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Crypto price today Mar 3rd: On early Friday, the crypto market experienced a sudden sell-off that appears to be linked to the 57% decline in the stock price of a crypto-focused bank Silvergate. As a result, the crypto market leaders Bitcoin and Ethereum experienced a 4% intraday while other altcoins showed a similar downturn.
As of 6:11 am on Tuesday, the global cryptocurrency market capitalization is at $1.03 trillion, projecting a 3.5% drop since yesterday. Moreover, the market has seen a surge in trading activity, with a 24-hour trading volume of $55.36 billion, indicating an increase of 24.2%.
Gainers
ssv.network(SSV)
Source- Tradingview
Despite a significant downfall in the crypto market, the SSV token is one of the few coins which are trading in green. Today, the token price is 8% up and shows a bullish breakout from a resistance trendline of a falling wedge pattern.
This breakout should offer buyers a strong footing to lead a price recovery of 14.5% higher to hit the $50.3 mark.
Eos(EOS)
Source- Tradingview
The EOS price in the daily time frame chart showed the formation of a V-shaped recovery from the $1.11 support. The recovery rally surged the prices by 14.64%, which challenged the last swing high resistance of $1.28.
Under the influence of the rounding bottom pattern, the EOS price is set for a gradual uptrend, which increases the breakout probability from the $1.28 barrier. Today, the coin price traders are at the $1.276 mark with an intraday gain of 2.74%.
Losers
Tera Classic(LUNC)
Source- Tradingview
For nearly two months, the LUNC price was well supported by the $0.00016 support zone. However, with a sudden sell-off in the crypto market, the LUNC coin witnessed significant outflow and breached the aforementioned support.
By the press time, this altcoin trades at the $0.00015 mark with an intraday loss of 10.5%. Though the long tail attached to the daily candle indicates, the buyers are accumulating at lower levels. However, a candle closing below $0.00016 will encourage a prolonged downfall.
Conflux(CFX)
Source- Tradingview
In the daily time frame chart, the Conflux coin price showed the formation of an evening star candle at $0.256-0.247 resistance. This bearish reversal candle pattern increases the likelihood of the CFX price to further extending its ongoing correction.
Currently, the coin price trades at $0.194, with an intraday loss of 14.6. Furthermore, if the sellers breached the combined support 0.5 Fibonacci retracement level and $0.193, the prices may tumble 20% to hit the $0.153 mark.
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