Market Review. Results of the Day. Wrong Reverse Turn. 03/06/2018

March 7, 2018


BTC $10,800.10

ETH $818.44

XRP $0.91558

BCH $1,202.70


Technical analysis.

Today cryptocurrency has fallen by an average of 6%. Biggest losers are IOTA, NEO and Bitcoin.

Bitcoin has turned back without reaching the level of $12,000. It was the third unsuccessful attempt of the cryptocurrency to break out from this level in the last two months. After another failure of bulls, the probability of a new falling trend has largely increased. If the price breaks down the support level of $9,000, then the further drop may happen. 

Not the brightest situation has emerged for IOTA. A continuation pattern called flag has formed on the chart. If the price breaks down the support level of $1.3-1.5, then the fall may accelerate with the target level of $0.5.

Ripple today lost everything it gained yesterday. Breakout of $1 opens a new support level of $0.7. If the price breaks it down, then the new target level is $0.3.

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