The crypto market has started the day again on a bearish note, with a 1.48% decline in terms of total market cap, from around $1.64 trillion to around $1.62 trillion.
The crypto market has also turned into a sea of red, as shown below:
Bitcoin is now fighting to stay above $41,000, and Ethereum is already far below $2,500. In terms of liquidations, the crypto market’s traders have also lost around $85 million over the last day.
Interestingly enough, most of the liquidations over the last day were bullish, with most of them occurring between Bitcoin, Ethereum and all the other smaller altcoins.
Today, we can conclude that the bears have the floor in terms of control.
However, considering the low amount of liquidations, the volatility in the market has either been really low as of late, or the bulls are not trying as hard as they should, to win against the bears.
This Isn’t A Joke To Bitcoin’s Bears
Over the last day, the Bitcoin bears have attacked again, pulling the price of Bitcoin down into a retest of the $40,700 zone as shown below:
This shows a great deal of strength on the part of the bears, and a possible break below the $40,700 zone would not be far-fetched by any means.
The RSI on Bitcoin's daily chart shows that we are deep in bearish territory, and investors can only pray that we don't see a decline straight down to $38,000 or lower.
Ethereum Is Down Below $2,500
Just like Bitcoin, the Ethereum bears found a chance to flex their muscles and they did.
This weakness on the part of Ethereum's bulls puts the cryptocurrency at a serious risk of dropping straight down to $2,120 once again if the bulls are unable to step in at $2,400.
Mantra (OM) Has Been On A Tear
According to the charts, Mantra has been straight-up bullish since December of 2023, as shown by the chart below:
The cryptocurrency currently trades at around $0.1135 and is on the verge of testing the $0.143 resistance.
This means that Mantra has a somewhat clear path to $0.143 before the bears either sink its price or allow a rally to $0.21.
Watch Out For Stafi (FIS)
Stafi has a pretty interesting setup going on. Firstly, it has declined sharply from its all-time high.
Secondly, this means that it is now poised for a price explosion, anytime from now.
FIS currently trades at around $0.46 and appears to have broken above the $0.39 resistance as shown above.
This shows that FIS has taken the first step towards a price explosion to the upside, and is now more poised than ever to reclaim its previous highs.
AMP Up The Music
According to Binance, AMP attempted a break above the $0.0038 resistance but was rejected from here shortly after. This rejection caused a decline to $0.003.
However, according to the chart above, AMP is attempting another break above this resistance and may be poised for a rally to $0.005 at least, if we do see a break above this price level.
In essence, this price rally is expected to take AMP up by around 40% or even higher, depending on the performance of the bulls.