Resistance

Drops

Read

Cosmos

<ul class="wp-block-list news-points">
 <li>Bitcoin’s critical support at $56K could stabilize or signal further declines.</li>
 <li>Ethereum’s key support at $2,320 may attract buyers or indicate deeper correction.</li>
 <li>Cosmos (ATOM) shows heightened activity whereby $4.00 support could stabilize price.</li>
</ul>
The global cryptocurrency market has taken a sharp downturn, with its market capitalization falling 4.22% in the past 24 hours. Major cryptocurrencies like Bitcoin, Ethereum, Solana, and Cosmos (ATOM) are all seeing significant losses.
As per Coinmarketcap data at press time, <a href="https://coinedition.com/bitcoin-mining-power-soars-network-security-strengthened/?utm_source=telegram_channel&amp;utm_medium=referral" rel="noopener noreferrer nofollow">Bitcoin</a>, priced at <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">$56,437.34</a>, has seen a decline of 4.37% in just one day. The price trend indicates a sharp downturn from around $58,980 to its current level. Support levels for Bitcoin are critical.
<a href="https://coinedition.com/analyst-predicts-bitcoin-at-200k-ethereum-at-15k-in-2024-bull-run" rel="noopener noreferrer nofollow">Read also: Analyst Predicts Bitcoin at $200K, Ethereum at $15K in 2024 Bull Run</a>
The first key support is at $56,000. If the price holds above this, it could stabilize. However, should it break below $56,000, the next support level to watch is $55,000, where buying interest may emerge to stem further declines.
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="512" height="234" src="https://coinedition.com/wp-content/uploads/2024/09/unnamed-69.png" alt="" class="wp-image-492653" srcset="https://coinedition.com/wp-content/uploads/2024/09/unnamed-69.png 512w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-69-300x137.png 300w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-69-380x174.png 380w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-69-159x73.png 159w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-69-440x201.png 440w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-69-414x189.png 414w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-69-326x149.png 326w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-69-377x172.png 377w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-69-123x56.png 123w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-69-129x59.png 129w" sizes="(max-width: 512px) 100vw, 512px">
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 Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Coinmarketcap</a>
 </figcaption>
 </figure>
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Resistance levels are at $58,000 and $59,000. If Bitcoin can recover, $58,000 might act as a resistance poi…
The post <a href="https://coinedition.com/crypto-market-in-red-market-cap-drops-4-in-24-hours/" rel="noopener noreferrer nofollow">Crypto Market in Red: Market Cap Drops 4% in 24 Hours</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Crypto Market in Red: Market Cap Drops 4% in 24 Hours

Coin Edition

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