Another day, another correction.
The cryptocurrency market sustained yet another slump as Bitcoin’s price against the USD fell to $11,398. Following its price movement, the collective market cap dropped to $356 billion. As the top 10 altcoins chart flashed red, Litecoin, Bitcoin SV, and Bitcoin Cash were the top three losers that saw its price suffer significant decline.
After exhibiting bullish momentum, Litecoin’s price uptrend took a pause following the latest correction as it fell by 4.99% over the past 24-hours driving its price to $58.24. At the time of writing, the silver crypto registered a 24-hour trading volume of $2.58 billion and a market cap of $3.80 billion.
The shift in momentum to bearish was noted by the red closing bars of the Awesome Oscillator which resisted an upward break close to $67.27 immediate resistance level. On the other hand, Chaikin Money Flow was optimistic as it continued to remain in the bullish territory, despite the downturn depicting the support held at $53.76 was firm.
Bitcoin SV [BSV]
Bitcoin SV broke down from its previously held support at $200 as bears continued to have an upper hand. The contentious fork coin fell to a value of $191.9 after sustaining a loss of 4.73% over the 24-hours while sitting at a market cap of $3.55 billion and a 24-hour trading volume of $791.3 million.
While its immediate resistance stood untouched at $246-level, the technicals exhibited a bearish picture. The Klinger Oscillator as well as the MACD was dominated by the signal line following a bearing crossover. Meaning, if this trend persists, BSV could take a tumble towards its support at $154-level
Bitcoin Cash [BCH]
The bears were attempting to sink Bitcoin Cash’s [BCH] price as was being traded near $275, a level that has firmly supported the coin for the past three weeks. The sixth-largest cryptocurrency recorded a price of $276.1 after a decline of 3.96% as it held a market cap of $5.105 billion and a 24-hour trading volume of $1.481.
The dotted markers of the Parabolic SAR below the BCH price candles were holding it from a further decline to its next support level of $224. The RSI below the 50-median line depicted a buying opportunity for the coin.