Crypto-currencies test key levels of the 2017 uptrend

Cryptocurrency markets are trading at significant long-term price zones, with BTCs currently in between key levels from the 2017 hike. BCH and ETH also continued to consolidate over the core zone. 100 dollars.

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BTC transactions between the main long-term price zones

In the last two months, BTC has defined a price range corresponding to the long-term importance zones.

At the time of writing these lines, the bulls are trying to build support at around $ 3,600 after bouncing back on what could be a lower level in the $ 3,400 zone. Until now, in 2019, BTC had not yet tested the lowest level of last year, about 3,100 dollars, and the price action did not. Not over resistance at $ 4,400.

As of mid-2017, price levels correspond to key areas ranging from $ 5,000 to the first BTC race, in addition to the five-digit track and recovery.

In the initial $ 5,000 run, BTC went from $ 3,200 to $ 3,400 before jumping to a record $ 4,400. BTC then established local support of $ 3,600 and then rallied to set a new record of $ 5,000.

After receiving $ 5,000, the $ 4,400 area included the shoulder line of the asymmetrical head and shoulders pattern that preceded the violent retracement to $ 3,000. BTC currently has a market capitalization of $ 63.55 billion and a dominance of 52.9%.

BCH consolidates above the 2018 low

Bitcoin Cash is consolidating to the lowest possible level, BCH currently trading at $ 119 after exceeding its $ 100 support. Despite rising prices, BCH has made several major downward trends in recent weeks.

Compared to BTC, BCH also consolidates its higher level than the 2018 low, the money in bitcoins currently trading at 0.0335 BTC. Bitcoin is currently the sixth largest cryptocurrency with a market capitalization of 2.14 billion and a 1.78% domination.

Ethereum recovers the second largest market capitalization

Ethereum has also spent the last few months negotiating between key price levels since ETH's first breakthrough in triple digits in mid-2017.

After hitting a low of $ 80 in December, ETH rallied to test resistance at around $ 175 in early 2019, markets having since been reestablished to establish local support at $ 100.

When compared to BTC, ETH still oscillated between important long-term price zones. ETH is currently attempting to build support in the 0.0333 BTC area, the former market record set in March 2016 before being overtaken a year later.

ETH is currently the second largest cryptographic badet with a market capitalization of nearly $ 12.73 billion and a dominance of 10.50%.

What do you do with the current market structure? Do you anticipate that 2019 will be a bull or a bear? Share your thoughts in the comments section below!

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Warning: Price articles and market updates are for informational purposes only and should not be considered as business advice. Neither Bitcoin.com nor the author are responsible for any losses or winnings because the ultimate decision to make a transaction is taken by the reader. Always remember that only private key holders control "money".

Samuel Haig

Samuel Haig is a journalist completely obsessed with bitcoin and cryptocurrency since 2012. Samuel lives in Tasmania, Australia, where he studied at the University of Tasmania where he specialized in political science and journalism, media and communications. Samuel has written on the dialectic of decentralization and is also a musician and kangaroo horse enthusiast.