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ETH Nearing Key Support: $1K to Be Retested if it Breaks (Ethereum Price Analysis)

1 day ago

Despite a 7% spike for Ethereum in the last 48 hours, followed by a steep decline, the possibility of a bullish rally remains low. The price has yet to recover from the major drops that took place in September.
The first step towards bullish sentiment would be to reclaim the critical level of $1,550.
Technical Analysis
By Grizzly
The Daily Chart
As seen below, an ascending triangle pattern (in yellow) has developed on the ETH/USDT trading pair chart. This pattern is textbook bullish (most breakouts’ direction is to the bullish side), but the price is still nowhere near breaking the top of this triangle.
The horizontal level of $1,550 (in red) has become crucial support since early August but now has become a strong resistance. This is the first significant barrier before

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BTC Consolidates for Days, Is Huge Move Incoming? (Bitcoin Price Analysis)

2 days ago

Aside from the weekly candle, which ended in the red, Bitcoin made no substantial move and still hovering around the $19K range.
Technical Analysis
By Grizzly
The Daily Chart
On the daily chart, Bitcoin is currently trading on top of the support zone between $18K to $18.5K (in yellow). Following June’s market crash, this support managed to prevent further decline. This was the second successful retest of this level.
If BTC closes a candle below $18K, combined with increased selling pressure as a result of triggering stop losses, the asset will likely slip towards $16.2K, creating a new yearly low, whereas the next level lies at $14k (in green).
Alternately, in order for Bitcoin to get back onto the bullish track, it must overcome the descending line resistance (in white).

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Ripple Price Analysis: After 30% Weekly Gains, Can XRP Continue to Soar?

3 days ago

Ripple, as the fourth-largest cryptocurrency by market capitalization, saw increases of over 30% during the last 7 days, according to CoinGecko.  The price extended to nearly $0.56 on Friday but got quickly rejected.
Technical Analysis
By Grizzly
The Daily Chart
The XRP/USDT trading pair reached a key support turned resistance level, for the first time since May 9, on the daily chart. Additionally, the price finally closed a daily candle above the 200-day moving average line (in white), which is a promising sign for the short-term future.
Given the strength of the resistance zone located between $0.50 and $0.55, it is likely that some traders may take profits in this area, and XRP will consolidate. However, as long as the price remains above the horizontal support at $0.42

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ETH Maintained Key Support, But the Danger’s Still Not Over: Ethereum Price Analysis

4 days ago

Following the last red days, ETH has hit the support area between the white descending line and the price range at $1,220-$1,280 (in green). So far, the bulls have successfully maintained the high selling pressure; however, the situation is still fragile.
Looking at the bullish case, ETH must close above the key resistance at $1,420 (in red). The first target of such a movement can be considered at $1650. However, the danger is still here, and if the support range at $1220 breaks, ETH is likely going for a retest of around $1K.
Key Support Levels: $1220 & $1000
Key Resistance Levels: $1420 & $1650
Daily Moving Averages:
MA20: $1513MA50: $1620MA100: $1472MA200: $2004

The ETH/BTC Chart
Against BTC, ETH found support amid the 0.067 BTC level (in green) and was able to

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ETH Facing Crucial Support, Is Dump to $1000 Next? (Ethereum Price Analysis)

6 days ago

As predicted, the FOMC-mandated 75 bps rise negatively impacted traditional and cryptocurrency markets. Ethereum (ETH) dived 13%, dropping towards the $1200 level, recording its lowest level since mid-July.
Technical Analysis
By Grizzly
The Daily Chart
ETH is currently trading amid a critical support zone between $1230 and $1280 (in green), along with the 0.618 Fib Retracement level at $1210 (in yellow). After reaching this Fib level, ETH quickly climbed back by 6% earlier today.
In case this level breaks down in the coming days, then $1000 likely becomes the next significant support. Until ETH closes below $1,210, this scenario is not triggered. Alternately, if the bulls break above the range, the next major resistance is at $1420 (in red).
Hopes for a trend reversal are

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XRP Skyrockets 20% Weekly on SEC News But There’s a Catch (Ripple Price Analysis)

7 days ago

Ripple has increased 20.6% over the last week. After more than 100 days, the bulls were able to close a candle over $0.40 on favorable news associated with the trial against the US Securities and Exchange Commission.
Technical Analysis
By Grizzly
The Daily Chart
The horizontal level at $0.4 (in yellow) – which has consistently prevented the price from increasing – has now turned into support on the daily chart. With a 14% green candle yesterday, XRP bulls have now set their sight higher. If they are successful in taking the price towards $0.49, this would also result in the 200-week and 200-day moving average lines (shown in white) crossing.
It’s worth keeping in mind that later today, the Fed is scheduled to announce its decision on whether or not to hike interest rates

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Bitcoin Consolidates Around $19K Leading into Fed’s FOMC Meeting (BTC Price Analysis)

7 days ago

Bitcoin continues to test the $18.5K support level as the bulls lack the strength necessary to move the price up. Investors have been seeking safer options amidst fears of stagflation. As a result, the DXY index has increased.
Technical Analysis
By Grizzly
The Daily Chart
On the daily chart, the recent bullish leg has come to an end after the price hit the top of a descending channel (in light blue). Despite this, Bitcoin is currently trading above the horizontal support range of $18K – $18.5K (in yellow).
Suppose the bears are successful in bringing the price down to this level and closing there. By breaching the channel’s midline support, the asset could drop to $16K and, subsequently, even $14K in the mid-term.
However, the upcoming FOMC meeting that’s scheduled to take

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ETH Charts a Fresh Weekly Low in a Crash Below $1,300 (Ethereum Price Analysis)

9 days ago

After Ethereum’s switch to a proof-of-stake, the bears took control of the market. Investors have turned away from high-risk assets like equities and cryptocurrencies. The ETH weekly candle closed at $1,334 yesterday, which is a new low.
Technical Analysis
By Grizzly
The Daily Chart
The price is currently down 27% from the high of $1,789 reached on September 11th. The lowest level touched in today’s session is $1,280, which is just above the 200-week moving average (in yellow).
Additionally, the cryptocurrency has once more met the one-year descending support line (in green), a level that has saved the price from dropping further. The chances of recovering from the crypto winter soon will be very slim if the bulls are unable to defend this pretty robust support.
If the

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Despite Massive Bullish Momentum, XRP Fails to Break Above Key Resistance: Ripple Price Analysis

10 days ago

The announcement that the Ripple vs SEC case would soon be settled led to a significant XRP price boost over the last few days. The below chart shows the highest volume traded in XRP since June 30 as a result of buying pressure.
Technical Analysis
By Grizzly
The Daily Chart
After bottoming out in June at roughly $0.28, the price of XRP surged by more than 30%. This mini-rally resulted in another attempt to break the key horizontal resistance at $0.4 (in red). However, so far, the critical level had rejected those attempts.
In the previous attempt that happened in mid-August, the bears pushed the price to short-term support (in green) around $0.32. After retesting this level multiple times, making it a local bottom, Ripple bounced back for another retest of the $0.4 level.

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ETH Loses 15% Since the Merge as Bears Take Control (Ethereum Price Analysis)

11 days ago

Ethereum finally migrated to a proof-of-stake consensus algorithm. The event triggered a wave of selling which was probably propelled by those who bought ETH to receive the ETHW airdrop. Because of this, the price has declined by some 15% in the past couple of days.
Technical Analysis
By Grizzly
The Daily Chart
Ethereum is forming its third straight red candlestick on the daily timeframe. The cryptocurrency is currently back at a level defended by the bulls in the last two months.
Technically, the pattern revealed in the chart is bearish – a descending triangle (in light blue). Also, after a lengthy period, the 30-day Relative Strength Index (RSI) has lost the support of the ascending line (in green), which held its position above it for three months.
This indicates that a

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Bitcoin Tumbles Below $20K but is Another Drop Imminent? (BTC Price Analysis)

11 days ago

Bitcoin’s bearish stage seems far from over as the second rebound from the $18K support level turned out into another bull trap. The price is currently attempting to break a critical support level.
Technical Analysis
By Shayan
The Daily Chart
The cryptocurrency recovered from the $18K level earlier in September after failing to surpass the $24K mark. Yet, the 50-day and 100-day moving averages, seen at roughly $22K, rejected the price to the downside. Bitcoin has also failed to break above the significant bearish trendline, where it has been held below since the current bear market started.
Although the $18K level remains intact, the market structure remains bearish until the price successfully breaks above the mentioned descending trendline and reaches the $24K

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XRP Crashes 8% in Three Days, Here’s The Next Support (Ripple Price Analysis)

12 days ago

XRP hasn’t created a higher high in the last four months. This shows that the bears are currently in control, and they show little to no signs of weakness. Since the CPI numbers for the US were published earlier this week, the cryptocurrency has lost about 8%.
Technical Analysis
By Grizzly
The Daily Chart
XRP’s daily chart reveals the formation of a symmetrical triangle pattern (in light blue). This pattern might be interpreted as bearish since it develops in the course of a downward trend. On the other hand, the 30-day Relative Strength Index (RSI) is stuck below the resistance of the descending line (in white). Since the beginning of August, this resistance has overlapped with the baseline (in yellow). It should be taken into account that when the RSI gains momentum over

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Bitcoin Retraces Towards $20K But is the Pain Over? (BTC Price Analysis)

14 days ago

The recent Bitcoin recovery had the majority of market participants hoping for a new bull market. However, after yesterday’s USA Consumer Price Index announcement, it seems like it was all another bull trap, and the market can still drop deeper.
Technical Analysis
By: Edris
The Daily Chart
As seen on the daily Chart, the price had rebounded from the $18K level and was moving towards the $24K resistance level. However, the 50-day and 100-day moving average lines, accompanied by the significant bearish trendline, halted the uptrend. As a result, the price was rejected impulsively around the $22K mark once it failed to break above these key dynamic resistance levels.
Currently, the market seems to be heading for the $18K support level once again. A potential bearish breakout

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XRP Surges 16% in Five Days, Here’s the Next Target (Ripple Price Analysis)

16 days ago

In the last five days, Ripple has grown by an impressive 16%, reaching highs exceeding $0.36 in today’s market. However, this doesn’t mean that the bearish trend has come to a halt.
Technical Analysis
By Grizzly
The Daily Chart
Once again, the bulls have demonstrated their determination to prevent the price from falling below $0.3 (in green). The next resistance for the cryptocurrency lies at $0.38 (in yellow). XRP has gone through a sideways trend as buyers were unable to breach the resistance of the descending line (in red) since June 22. This also means that the pair has formed lower highs sine then.
Currently, the horizontal resistance at $0.38 overlaps with the red resistance. A close and break above this zone will further strengthen the current bullish sentiment. In

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ETH Needs to Break This Level to Initiate a Sustained Rally (Ethereum Price Analysis)

17 days ago

Ethereum increased by 25% in the past few days and seems to be a step away from shattering the line that has followed the price since its all-time high was registered in November 2021.
Technical Analysis
By Grizzly
The Daily Chart
Ethereum has reached an obstacle on the daily chart. A significant resistance zone has been established by the convergence of two descending lines (in yellow and orange) and the horizontal resistance at $1,800 (in red).
On August 14, the bulls’ final effort to break out was unsuccessful. Since then, the price moved into a weaker position, reaching $1,420. The recent increase has now presented the bulls with an opportunity to retest the resistance zone.
In the days leading up to the Merge, the market is dominated by bullish sentiment, and this

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Bitcoin Tests $22K But Worrying Signs Start Flashing (BTC Price Analysis)

17 days ago

The Bitcoin market is often full of surprises and last week was no exception. Bearish sentiment was dominant, and the cryptocurrency seemed to be days away from creating a new lower low. However, a significant price rally has changed the view from a technical aspect.
Technical Analysis
By: Edris
The Daily Chart
Looking at the daily timeframe, Bitcoin has bounced back from the key $18K support level once more, and rallied impulsively above the $20K mark last week. The price has currently reached the 50-day and 100-day moving average lines, which are converging around the $22K area.
If the price breaks these moving averages to the upside, a crossover between them would occur, which is a strong bullish signal. However, in order for the market to be considered bullish in the

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BTC Soars 9% Daily to $21K, Here’s the Next Barrier for the Bulls (Bitcoin Price Analysis)

19 days ago

Bitcoin is finally showing signs of strength and increased by a considerable 9%. This follows a consolidation phase. The $18K level supported the price once again, proving its sentimental power.
Technical Analysis
By: Shayan
The Daily Chart
The $18K-$19K support appears to be the most crucial level for the bulls to hold. If they fail to do so, the market could fall toward $15K.
Bitcoin’s price has been supported for the fourth time and is now aiming for the 50-day MA at $21.9K. The 50-day moving average line is about to cross the 100-day moving average line, which can be identified as a bullish signal.
If the cryptocurrency successfully breaks the 50-day and the 100-day MA lines, a mid-term bullish phase will become more likely. Also, these lines currently act as critical

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ETH Volatility Skyrockets Amid Recovery Above $1.6K, What’s Next? (Ethereum Price Analysis)

20 days ago

With the Merge taking place a week from now, ETH remains the market leader and outperformed Bitcoin. However, it is clear from the technical chart that there are significant obstacles standing in the path forward.
Technical Analysis
By Grizzly
The Daily Chart
Ethereum is moving within a descending channel (in blue) on the daily chart. This resistance line has prevented further growth since registering its all-time high. When the price last hit the channel’s top in August, it suffered a drop to $1,422 as a consequence.
The scenario for the Relative Strength Index (RSI 30d) is comparable. The descending line (in white) that has formed over the last 12 months is acting as resistance.
To fulfill the two important goals — breaking out of the channel and overcoming the

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XRP Crashes Toward $0.30 But Bulls Outperform Against Bitcoin (Ripple Price Analysis)

21 days ago

Ripple has not been exempt from the recent decline in the cryptocurrency market. Despite this, XRP paints a different picture against Bitcoin. It’s worth noting that there have been two entirely different outlooks when analyzing the two pairs. In the last 24 hours, the price fell by 8% while increasing by about 3% against Bitcoin.
Technical Analysis
By Grizzly
The Daily Chart
The bulls are undeniably weaker than the bears as lower highs, and lower lows are seen in the chart. The long upper wicks in the red candles, as well as the length of their bodies, indicate just how vigorously the bears are guarding those higher levels.
In terms of the last day, sellers pushed the pair until close to $0.31, but the support zone there was able to save XRP once more (in green). This was

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Bitcoin Drops to Historic Trendline but Bullish Signs Flash, Reversal Inbound? (BTC Price Analysis)

21 days ago

Bitcoin has been experiencing a prolonged bear market since the all-time high of $69K in November 2021. The past 24 hours have also proven to be quite a challenge for the cryptocurrency as it dropped below $19,000. Yet, the next few days or possibly weeks are likely to be critical for the mid-term future of BTC’s price.
Technical Analysis
By Shayan
The Weekly Chart
Historically, Bitcoin bear markets have concluded after participants underwent a phase of massive capitulation and distribution of their assets. Additionally, there is an ascending 9+ year trendline on BTC’s chart. This has always supported the price and marked the bear market bottoms.
As the following chart demonstrates, the price has declined to $18K. This level aligns with the above-mentioned support

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ETH at Highest Levels Against BTC Since December 2021, What’s Next? (Ethereum Price Analysis)

22 days ago

Ethereum has resumed its upward trajectory in recent days. This happened after the bears failed to push the price below the support level of $1,420. The positivity is also highlighted by the fact that Ethereum is trading at its highest price against Bitcoin since December 2021.
Technical Analysis
By Grizzly
The Daily Chart
At the end of August, the bears managed to retrace the July gains and pushed the price towards the 61.8% Fib level, which lies at $1,420. The important resistance to now consider lies at $1,800. Interestingly, the cryptocurrency attempted to push the price above it in early August, but it eventually fell below.
Ethereum has not touched its 200-day moving average line (in white), which is at $2112, since April. This MA is closely associated with the

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XRP Eyes a Drop to $0.3 if Bulls Fail to Step In Soon (Ripple Price Analysis)

23 days ago

Ripple seems to be struggling around the support at $0.33 for 10 days in a row. As a result, the cryptocurrency is trading within a very narrow range with little to no volatility. The sentiment remains predominantly negative.
Technical Analysis
By Grizzly
The Daily Chart
On the daily chart, the bulls tried to extend the price above the resistance zone at $0.33 (in red) on multiple occasions. Presently, it appears that there’s not enough demand to propel a considerable increase.
The current structure formed after registering a high near $0.4 has been bearish. If this situation continues, the cryptocurrency is more likely to revisit the horizontal support at $0.3 (in green). The ascending line (in yellow) that has become resistance is another hurdle ahead of price growth.

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Calm Before the Storm as BTC Looks Ready for a Huge Move (Bitcoin Price Analysis)

23 days ago

Bitcoin currently gives a ‘calm before the storm’ feeling, as the price has had minimal changes in the last few days. However, there are some interesting levels to watch in the short term.
Technical Analysis
By: Edris
The Daily Chart
As seen on the daily chart, the price has observed very small changes in the last few days. Presently, Bitcoin is consolidating in a very tight range at the $20K support zone. The 50-day and 100-day moving average lines are located at the $22K and $23K levels, respectively.
If the price fails to break above these levels in the short-term, a bearish breakout below $20K could be expected. In this case, another massive bearish move towards the $15K area and beyond would be likely.
On the other hand, if the price breaks above these moving average

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Ethereum Bulls Eye Critical Resistance Level Ahead of the Merge, Here’s What’s Next (ETH Price Analysis)

24 days ago

Despite pushing the price higher earlier in the week, the bulls have lost momentum as the days went on. As the date of the Merge approaches and the Ethereum market grows hotter, speculation about the future of the price has reached its peak.
Technical Analysis
By Grizzly
The Daily Chart
The formation of lower highs and lower lows suggests a bearish structure. The recent bullish leg stalled when it reached the resistance of the 20-day moving average line (in yellow). However, the 100-day moving average (in white) accompanies the asset as support.
If the buyers are to initiate another increase ahead of the Merge, they should push the price above $1,720. Positive sentiment will dominate the market in the short term if this occurs.
Alternatively, the support zone is between

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BTC Hanging By a Thread but is $17K in Play? (Bitcoin Price Analysis)

24 days ago

It’s been over 9 months since Bitcoin’s all-time high at $69K in November 2021. The cryptocurrency continues its gruesome downtrend and has yet to show any signs of recovery. The market is currently quiet, but next week’s price action could be key to determining the mid-term future.
Technical Analysis
By: Edris
The Daily Chart
Looking at the daily chart, the price has been consolidating in a tight range between $19,500 and $20,500 over the past few days, showing little intent for a significant move in any direction. The $20K support area seems to be holding the price for now.
If a bullish rebound is to happen, the 50-day and 100-day moving average lines around $23K and the $24K resistance level would be key areas to watch for as they can initiate a bearish continuation.
On

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ETH Needs to Break This Level to Attempt a Shot at $2K Again (Ethereum Price Analysis)

26 days ago

August’s monthly candle closed in the red. However, it was a month filled with volatility where the bulls dominated the market until the middle of the month and managed to record a high of $2031. At that point, bears intercepted and pushed the price towards $1420.
In any case, all eyes are now on September as we enter the month when the Merge is expected to take place.
Technical Analysis
By Grizzly
The Daily Chart
In the daily timeframe, buyers appeared strong this week. They managed to reclaim the 100-day moving average line (in white) and then clear the descending line resistance (in yellow). However, the bearish structure is still valid since Ethereum failed to form a higher low and higher high.
The resistance zone in the range of $1720-$1750 (in red) is critical. A

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Bitcoin Facing Critical Support: Breakdown or Rebound to $22K? (BTC Price Analysis)

27 days ago

Bitcoin’s price is experiencing a mid-term consolidation phase. The price has dropped and now will be facing a significant level of support at $19K, and this level is the most critical support for the bulls to hold over the next short term.
Technical Analysis
By Shayan
The Daily Chart
After experiencing a particularly rough decline of approximately 10%, the price of BTC has entered a consolidation phase, consisting of choppy price action. The $19K support level has substantially supported Bitcoin’s price over the past few months. Hence, a sharp decline is anticipated if this level gets broken down.
Nevertheless, the 50-day and the 100-day moving average lines are close to marking a bearish cross, which could intensify the bearish rally.

The 4-Hour Chart
In the short term,

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Ethereum Price Analysis: Despite the Recent Drop, ETH’s Forming a Bullish Pattern

27 days ago

After dropping to a monthly low over the past week, finally, the steep dive seems to be finding a local bottom. ETH saw a staggering 12% price increase over the past three days, touching a high of over $1600 as of yesterday (Wednesday).
Could this end up in breaking out above the falling wedge, which is textbook bullish?
Technical Analysis
By Grizzly
The Daily Chart
The bottom line of the falling wedge pattern (in yellow) has already supported the price three times. This pattern is technically bullish if and when the price breaks out of it. This is the second wedge that has been formed in recent months. The first turned out to be bearish (in light blue), causing the price to fall toward the horizontal support at $1420.
If the bulls can break above the horizontal resistance

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Following a Slight Recovery, Here’s the Major Level for XRP Bulls to Target (Ripple Price Analysis)

28 days ago

Ripple has increased by 4% as the crypto market began to recover over the last two days. One explanation for this can be found in the DXY index reaching a stiff resistance. However, the sentiment across risk-on markets continues to be bearish.
Technical Analysis
By Grizzly
The Weekly Chart
The trend structure became bearish after the formation of a lower high and lower low on the daily chart. After failing to push the price above the horizontal resistance at $0.39 (in red), the bulls are now on the defense and should prevent the price from falling further.
Although the price increased slightly yesterday, it is not yet significant enough to start a rally. The recovercould begin when the bulls can flip the resistance zone in the range of $0.38-$0.39 by passing through

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Bitcoin Defends $20K But is Another Drop Imminent? (BTC Price Analysis)

28 days ago

The Bitcoin bear market appears to be far from over as the price has dropped to the bulls’ last line of defense before another massive leg down. The short-term and even mid-term price action of Bitcoin could be determined in the next few days.
Technical Analysis
By: Edris
The Daily Chart
Looking at the daily chart, the recent downtrend was initiated after the price was rejected from the $24K static resistance level. Moreover, it was rejected from the 100-day moving average at the same price, acting as a dynamic resistance. A bearish breakout and consolidation below the 50-day moving average have signaled that the current drop is more likely to be a bearish reversal than just a short-term pullback.
Eventually, the price climbed back to the $20K level and appears to be

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