What The Price Charts Look Like Now

Cryptocurrencies have been in the bear market for months, but this week’s actions have fallen below major price support levels, which is an unfortunate event for those who own things. The support level is sufficient for buyers to enter the market early and stop selling. This time they didn’t show up.

Announcement from Celsius Network
CEL
The fact that the platform would not allow withdrawal seems to have triggered new sales. Whatever the reason, this market is far from advising viewers that “luck is in favor of the brave” from Matt Damon’s Procrypt Super Bowl commercial.

The Bitcoin daily price chart looks like this:

Its horizontal red dotted line represents the level that buyers introduced in early May to support Bitcoin prices. You can see how the hard selling on Monday brought cryptocurrencies below that level in bulk and relentless ways.

Here is the Bitcoin weekly price chart:

This sale is below the June / July 2021 support level, which seemed to come just above the May 2022 buy. What is the next level of support? It may be the November / December 2020 area where Bitcoin went on sale before it took off again. Lower than that, chart analysts are probably talking about 12500.

ether
ETH
The daily chart of eum is as follows.

Notable is how cryptocurrencies continue to gain support levels in the middle of a downturn. That’s what the drop page below the red dotted line represents, and it just keeps happening. Mass sales on Monday made Ethereum even lower, but support was already broken a few days ago.

This is what the Ethereum weekly price chart looks like now.

Sales are big enough to make this cryptocurrency well below the June / July support area near 1750. Ethereum has already returned to nearly 1200 levels in late 2020 / early 2021. Damon’s half-time commercials on behalf of crypto may go down into financial history as one of the great opposition signals.

This is XRP
XRP
Daily Price Chart:

Penny stock, a major cryptocurrency, also known as Ripple, hit a May low on Monday. Note that XRP has fallen from its December 2021 high of $ 1.00 to its current price of $ .31. You don’t have to do too many calculations to understand what percentage of the drop it is. Volatility is a characteristic of cryptography, which is a good example for studying.

The weekly price chart for XRP looks like this:

All the way up and almost all the way back, this is what I see. Ripple reached nearly $ 2.00 in April 2021, when all cryptocurrencies found the top. What a free fall from there. Notice that it is currently trading at $ .31 and has been significantly below the previous $ .50 support level since June / July 2021.

What an era.

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It’s not investment advice. For educational purposes only.