Ethereum, Altcoin and Bitcoin Remain at Risky Positions – Find out Why

The prices of bitcoin experienced a bearish flow, which was reported to be below the support level of $50,000 U.S Dollars. What’s more, bitcoin saw a decline that was more than 15% in addition to being tested in the zone of $43,000 U.S Dollars. Fortunately, however, it ended up with a massive rebound later on, showing that it is still a crypto worth investing in and making a profit out of.

As far as altcoins are concerned, they seem to be down by around 15%, whereas ethereum declined by over $800 USD. What’s more, it even ended up getting tested in the support zone of $3000. In the case of XRP, this form of crypto ended up breaking the key 1.12 USD support after spiking lower than 1.00 for a while. ADA, on the other hand, experienced a sharp decline, after which it tested in the support zone of 2.00 USD.

Needless to say, things seem to be a little wayward in the world of crypto with prices being a little unstable. However, that is to be expected, especially when you consider that the comings and goings of crypto have been the same way for a long period of time. At the end of the day, the person investing in a particular form of crypto has to use their experience and knowledge to ensure that the investments they make are worthwhile.

During the previous couple of sessions, bitcoin prices happened to experience a massive decline which happened to be lower than 50,000 USD support. What’s more, BTC even ended up breaking several supports close to 48,000 as well as 46,000 USD supports. This may not seem like a big deal at the surface but a change like this is definitely noteworthy, especially when you consider the unstable nature of the crypto market.

The prices of ethereum have also been following a path that is somewhat similar. This happened when it ended up breaking the support level of 800 US Dollars and testing the USD support zone of 3000. During the recent days, a recovery wave had been reported and it was well over 3200 and 3350 USD. Needless to say, these prices are experiencing high resistance close to the level of 3500 USD.

However, there is more resistance to be expected in the near future, with experts reporting that the next one could be around 3550 USD. This may end up leading to an eventual increase in price down the line. With that said, it would be fair to say that while most forms of crypto remain at a risky position, they are still worth investing in for long term profitability.