BTC Attempts to Hold Support

Neither this post nor any other on cryptofal.com should be taken as financial advice. It is not.

BTC is attempting to hold support above $48,700 as of this morning.

It saw itself taking a dip towards yesterday evening, and is now attempting to hold support in this area. The MFI was trying to trend upwards yesterday, however it was rejected upon the dip in price. The MACD is currently swinging downwards, and could continue if this support isn’t held. This dip in BTC resulted in 5% or so dip across much of the market, including ETH.

The overall cryptocurrency market cap is currently at $2.3 trillion with the overall market’s volume around $100 billion. BTC and ETH dominance remain largely the same as yesterday, with BTC down to 40.1% and ETH dominance holding at 20.1%. This means that altcoins have picked up slightly more of the market, however it’s likely that much of the market is following BTC and ETH fairly closely going into this morning.

Ethereum has broken below support and is attempting to hold above $3,850. The MFI is continuing a downtrend and trying to find support. The MACD is swinging downwards currently. If support isn’t held, its likely that this downtrend could continue.