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<p>The post <a href="https://coinpedia.org/price-analysis/crypto-market-crash-how-low-can-bitcoin-and-altcoins-drop/">Crypto Market Crash: How Low Can Bitcoin and Altcoins Drop?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>With a 1% drop last night, Bitcoin price struggles to hold above the $66,000 level and the bearish influence over the altcoins increases. Amidst the increasing supply pressure, the crypto market crash intensifies putting additional pressure on the support zones.</p> 
<p>Currently, the total market cap of the crypto world excluding Bitcoin taken a dip close to $1 Trillion. This indicates a downfall of almost 10% within 10 days and hints at a continuation of the broader market’s failure to reverse the sentiments.&nbsp;</p> 
<p>Further, with more than $800 million in long liquidations over the last five days, the crypto market is gaining momentum on a downhill. Will the crypto market witness a bullish trend revival this month or will the crash continue for Bitcoin and altcoins?&nbsp;</p> 
<p>Check out our analysis of the Crypto Market Crash to determine how low can Bitcoin and altcoins drop.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-bitcoin-biggest-crypto-eyes-58-165-if-supply-persists">Bitcoin, Biggest Crypto Eyes $58,165 If Supply Persists</h2> 
<p>Breaking below the support trendline, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">BTC price</a> struggles near the $66,000 level at the 23.60% Fibonacci level. With this reversal, the bullish breakout chances of an inverted head and shoulder pattern turn to zero.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcADGepQLhA1w_LjBGt2mXcsQL-KFUQ-13chGj3AbsmDADfCKLZXmyrMC-KWXPWkFR-14pV41LbZRrtaJKMzkBGwwR4PPA1wyNZGnOulkz89ZgEZWyaQ1sZ18T-0yse38QLJ338XrkG8MWyrXJGSFuLi1jm?key=oB0GqDHR21jMnEDkL21AZA" alt="">
</figure> 
<p><a href="https://www.tradingview.com/x/yZz8ysTC/">Tradingview</a></p> 
<p>As per the trend-based Fibonacci levels, the downfall under the $66,000 level could result in an intense correction phase. In such a case, the bearish trend could extend to the psychological mark of $60,000.&nbsp;</p> 
<p>However, the lower price rejection in the Bitcoin price teases a potential bullish comeback this week. If the buying pressure resurfaces to overcome the bearish influence, then the crypto could reach $71,392.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-ethereum-double-top-warns-downfall">Ethereum Double Top Warns Downfall</h2> 
<p>With the broader market turning red as Bitcoin steps down to the $66,000 mark, Ethereum market price takes a bearish turn. However, with a morning star pattern and intraday rise of 1.60%, the <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">ETH price</a> may soon surge beyond $3,600.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdHEo1QBviUY7oEyi1psbb1HT2zfYOIzbF5mBHgL1N8jzeCfPfoi71U0viaVNJ08ebXiQq4fx_fBX7fxJT3stWQtrWtF3phn6EU1zsDIpQcZMZPuPkswmdM2Y8f4QyhYsrJQCrUW92txcQvf3iZLNBfOc8?key=oB0GqDHR21jMnEDkL21AZA" alt="">
</figure> 
<p><a href="https://www.tradingview.com/x/oaRZ3WgZ/">Tradingview</a></p> 
<p>Moreover, with a bullish crossover in the MACD and signal line the upside chances for the Ether is increasing. In the weekly chart, the bullish trend lacks momentum to surpass the $3,842 barries, leading to a double top pattern.&nbsp;</p> 
<p>With a neckline at $2,807, the downside potential in the crypto is substantial is the broader market recovery fails.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-failed-reversal-in-binance-warns-600-breakdown">Failed Reversal in Binance Warns $600 Breakdown</h2> 
<p>With a new all-time high formation at $724, the <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/" target="_blank" rel="noreferrer noopener">BNB price</a> trend shows a rounding bottom pattern in the weekly chart. The bullish pattern forms a neckline $662 but fails to get a weekly closing above it.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfE-lW6ZQnSqSKe2_0ur9hqKaSZsTd_wHpan5Rx_Lfscn09FwqFfKiAxm8doLEQR-lBLqTbtnbuODG06VrTkklSyKQgaxfqFDqNMZ1rdCj9cpmBqrmYlwsKkW6RcZLF1f9CBrbVeY1nAK9Rc8DqBYE2k1ji?key=oB0GqDHR21jMnEDkL21AZA" alt="">
</figure> 
<p>Amidst the broader market correction, the BNB price fails to surpass the neckline with a weekly drop of 9.69%. This undermines the bullish engulfing candle of 11.65% a week prior.&nbsp;</p> 
<p>Currently, the downfall takes support at the $600 psychological mark and teases a reversal for a breakout. However, a downtrend in the crypto under $600 will put the $564 level at risk.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-solana-under-150-soon-to-test-125">Solana Under $150 Soon To Test $125</h2> 
<p>With a bearish reversal from the $190 mark, the higher price rejection leads to a drop under the $150 psychological mark. The 10% drop this week forms a bearish engulfing candle, a continuation of the long-wick candles over the past few weeks.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdU7bn3EIHKPohqHdVyoDMcrmEt3Inrw0E8MpFt4AENbJWHN7-LUUtWOj7vRsJuq6C8VTC58CIskp63qREMqEQlFKO4cE-LIeodeH4zByS9PDCjmZDVG18kLxm2-9Vl_qBHUGfiI8jsTgSOkaVCmgZuWIma?key=oB0GqDHR21jMnEDkL21AZA" alt="">
</figure> 
<p>The bearish crossover in the MACD and signal lines with the downfall in the Solana’s market price teases a bearish continuation. Further, as per the Fibonacci level, the downfall approaches the 50% Fibonacci level.&nbsp;</p> 
<p>However, the crypto price action teases a double bottom reversal at the crucial support level for a price jump back to $200.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-will-the-crypto-market-bounce-back">Will The Crypto Market Bounce Back?</h2> 
<p>As the broader market correction persists, the buyers stand strong at crucial support level preparing for a bullish reversal. Hence, the double edged position of the crypto market might end on an optimistic note with a recovery in June end.</p> 
<p>Also Read : <a href="https://coinpedia.org/price-analysis/toncoin-ton-faces-a-hurdle-while-lido-dao-dao-rebounds-from-critical-levels-will-they-follow-the-not-price-rally/">Toncoin (TON) Faces a Hurdle, While Lido DAO (DAO) Rebounds From Critical Levels: Will They Follow the NOT Price Rally?</a></p>

Crypto Market Crash: How Low Can Bitcoin and Altcoins Drop?

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