Bitcoin (BTC) price remains bearish after the recent crash. The gloom has spread to the rest of the altcoins, with Ethereum (ETH) and Ripple (XRP) pri
What is circulating supply?
The pivotal support level of $26,012 holds significance, having previously functioned as a robust resistance threshold. A breach and subsequent close beneath this level would contribute to the existing downward trend, potentially propelling prices toward the critical psychological milestone of $20,000. This equates to a decline of approximately 23% from the current price level.
The more prudent approach, therefore, would involve awaiting price confirmation below the $26,000 level before considering entry into a short position.Conversely, a resurgence by sidelined investors could restore Bitcoin price back into the bullish technical formation, with the potential to breach the $30,699 resistance level.Ethereum price shows an impending downward trajectory, substantiated by the breach of the ascending trendline.
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