Bitcoin Price Continues to Fall while Ethereum Jumped 2.56%

On Tuesday, August 31, Bitcoin continued to tumble after its fall last Monday. Meanwhile, cryptocurrency prices were mixed as Ethereum increased 2.56%.

The price of Bitcoin slipped again by 1.78% to $47,098 after falling yesterday to $47,952.73 with a 24-hour change of $854.73.

Currently, it has a market capitalization of $885.53 billion with a 24-hour volume of $1.14 billion.

In addition, the world’s largest cryptocurrency has a 24-hour low of $46,715.60 and a 24-hour high of $48,715.08.

Moreover, Bitcoin had a hard time clearing the resistance zone of $49,000 and instead made a new price fluctuation.

An analyst said that it traded under the $48,500 and $48,000 support levels and passed to the short-term bearish area.

Also, a split happened below a key falling channel with support close to $47,500, according to the BTC/USD pair hourly chart.

Now, the pair is trading beneath $48,000 and the 100 hourly simple moving average and tested the zone of $46,700. Currently, Bitcoin is consolidating its damages.

Based on the analysis, an instant resistance is just about the level of $47,150.

This is close to the $23.60% Fibonacci retracement level of the previous fall to a swing low of $46,697 from a swing high of $48,736.

As a drawback, the price of Bitcoin is seeking to bid within reach of the $46,700 level. Additionally, the next key support is expected to reach the $46,500 zone.

Another analyst commented that the price could proceed to move down if there will be a downtrend burst under the $46,500 support zone.

Crypto Prices Mixed as Bitcoin Fell

Meanwhile, Ethereum jumped 2.56% to $3.243.49 with a market capitalization of $380.08 billion. Additionally, it has a 24-hour volume of $1.22 billion.

Likewise, Uniswap increased 2.14% to $26.76. It has a market capitalization of $26.76 billion and a 24-hour volume of $432.99 million.

Consequently, Polkadot soared 7.37% to $27.11 with a market capitalization of $29.51 billion. Also, it has a 24-hour volume of $1.60 billion.

On the other hand, Bitcoin Cash decreased 2.25% to $630.40 with a market capitalization of $11.87 billion and a 24-hour volume of $4.65 billion.

The same with Dogecoin which crashed 2.01% to $0.27. It has a market capitalization of $35.97 billion and a 24-hour volume of $1.44 billion.

Lastly, XRP slipped 0.22% to $1.13. It has a market capitalization of $112.50 billion with a 24-hour volume of $3.50 billion.