BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.

Bitcoin update

Despite hinting at a bullish bounce, BTC technical indicators are back to bearish.

The bounce from April 18 has proven weak. BTC has continued its downward trend since its last all-time high on April 14.

Currently the price has fallen below $54,500, which previously acted as support. 

The RSI is trading below 50. The Stochastic oscillator has just made a bearish cross and the MACD has crossed negative. 

The next support level would be found at $47,675, created by the 0.786 Fib retracement level.

If BTC doesn’t reclaim its support line another low is expected.

Altcoin movers

The top-10 crypto market cap rankings are much the same. However, there has been a much stronger downturn for most coins overnight.

Maker (MKR) is the biggest altcoin mover trading at $4,634.05, a gain of 28.72% at the time of publishing. MakerDAO recently voted on its liquidation system upgrade.

Dogecoin (DOGE) was the biggest loser for the second day in a row. The coin dropped 14.72% to $0.2752. These drops are still small compared to the impressive pump the coin got recently.

This drop also pushed it another slot down, falling to seventh place as Cardano (ADA) stepped into sixth.

In other crypto news

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.