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Today’s Crypto Market: Bitcoin and Ether Struggle, MATIC Sees Additional Gains
The bitcoin price remains below $58,000, the ether price has reduced gains and traded 5% lower, while MATIC might seek for additional gains over the $2.00 mark.
Bitcoin
After encountering roadblocks at $58,000, bitcoin’s price began a new downward trend. BTC traded between $57,000 and $56,000. Before the bulls emerged, it was trading near $55,500. The price has recovered its losses and is presently trading above $56,000. The bulls’ first obstacle might be $57,000, but the major hurdle is still close to $58,000. For a move towards the $60,000 threshold, a proper H4 close to or over $58,000 is required.
If the bulls fail, the price might go below $55,500 again. The next critical support level is at $55,000, below which there is a chance of a drop to $53,500.
Ether (ETH)
After failing to clear the $4,800 barrier, ether failed to remain in the positive zone. Below the $4,650 and $4,600 levels, there was a negative reaction. The price of ether momentarily fell below $4,500 before resuming its upward trend. It is now seeing resistance at the $4,600 level. The next significant obstacle is $4,720, over which the price may re-enter the $4,800 resistance zone.
