Jakarta, Pintu News – The overall crypto market capitalization and Bitcoin saw small declines in the last 24 hours (15/9). As the weekend volatility subsides, the market has a better chance of recovering.
Among altcoins, according to the BeInCrypto page, Four has been the most affected, with a decrease of 13% in 24 hours.
The overall crypto market capitalization fell by $13 billion in the last 24 hours, now standing at $4.00 trillion. TOTAL remains stuck below the $4.01 trillion resistance level, reflecting investor caution as the market seeks stability before the next big move.
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Despite the decline, general market sentiment continued to show resilience. Analysts think that the decline is more due to weekend volatility, rather than structural weakness in the market. If conditions improve, TOTAL could potentially break $4.01 trillion and turn it into a new support level.
However, downside risks still exist if the market fails to cross this resistance level. In this scenario, TOTAL could retreat to around $3.94 trillion, which would mean erasing some of the recent gains. Such a correction could depress investor sentiment and slow down the market recovery process.
Bitcoin price managed to hold the important support level of $115,000, showing resilience despite increased volatility. Currently trading at $115,958, the crypto king reflects investor confidence as it remains stable above this crucial zone.
The next challenge for Bitcoin is to maintain the upward momentum to break the resistance level at $117,261. If it manages to cross this barrier, demand from both institutional and retail investors is expected to increase.
But on the other hand, doubts from investors could weaken Bitcoin’s rally. If selling pressure increases, BTC risks losing the $115,000 support level. A drop below this point could push the price towards $112,500, signaling weakness and opening the door to wider volatility in the market.
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FORM is currently trading at $2.30, making it one of the worst performing tokens in the crypto market. The altcoin is still under heavy selling pressure and could potentially continue to weaken if market conditions worsen.
Currently at its lowest level in almost three months, FORM is at risk of dropping to the $2.07 support level. In the event of a downward breakout, selling pressure could intensify as investors try to cut losses, which would add to the downward pressure.
Conversely, if FORM manages to reclaim the $2.34 level as stable support, bullish sentiment could reappear. This recovery could potentially push the price towards $2.60 in the next few days, invalidating the bearish outlook and recovering some of the market’s recent losses.
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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