Bitcoin Rebounded to $45K Following a Slide in Early Trading

Bitcoin Rebounded to $45K Following a Slide in Early Trading

On Tuesday, September 14, Bitcoin rebounded to its yesterday’s price of $45K following a drop to $44K in early trading. Likewise, Ethereum also bounced back to $3.3K.

The world’s largest cryptocurrency by market cap increased 0.76% to $45,261.51 with a 24-hour change of $343.18.

Currently, Bitcoin has a market capitalization of $851.59 billion. Then, it has a 24-hour volume of $1.30 billion with a low of $43,480.54 and a high of $46,843.67.

In early trading, BTC extended its losses under the level of $45,000. It even sharply fell to the support level of $44,200 and stayed beneath the 100 hourly simple moving average.

Fortunately, there was no downtrend continuation below the level of $43,500. Besides, a low was created at just about $43,374 then it started a steady upturn.

Additionally, Bitcoin broke over the $44,200 resistance level. It cracked the 50% Fibonacci retracement level of the recent fall to $43,374 low from $46,879 high.

Now, the price faces a robust resistance close to $45,500 and the 100 hourly simple moving average.

Also, the 61.80% Fibonacci retracement level of the previous slide to $43,374 low from $46,879 serves a resistance near $45,550.

Still, the major resistance is approximately near the zone of $46,000.

An analyst said that Bitcoin must surpass the 100 hour SMA, the trend line zone, and the $46,000 level to reach a positive area.

Then, the next important resistance sets up close to the level of $47,350. This is where the price could climb approaching the key resistance of $48,500.

However, BTC could make another decline if it failed to clear the resistance zone of $46,000.

Crypto Mixed as Bitcoin Bounced Back

Furthermore, Ethereum also rebounded to yesterday’s price. It rose 1.19% to $3,310.76 with a market cap of 388.38 billion and a 24-hour volume of $22.32 billion.

Likewise, XRP jumped 0.84% to $1.07 with a market capitalization of $50.00 billion and a 24-hour volume of $4.6 billion.

Meanwhile, Solana was flat at $167.548 with a market cap of $49.58 billion and a 24-hour volume of $5.60 billion.3

On the other hand, Bitcoin Cash plummeted 1.66% to $617.46 with a market capitalization of $11.63. Then, it has a 24-hour volume of $6.14 billion.

The same with Dogecoin which fluctuated 0.92% to $0.24 with a market capitalization of $31.07 billion and a 24-hour volume of $1.65 billion.

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