After the incursion into the $248 and $245 highs, Ethereum bulls failed to push ETH above the $253 overhead resistance. Yesterday, the price dropped to $238 low after buyers failed to breach the $245 resistance.
The cryptocurrency market has shown itself as one of the most volatile markets in the world. Bitcoin and altcoin price daily fluctuations sometimes vary from 4% to 40%. Most of the traders have to struggle with such a high volatility level and keep on earning instead of losing.
Although only lazybones haven’t heard of cryptocurrency yet, society generally still lacks awareness about this type of money. Nevertheless, the number of newcomers to the industry grows on a daily basis. But where to start before investing your money and risking to lose it all?
The altcoins are trading in their respective bull markets. Nonetheless, as the coins reached the overbought regions, there was a change in the trend. The cryptos resumed trading in a sideways trend. A rebound or breakout is possible at the overbought regions which will propel the coins to resume the uptrend.
Today, the below-listed altcoins are experiencing a downward move after a breakdown. Bitcoin fails to breach the psychological level of $10,000. Consequent upon that the king coin crashed to $8,000. The market is making an upward correction. The altcoins listed below are equally affected by the downtrend.
On May 4th, Bitcoin declined slightly from the previous day, recording around $8,700 at various exchanges including Upbit, Binance, BitMEX and Bithumb. Nevertheless, it is relatively stable these days with only insignificant fluctuations.