On Monday, September 20, Bitcoin crashed to $45K which pulled cryptocurrency down. This includes Ethereum, the largest altcoin, which fluctuated 6.65%.
The world’s largest cryptocurrency by market cap collapsed 5.19% to $45,520.46 with a 24-hour change of $2,490.25.
Currently, Bitcoin has a market capitalization of $856.72 billion. Then, it has a 24-hour volume of $675.29 million and a low of $45,210 and a high of $48,328.17.
Moments later, BTC attempted to clear the resistance level of $48,500 and spiked to $48,750.
However, it failed to climb higher and began to decline. Additionally, it broke under the level of $48,000 and the 100 hourly simple moving average.
Then, Bitcoin price split the connecting bullish trend line with a foundation close to $48,000 on the hourly chart.
The last swing was established just about the $48,323 level before it subsided beneath $47,500.
Now, the bulls are guarding the support zone of $46,800 but a low was created near $46,827 and Bitcoin is consolidating its losses.
A swift resistance on the uptrend motion is close to the level of $47,200. The 23.60% Fibonacci retracement level of the recent downturn fell to a low of $46,827 from a high of 48,323.
Moreover, Bitcoin’s first important resistance stands on the level of $47,550. Also, there is a key bearish trend line establishing with resistance near $48,100 based on the BTC/USD hourly chart.
An analyst stated that the price must clear the zone of $48,000 to begin another rise.
He added that the next major resistance is near $48,500 where Bitcoin could easily increase to the key resistance of $50,000.
Crypto Down as Bitcoin Plunged
Furthermore, Ethereum plummeted 6.65% to $3,183.79. Currently, the world’s second-largest cryptocurrency has a market cap of $376.62 and a 24-hour volume of $16.09 billion.
Likewise, Cardano dipped 8.60% to $2.15 with a market capitalization of $69.48 billion and a 24-hour volume of $2.90 billion.
Then, Bitcoin Coin fluctuated 8.26% to $582.36 with a market capitalization of $11.01 billion and a 24-hour volume of $5.83 billion.
Consequently, Solana sharply fell 11.61% to $144.29. It has a market capitalization of $43.06 billion and a $24-hour volume of $3.28 billion.
Also, Uniswap tumbled 6.75% to $22.73 with a market capitalization of $13.86 billion and a 24-hour volume of $315.08 million.