Coinbry

  • Market Cap: $2,684,296,356,238.76
  • 24h Vol: $122,962,620,594.96
  • BTC Dominance: 51.11%
BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, LTC: Price Analysis on 8/18

BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, LTC: Price Analysis on 8/18

The cryptocurrency market, including Bitcoin and major altcoins, is experiencing intense selling and the market sell-off is not yet complete.

Bitcoin fell sharply, resulting in $1 billion in liquidations for derivatives traders.

The reason for the sell-off is unclear, but confusion surrounding SpaceX’s alleged write-down of its Bitcoin holdings may have been a trigger.

Analysts expect Bitcoin to continue its downtrend in the near term.

Important support levels to watch for Bitcoin include $24,800 and $20,000.

Ether turned down and broke below immediate support at $1,816, indicating bearish control.

BNB broke below a symmetrical triangle pattern and closed below the support at $220.

XRP tumbled below the breakout level of $0.56, indicating continued selling pressure.

Cardano dropped below a descending channel pattern, indicating accelerated selling.

Solana broke below moving averages and horizontal support at $22.30.

Dogecoin slipped below the support line of an ascending channel pattern.

Polkadot’s tight range trading expanded to the downside, nearing critical support at $4.22.

Polygon broke below the $0.65 support and fell below the next strong support at $0.60.

Litecoin went into a tailspin after breaking below support at $81, falling to $56.

Summary:

– Bitcoin and major altcoins are experiencing intense selling.

– The reason for the sell-off is unclear, but confusion surrounding SpaceX’s alleged write-down of its Bitcoin holdings may have been a trigger.

– Analysts expect Bitcoin to continue its downtrend in the near term.

– Key support levels to watch for Bitcoin include $24,800 and $20,000.

– Other cryptocurrencies such as Ether, BNB, XRP, Cardano, Solana, Dogecoin, Polkadot, Polygon, and Litecoin are also facing selling pressure and breaking key support levels.

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