Following a mixed week last week, a bearish start to the week could weigh should the majors fall below key levels.
Tron led the way in what was a relatively bearish week last week and things have not got much better for the broader market at the start of this week… More losses or a rebound on the cards?
Can increased adoption across a number of the crypto majors restore some faith in the broader market and deliver the beginnings of a recovery?
It’s a bearish start to the week for the majors, a recovery by mid-week needed to avoid heavier losses and slide through the week’s major support levels.
There’s upward momentum mid-week, with Ethereum needing a move back through to $140 levels to support a run at $160 later in the week.
It was another weekly loss, but this morning could deliver a much-needed boost, holding onto key levels at the start of the week key to avoiding another week of heavy losses.
Following some heavy losses last week, the majors are back in the red at the start of the week, leaving the bears firmly in the driving seat as the year comes to a close.
Key HighlightsEthereum slid by 17.45% on Monday, following on from last week’s 16.14% fall, to end the day at $145.21A start of a day intraday high $175.92 fell short of the first major resistance level at $180.A slide to a late in the day intraday low and new swing low
Bitcoin was bullish for the majority of last week, hitting new monthly high’s on optimism for more institutional investments, but it returned some of its recent gains on regulatory jitters. The SEC reportedly ended its public comment period on Bitcoin ETF applications, which suggests that a decision could be announced