For the day ahead, a move back through the morning high $0.38213 to $0.39 levels would support a run at $0.40 levels, with a broad based market recovery needed to bring the day's first major resistance level at $0.4164 into play. It was the first time since September 2017. The major cryptocurrencies and small market cap tokens have ended the day with some losses around 1 to 3 percent.
Bitcoin core (BTC) markets dipped to a low of $3,475 on November 24 but managed to rebound a hair back to the $3,817 range where it rests today.
This weekend's exodus has been a third wave of selling which has resulted in the loss of over $90 billion from crypto markets this month alone.
At the time of this writing, the Bitcoin price is trading at $3868.19 and is down by 10.34 percent with a market capitalization of around $67 billion as per the data obtained from the CoinMarketCap. Further BTC price downfall remains quite in line with the overall market situation.
The value of Bitcoin (BTC) has been on a continuous downward trend for the past few days. However, it looks like nothing seems to be in favor of the world's leading digital currency.
The great cryptocurrency crash of 2018 is heading for its worst week yet, with Bitcoin slipping closer to $4,000, extending the Bloomberg Galaxy Crypto Index's decline since November 16 to 23 percent, Bloomberg reported on November 23. BCH is down 18.2% today and over the last week, has lost 56% of its market value. At the time of this writing, the value of XRP dropped by 13 percent and now it is trading at a price of $0.34 with a market capitalization of $14 billion.
While their underlying technology - blockchain - has continued to excel, digital currencies are struggling to survive.
The fall is the latest in a series of blows for the cryptocurrency, which has seen its value fall 33 per cent in the last week. BCH prices pumped over 20 percent in the days leading up to the fork, creating a mild resurgence in the broader crypto markets.
The current crypto market downfall has made a huge impact on the operations of the crypto miners.
Will the cryptocurrency market rebound or continue to slide as Oanda believes?
Ethereum (ETH), which is now demonstrating a daily volume that is larger than that of Ripple (XRP) and Bitcoin Cash (BCH) combined at $2.2 billion, dropped to $98, falling to a double-digit for the first time since May 2017.