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Crypto Enthusiasts Turn to Technicals for Guidance After Slump
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ndtv.comCryptocurrencies have sold off in recent days amid a regulatory risks concerns.
New Delhi: Amid another choppy day for most cryptocurrencies, digital token aficionados are turning to technical indicators for clues as to where Bitcoin and Ether may go next.
Bitcoin, mired in a rough spell that's seen it lose near 20% since its record high earlier this month, has been trading below its 50-day moving average, which many see as a bearish development. Ether, on the other hand, on Wednesday managed to bounce off of its own such trendline.
The second-largest token sees good round-number technical support at $4,000, according to Mike McGlone, a commodities analyst at Bloomberg Intelligence. “It seems to be a battle with the leveraged longs from
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