On Monday, September 13, Bitcoin fell to $45K making altcoins’ price mixed. Also, Ethereum ended its week-long rally for the second time and stayed at $3.3K.
The world’s largest cryptocurrency by market cap plummeted 0.53% to $45,004.44 with a 24-hour change of $238.22.
Currently, Bitcoin has a market capitalization of $846.71 billion. Then, it has a 24-hour volume of $562.54 million with a low of $44,844.05 and a high of $46,417.10.
Last September 10, BTC closed under the 200-day simple moving average of $45,894, however, bears were not able to capitalize on this move.
At the moment, the bulls are trying to push the price of Bitcoin back above the 200-day simple moving average.
An analyst stated that the moving averages are near to accomplish a golden cross. This indicates that the advantage is about to shift favoring the bulls.
If buyers shove the Bitcoin over $47,399.97, the BTC/USD pair will strive to stand up to the $50,500 to $52,920 zone.
However, the bears are expected to defend the overhead zone aggressively.
Nonetheless, if bulls will not give up much ground, there is a possibility that a break above $52,920 will happen. If so, Bitcoin could rally to $60,00.
On the flip side, if the price fell from the current level, this means that bears are hardly defending the 200-day SMA. Then, the pair could retest the critical support of $42,451.67.
Another analyst said that a break under this level could shift the advantage which favors the bears.
According to the 4-hour chart, the price already fell from $47,550 on two occasions. Therefore, this became a major level to beware of in the short term.
Crypto Mixed as Bitcoin Plunged
Furthermore, cryptocurrencies were mixed as some altcoins increased while some decreased as Bitcoin’s price fluctuated.
Ethereum, which is the world’s second-largest crypto by market cap, ended its week-long rally for the second time.
It subsided 0.64% to $3,301.89 with a market capitalization of $388.77 billion and a 24-hour volume of $16.89 billion.
Likewise, Bitcoin Cash lost 0.02% to $631.83 with a market capitalization of $11.92 billion and a 24-hour volume of $5.52 billion.
Meanwhile, Uniswap jumped 0.09% to $22.47 with a market capitalization of $13.87 billion and a 24-hour volume of $477.12 million.
The same with XRP which also increased 0.55% to $1.04. It has a market capitalization of $50.56 billion and a 24-hour volume of $3.50 billion.