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Top Altcoins to Hold Amid Geopolitical Tension in Middle East
The post Top Altcoins to Hold Amid Geopolitical Tension in Middle East appeared on BitcoinEthereumNews.com. Crypto Price Prediction: The cryptocurrency market prolonged its correction on April 13th as the geopolitical tension in the Middle East triggered selling pressure across finance markets. The Iranian attack on Israel initially caused panic among market participants leading to a notable downturn in the crypto market. In the last 24 hours, the Bitcoin price plunged 5% to currently trade at $64234, while top altcoins like Ethereum (ETH), Binance coin (BNB), and Solana (SOL) fell 7%. In the same period, Coinglass reports a total of 256,589 traders were liquidated, amounting to $962.4 million in losses, with the largest single liquidation of $8.46 million occurring on Binance for a BTC/USDT trade. Having said that, Bitcoin is often viewed as a macro hedge indicating that it absorbed much of the immediate aversion to risk. Thus, with the upcoming Bitcoin halving the crypto investor may find a suitable discount opportunity in top altcoins. Also Read: Crypto Market Crash: Here’s Why Bitcoin, ETH, SOL, XRP, SHIB Fell Sharply 1) Ethereum (ETH) Ethereum is a decentralized, open-source blockchain system featuring smart contract functionality. It stands out as the leading programmable blockchain, where developers can create decentralized applications (dApps) and deploy them on the platform. This second largest cryptocurrency Ether witnessed notable supply pressure this week, leading its price from a high of $3730 to $3021 registering a 20% drop. The market cap of the Ethereum coin also fell to $363 Million, but the trading volume surged to $34 Billion accounting for a 36% jump since yesterday. This high volume drop breaks below the 38.2% Fibonacci retracement level at $3100, favoring sellers for a prolonged downfall. For the falling ETH price, the $2800 level stands as a crucial support zone as currently coincides with 50% FIB, 200-day EMA, and a long-coming trendline. Thus, the buyers need to…
The post Top Altcoins to Hold Amid Geopolitical Tension in Middle East appeared on BitcoinEthereumNews.com.
Crypto Price Prediction: The cryptocurrency market prolonged its correction on April 13th as the geopolitical tension in the Middle East triggered selling pressure across finance markets. The Iranian attack on Israel initially caused panic among market participants leading to a notable downturn in the crypto market. In the last 24 hours, the Bitcoin price plunged 5% to currently trade at $64234, while top altcoins like Ethereum (ETH), Binance coin (BNB), and Solana (SOL) fell 7%. In the same period, Coinglass reports a total of 256,589 traders were liquidated, amounting to $962.4 million in losses, with the largest single liquidation of $8.46 million occurring on Binance for a BTC/USDT trade. Having said that, Bitcoin is often viewed as a macro hedge indicating that it absorbed much of the immediate aversion to risk. Thus, with the upcoming Bitcoin halving the crypto investor may find a suitable discount opportunity in top altcoins. Also Read: Crypto Market Crash: Here’s Why Bitcoin, ETH, SOL, XRP, SHIB Fell Sharply 1) Ethereum (ETH) Ethereum is a decentralized, open-source blockchain system featuring smart contract functionality. It stands out as the leading programmable blockchain, where developers can create decentralized applications (dApps) and deploy them on the platform. This second largest cryptocurrency Ether witnessed notable supply pressure this week, leading its price from a high of $3730 to $3021 registering a 20% drop. The market cap of the Ethereum coin also fell to $363 Million, but the trading volume surged to $34 Billion accounting for a 36% jump since yesterday. This high volume drop breaks below the 38.2% Fibonacci retracement level at $3100, favoring sellers for a prolonged downfall. For the falling ETH price, the $2800 level stands as a crucial support zone as currently coincides with 50% FIB, 200-day EMA, and a long-coming trendline. Thus, the buyers need to…
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