Topic: Bitcoin, Ethereum and Altcoins Lose Momentum (Read 198 times)

altcoins that includes ethereum never had any decent momentum to lose it. all they always have is pump and dumps that you could refer to as a half ass momentum which is bound to end at some point when the dumping starts.
additionally whenever bitcoin price is having big changes (a big rise or a big fall) the altcoins get all dumped as traders pull their money out of them knowing their price is going to tank no matter what.

This is what I'm thinking after looking at the recent correction that we're having. Just like maybe a month or 3 weeks ago, when it firstly hit $12,000 the price starts to dump rapidly and stayed to $11,000 and recovered fast.

This time, it has dipped to $10,200 and that should be resistance and once it has calmed down again. We could see an increase again and it will eventually back to $11,000 - $12,000 and will also start to break the barriers from that level.

Do you really have to Specifically mentioned each coins in title when it is more easy to Say "The WHole Market is Losing Momentum"?

Looking at the market now all i see now is Bloody red (only few that still in Green) meaning this is either correction or Bearish again.

Bad that this happen in September in which near to the start of 4th quarter and looking at last year performance in these days the market Go Rise again.

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But Hoping that this is Correction Only,because we have reached the Highest from 2 years Bear and i believe that this Needs to be corrected
before Flying high again and break that 12k barricade.

For now it's unlikely to happen Bitcoin dominance is big factor and all the pairings of altcoins are on Bitcoin, even if the altcoin has a good potential in the market the price will likely drop if Bitcoin price headed toward a different direction, the big drop is very surprising, I just woke up just now to see a big 9% drop, I keep watching the price if it will drop further and where is the support level will become strong.

It won't happen as most of the altcoins are trading against BTC = altcoin/BTC pairs.

We really don't know what the cause of the flash crash, more than 10% already, perhaps there is manipulation and some whales put a lot of sell orders pressuring the market and those noobs traders follow suit and push the sell button.

Currently @10300 and still slipping down, let's see how everything pans out, on a hindsight, another buying opportunity.

Most often when the price of BTC fell, other altcoins follows. I hope this will change in the near future where alternative coins can stand on their own without been affected by the price of BTC

Well resistance at $11,200 has been holding for weeks now, and it looks like it weakened with all the negative news and eventually collapses, seeing the price goes to below $11k. So it a break out that we don't want to happen, however, I say that this kind of healthy corrections is needed for now. Because it seems that people are in the FOMO mode. The graph shows EMA has been broken, so this price correction might continue. But I'm not seeing the price going down to $9k though.

We are heading down to 10400 yet the current price as of this writing is 10700.I didnt even expect that we would be heading this price once again since majority had believed that 12k barrier
or resistance had already been broken and be playing around on 12k levels going through 13k but bitcoin did break those expectations and hopes.

Im not really surprised when these kind of threads popping out from nowhere telling something when the market tends to correct or had price down.

People still got surprised with these upward and downward movements? If you've been here on this market then its non a shocking thing.

Yes and until we really break into sub $10k, we are still in the bullish trend, if not then we may have witnessed a new bottom. And I think investors are just waiting for it to happen, if $9k is achieved, this is a good buy entry. And just to be fair, even global traditional markets also decline in the past 24 hours, stocks and gold also plummeted together will cryptos.

Is this not out of date?

I can only speak for bitcoin but we fell some time ago and 11500 wasn't really much of a support/resistance zone as we'd gone through it so much recently. The main decision will be made if we break either the 10400 or the 12400 levels imo at this time.

Bitcoin price started a sharp downward move after it failed to stay above the USD 11,650 support. BTC even declined below the key USD 11,550 support and revisited USD 11,200. It is currently (08:30 UTC) correcting losses, but it must surpass USD 11,550 for a fresh rally.
Similarly, most major altcoins declined heavily and trimmed most of their gains, including ethereum, XRP, litecoin, bitcoin cash, EOS, XLM, LINK, and ADA. TRX was an exception, as it climbed above USD 0.035 and gained over 5%. ETH/USD is down over 8% and it even tested the USD 420 support. XRP/USD broke the USD 0.280 and USD 0.278 support levels to move into a short-term bearish zone.


Bitcoin price
After a failed attempt to clear USD 12,000, bitcoin price started a sharp bearish wave below the USD 11,650 and USD 11,550 support levels. BTC trimmed over 5% of its value and it even revisited the USD 11,200 support. The price is currently recovering above USD 11,350, but it is facing a lot of hurdles near USD 11,450, USD 11,500, and USD 11,550.
To start a fresh increase, the price needs to surpass the USD 11,550 pivot level. If not, there is a risk of more losses below USD 11,200.

Ethereum price
Ethereum price trimmed most of its gains and declined heavily below the USD 450 support. ETH traded close to the USD 420 support and it is currently recovering higher. There was a break above USD 435, but the USD 445 and USD 450 levels are important zones for a trend reversal.
On the downside, the price might continue to find a strong buying interest near the USD 420 level. Any further losses could lead the price toward the main USD 400 support zone.

Bitcoin cash, chainlink and XRP price
Bitcoin cash price is down 8%, and it broke the USD 275 and USD 265 support levels. BCH is consolidating near the USD 260 level and it might revisit the USD 250 support. The next key support is near the USD 235 level. On the upside, the price might struggle to gain pace above USD 268 and USD 270.
CHAINLINK dropped heavily after it failed to stay above the USD 15.50 support. The price tested the USD 13.80 zone and it is currently consolidating above USD 14.00. On the upside, an immediate hurdle is near the USD 14.80 and USD 15.00 levels. The key breakout zone for a decent increase could be the USD 15.50 level.
XRP price declined over 5% and it broke many supports near USD 0.285 and USD 0.280. It opened the doors for more losses and the price even declined below USD 0.275. If there are more downsides, the price might dive towards the USD 0.262 support zone. On the upside, the previous support at USD 0.278 is now a barrier for a fresh increase.

Other altcoins market today
In the past three sessions, many small altcoins declined more than 10%, including AMPL, ANT, QTUM, ALGO, YFII, OMG, ATOM, REN, SXP, BTM, NXM, REP, EOS, and BCD. Conversely, LRC and UMA followed a bullish path and gained over 10%.

Overall, bitcoin is back to the key USD 11,200 support zone. If BTC remains stable above USD 11,200, it could bounce back and start a fresh increase. Conversely, there could be a sharp slide below USD 11,200 and USD 11,000.

To know more, please follow the link: https://cryptonews.com/news/bitcoin-ethereum-and-altcoins-lose-momentum-7606.htm