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.
Litecoin [LTC]
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.
