Demand

Many altcoins are being rejected from recent highs. Demand is drying up at higher price levels. Bulls are not buying the dips either.

The price of Bitcoin (BTC) has dropped and fallen above the moving averages. In other words, it has fallen above the psychological price level of $40,000.

Today, March 11, 2022, Ripple (XRP) has fallen to a low of $0.73 at the time of writing. On the daily chart, XRP price is between the moving averages.

Bitcoin (BTC) price has rallied above the $38,000 support after the price rose above the moving averages.

Cardano (ADA) is moving positively after breaking through resistance at $1.15. The bullish momentum broke the 21-day moving average line, but was stopped at the $1.25 high.

Although the Russian government has a rather ambivalent attitude towards the cryptocurrency industry in general, citizens seem to be attracted by the benefits it offers. As a result, demand for mining equipment continues to skyrocket.

The price of Ripple (XRP) has come under renewed selling pressure after falling below $0.73 support. Today, the cryptocurrency has fallen to a low of $0.68 by the time of writing.

Binance Coin (BNB) price comes under selling pressure again after losing $500 support. The cryptocurrency has fallen to the previous low of $462. This was the low of the price drop on December 4.

The price of Bitcoin (BTC) is trending positively and breaking out above the psychological $50,000 price level. The cryptocurrency has reached an overbought region of the market.