Published 1 hour ago
Crypto price today Mar 3rd: On early Friday, the crypto market experienced a sudden sell-off that appears to be linked to the 57% decline in the stock price of a crypto-focused bank Silvergate. As a result, the crypto market leaders Bitcoin and Ethereum experienced a 4% intraday while other altcoins showed a similar downturn.
As of 6:11 am on Tuesday, the global cryptocurrency market capitalization is at $1.03 trillion, projecting a 3.5% drop since yesterday. Moreover, the market has seen a surge in trading activity, with a 24-hour trading volume of $55.36 billion, indicating an increase of 24.2%.
Gainers
ssv.network(SSV)
Source- Tradingview
Despite a significant downfall in the crypto market, the SSV token is one of the few coins which are trading in green. Today, the token price is 8% up and shows a bullish breakout from a resistance trendline of a falling wedge pattern.
This breakout should offer buyers a strong footing to lead a price recovery of 14.5% higher to hit the $50.3 mark.
Eos(EOS)
Source- Tradingview
The EOS price in the daily time frame chart showed the formation of a V-shaped recovery from the $1.11 support. The recovery rally surged the prices by 14.64%, which challenged the last swing high resistance of $1.28.
Under the influence of the rounding bottom pattern, the EOS price is set for a gradual uptrend, which increases the breakout probability from the $1.28 barrier. Today, the coin price traders are at the $1.276 mark with an intraday gain of 2.74%.
Losers
Tera Classic(LUNC)
Source- Tradingview
For nearly two months, the LUNC price was well supported by the $0.00016 support zone. However, with a sudden sell-off in the crypto market, the LUNC coin witnessed significant outflow and breached the aforementioned support.
By the press time, this altcoin trades at the $0.00015 mark with an intraday loss of 10.5%. Though the long tail attached to the daily candle indicates, the buyers are accumulating at lower levels. However, a candle closing below $0.00016 will encourage a prolonged downfall.
Conflux(CFX)
Source- Tradingview
In the daily time frame chart, the Conflux coin price showed the formation of an evening star candle at $0.256-0.247 resistance. This bearish reversal candle pattern increases the likelihood of the CFX price to further extending its ongoing correction.
Currently, the coin price trades at $0.194, with an intraday loss of 14.6. Furthermore, if the sellers breached the combined support 0.5 Fibonacci retracement level and $0.193, the prices may tumble 20% to hit the $0.153 mark.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
