BTC$27 080.57


ETH$1 893.90




Binance Coin


USD Coin




Bitcoin falls below $48,000 as recent rally runs out of steam

26 Aug 2021


The price of Bitcoin dropped below $48,000 on Wednesday as the recent rally continues to run out of steam following the breach of $50,000 earlier this week. The downside stemmed after Bitcoin found resistance ahead of the key $51,000 level, which is also the 61.8% Fibonacci retracement level from the all-time high in April to the July low. Since hitting a high of $50,500 on Monday, the world’s largest cryptocurrency has now dropped on consecutive days to trade at its lowest level since 20th August.

Technical View

If Bitcoin continues to move lower, the next key level of support is the 50% Fib level from the April high to July low around $46,800. Below that and the next support level is the 200-day moving average which comes in near $46,000. A move below there and $42,500 looks like major support, having acted as previous resistance on the move higher and as it represents the 38.2% Fib level from the April high to July low.

For Bitcoin to resume its uptrend, $50,000 will need to be the first major resistance level to overcome before $51,000. A move above that level could then open the door to Bitcoin retesting its all-time high from April near $65,000.

Other cryptocurrencies also decline

Other major cryptocurrencies have also come under selling pressure on Wednesday. Cardano, which is now the world’s third largest cryptocurrency, has fallen over 5% in the last 24 hours as the recent rally takes a breather. The cryptocurrency has risen around 180% in the last month ahead of the Alonzo Purple upgrade on September 12th. The upgrade will bring smart contracts and allow decentralised finance applications on the Cardano network.

Ethereum has shown similar price action, having fallen around 5% in the last 24 hour period. This comes despite the non-fungible token (NFT) market taking off in recent days, amid increased corporate interest. Payments company Visa (NYSE:V) confirmed on Monday it had paid $150,000 for an NFT named CryptoPunk 7610.

Budweiser has also entered the NFT sphere, changing the display picture on its Twitter profile to a rocket ship created by NFT “artist” Tom Sachs. The beer brand, owned by Anheuser Busch Inbev (NYSE:BUD), reportedly paid eight Ether for the picture and also bought the Beer.eth domain name for 30 Ether, or approximately $100,000.


Tips to Choose the Right Second Citizenship Program
Tips to Choose the Right Second Citizenship Program
Bitcoin set for a deeper correction
Bitcoin set for a deeper correction
Bitcoin falls under pressure
Bitcoin falls under pressure
Bitcoin sticks to bull trend on banks' woes
Bitcoin sticks to bull trend on banks' woes
Save 20% on your ECN fees: New offer from AMarkets
Save 20% on your ECN fees: New offer from AMarkets
What BlackRock is doing and why
What BlackRock is doing and why
Crypto seeks support
Crypto seeks support
Bitcoin price holding $27K could open buying opportunities in BNB, ADA, XMR and TON
Bitcoin price holding $27K could open buying opportunities in BNB, ADA, XMR and TON
The BTC has dropped to 29931 USD
The BTC has dropped to 29931 USD

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 91.6% 12 $27 080.57 0.50% 1.41% $525 120 984 052 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 94% 5 $1 893.90 1.22% 3.85% $227 727 252 078 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.000298 0.02% 0% $83 274 522 418 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 91.6% 2 $306.98 0.53% 0.34% $47 844 502 244 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000012 0% 0% $28 940 996 302 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 80.4% 40 $0.518733 2.48% 12.36% $26 965 484 878 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 94% 7 $0.375804 2.71% 4.65% $13 110 576 749 ADA 7 days price change
8 Lido stETH (STETH) STETH Lido stETH predictions 90.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 85.6% 14 $0.072136 0.28% 2.18% $10 070 286 642 DOGE 7 days price change
10 Solana (SOL) SOL Solana predictions 82% 27 $21.12 2.00% 9.24% $8 375 768 500 SOL 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 81.6% 31 $0.897462 0.39% -0.66% $8 327 966 768 MATIC 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 80.8% 34 $0.076148 1.38% -0.10% $7 742 460 822 WTRX 7 days price change
13 TRON (TRX) TRX TRON predictions 78.4% 33 $0.076534 1.77% 0.53% $6 903 793 375 TRX 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 81.6% 38 $94.27 -0.39% 8.09% $6 887 309 688 LTC 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 90% 8 $5.23 -0.18% 0.15% $6 226 557 990 DOT 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2023

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.