEC because we will win the case”, it is said that these statements are actually negative and completely eliminate the possibility of reconciliation.