After struggling in recent times, the price of bitcoin is trying to rise from what it is at the moment. It has seen a resistance level of $6,800 and $6,850. Against the United States Dollars, bitcoin was not able to rise farther. Analysts think the king of cryptos might fall even more.
Just like Bitcoin, other cryptocurrencies are struggling to stay afloat with their prices dwindling below their previous resistance levels. Altcoins such as ripple, litecoin, ethereum and others are trading well below their resistance levels. Ethereum against the USD has not made it past $138 and $140. As for ripple it is stuck at $0.165 against the dollar and it has even dropped down to USD 0.160.
PRICE OF BITCOIN
Bitcoin runs the risk of falling even farther than what it is at the moment if it fails to rise and stay over $6,500. The price of bitcoin against the USD has fallen well below USD 6,700 and seems to resting around the $6,500 mark. The possible support area that the price might drop to is likely to be $6,200 followed by $6,000.
If the price decides to rise then it possibly would get up to 6,750 and further up to $6,850. There is a possibility of rising farther to support levels such as $7,000 and $7,200.
PRICE OF ETHEREUM
Against the USD, ethereum has had a hard time staying over $138 and $140. They have been stuck at the resistance levels. The price of ethereum in USD is selling at the $135. It could fall even farther to $125. Ethereum may rise to $138 and $140. At the price of $140 the value could extend to way up to $150 and $155. The price of ethereum has been taking a beating and it could either rise or fall down to the above mentioned support areas.
PRICE OF OTHER ALTCOINS
Other Altcoins albeit struggling as well to stay afloat have in the last three trade sessions, gained 5%. Some of these coins include REP, DGB and SNX.
The price of bitcoin as mentioned earlier is at $6800 against the dollar and if it manages to fall even further than the support level of $6500 the next drop would like be more significant. If it rises above the support level it might lead to a continuous increase that will hit about $6850 which will be a welcomed development for bitcoin traders and holders.