Bitcoin (BTC) Price Breaks Important Support Level, Will Bitcoin Recover in The Short-Term?

cryptocurrency

Smartereum recently reported the drastic decline in BTC dominance. BTC dominance is gradually reducing, and it is now down to 50 percent. Bitcoin (BTC) is the most dominant digital currency in the market. The decline in the dominance level of the digital currency is greatly affecting its value. Bitcoin (BTC), which recently surged over the $4k level, just broke below an important support level. BTC just tested the support close to $3,940 against the USD. Still we wonder, will bitcoin recover?

Bitcoin Price Prediction 2019 – Will bitcoin recover?

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$9,257.00
0.86%

After failing to break over the $4,100 resistance level, BTC price began a sharp downward trend. Bitcoin (BTC) formed a swing high close to the $3,980 level and later plunged beneath the $3,040 support zone. Buyers lost control and Bitcoin price plunged below the $3,900 mark.

Bitcoin USD live price even tested the low of $3,855 and plunged beneath the 100-hourly simple moving average before it started correcting higher. The value of the coin later corrected higher and broke over the $3,900 mark. At the moment, Bitcoin USD live price is facing resistance at the $3,980 level. The digital currency is still in the red, and it is signaling additional losses below the $3,900 level.

At the press time, Bitcoin USD live price is $3,920 after a decrease of about two percent over the past twenty-four hours. The current market cap of the digital currency is $69.37 billion. The trading volume of Bitcoin is on the high side, as it has recorded $17.26 billion over the past day.

Litecoin Price Prediction 2019 – Litecoin Price Analysis

Litecoin (LTC) Price Today – LTC / USD

Name Price24H (%)
Litecoin (LTC)
$134.85
-2.03%

The performance of Litecoin (LTC) over the past week was pretty impressive. The digital recently broke two major resistance levels – $60 and $62. Nevertheless, the digital currency has failed to maintain its gain as a new week begins. The recent price plunge across the market also affected Litecoin, as it broke below the $60 support level. The reducing BTC dominance did not only affect Bitcoin, but other coins are also affected.

The value of Litecoin is showing signals of further declines, and it might plunge to the $55 support area. At the time of writing, Litecoin (LTC) is trading at $58.5 after a decrease of about two percent over the past twenty-four hours. The immediate resistance of the digital currency is at the $60 level – its previous support level. Litecoin current boast of a market cap of $3.6 billion with a trading volume of $2 billion over the past day.

Tron (TRX) Price Prediction 2019 – Tron (TRX) Price Analysis

TRON (TRX) Price Today – TRX / USD

Name Price24H (%)
Bitcoin (BTC)
$9,257.00
0.86%
TRON (TRX)
$0.033048
-1.40%

Tron (TRX) has been struggling to maintain a steady price range. The digital currency recently broke over the $0.0230 hurdle point but plunged lower again as it fails to hold gains. However, the $0.0222 and $0.0220 levels still act as support for the coin. The immediate resistance of the coin is close to $0.0230 and $0.0232.

According to CoinMarketCap, Tron (TRX) is changing hands at $0.0227 after a decrease of about two percent over the past twenty-four hours. The current market cap of the digital currency is $1.48 billion and its trade volume over the past day is $222.82 million.

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