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.
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.
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