The crypto market has declined by 0.81%, with Bitcoin falling below $64,000 and Ethereum nearing $3,100.
Bitcoin has broken below its 99-day moving average and is attempting to close below the $62,000 level.
Ethereum is also facing downward pressure, with the RSI showing bearish signals. We might see a decline towards the $2,800 support level.
Aave has successfully broken above the $106 resistance level and is poised for further upward movement to the $153 level.
After a retest of the $1 support level, Mantra is positioning itself for a rebound, with a target of $1.41.
The crypto market has declined further today by another 0.81%. Bitcoin now trades below the $64,000 price level, and the general market heatmap has turned almost entirely red, as shown:
Bitcoin is down to $63,861, with Ethereum nearing a break below the $3,100 price.
Some of the biggest losers include Arweave, Beam, Sei, DogWifHat, and Ordi, all of which registered 10% to 8.5% declines in the last 24 hours.
The liquidation data remains just as harsh as yesterday, with $248 million wiped from leveraged traders across the board.
As expected, the bulls took the worst hit, losing $187 million compared to the bears’ $61 million.
In summary, the market still favours the bears today, and it might help to approach cautiously.
As shown, Bitcoin declined below its 99-day moving average on Thursday and hit the $62,000 zone.
However, the bulls stepped in and prevented a close below this price level, leading to Bitcoin’s stability so far.
Today, however, the bears appear to be attempting to sink Bitcoin below this moving average again, with a valid close below.
Bitcoin is showing strong signs of an impending crash further down, and investors should be on high alert.
The Ethereum bears also attempted to push the cryptocurrency into a break below its $3,000 support yesterday before the bulls stepped up to protect this price level.
As shown, the bears are attempting to sink the cryptocurrency further down once again as Ethereum strays further away from its 99-day EMA of around $3,322.
The RSI on the daily chart is starting to show signs of gravitating towards bearish territory, and this might be the warning bell for investors to hope for the best but prepare for the worst.
The “worst” being a retest of the ascending trendline above, around $2,800.
As shown in the charts, Aave finally registered a sustained break and close above the $106 price level, after breaking below on 16 April.
The cryptocurrency currently trades at around $116 and might experience a mild pullback from current price levels.
However, once this post-breakout consolidation phase is over, we can expect Aave to travel further upwards for a retest of the $153 price level.
According to the charts, Mantra broke above the $1 mark on 15 July and hit $1.41. However, soon after this, the bears took over again and sunk the cryptocurrency further down to the $1 zone once again.
This retest phase now appears to be over, with the cryptocurrency aiming for a rebound from here.
To confirm that the bulls are back in control, we first have to see a break above the $1.41 resistance, which in itself is a 20% rally to the upside.
However, if this break happens, the cryptocurrency should be poised to make a new all-time high, likely around $2.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.