So much even that it would appear another round of bearish pressure will materialize at any given moment.
IOTA Price Decline is Real
It was to be expected the weekend would bring more bearish pressure across all cryptocurrency markets.
As far as the IOTA price is concerned, the losses have begun to mount pretty quickly over the past few hours.
More specifically, the market is currently faced with a 3.87% decline in IOTA price over the past 24 hours.
A declining Bitcoin price pushes the IOTA price down as well, and it seems no real changes will occur in this regard.
The Ethereum price is taking a massive beating as of right now, as it has dropped below $ 485 once again. Ethereum Price Pressure Intensifies Over the past few weeks, there has been an increasing amount of bearish pressure across all cryptocurrency markets.
Key Highlights Ripple price came under a lot of pressure and declined below the $0. 5800 support area against the US dollar. There is a new connecting bearish trend line forming with resistance near $0.
In the previous BTC-USD market analysis, we discussed a macro pattern forming, called a “symmetrical triangle. ” A symmetrical triangle (shown in red) is a directionally agnostic consolidation pattern.
Speculation is an integral part of the cryptocurrency industry. This becomes even more apparent when there is a lot of bearish pressure on the market. One has to wonder why these sell-offs keep happening so regularly.
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