![](https://invezz.com/wp-content/uploads/2020/08/crypto-price-analysis-aug-15-btc-eth-xrp-link.jpg)
- Bitcoin price closed 2.44% in the red yesterday as the sellers continue to dominate the price action
- ETH price is trading in a similar fashion as the period of consolidation is now taking place
- TRON (TRX) price had a great day yesterday, when it gained almost 9%
Cryptocurrency market cap decreased by over 2% yesterday, nearing a break below the $300 billion mark. Bitcoin (BTC) price closed below the 100-DMA, which could pave the way for a deeper correction. Ethereum is trading in a similar fashion as the sellers assume control of the price action below $350.
BTC price closes below the 100-DMA
Bitcoin price closed 2.44% in the red yesterday as the sellers continue to dominate the price action. The period of consolidation is now taking place near the $10,000 handle, which may potentially result in the activated bear pennant.
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![](https://invezz.com/wp-content/uploads/2020/09/screen-shot-2020-09-09-at-12-32-17-pm-1024x576.png)
The 100-DMA, which was broken yesterday, will now act as intraday resistance for the buyers. Moreover, the horizontal resistance line around $10,6000 will add to this resistance, in case we see an attempt to break higher.
Looking lower, the obvious target for the sellers is the horizontal support near $9,500. Beforehand, a move below $9,700 activates the bear pennant that could eventually take the price action to $8,100.
ETH price falls below $350
Given that the Bitcoin dominates the overall cryptocurrency market, it’s no surprise that major altcoins are following BTC’s lead. Ethereum price is trading in a similar fashion as the period of consolidation is now taking place after a sharp selloff.
![](https://invezz.com/wp-content/uploads/2020/09/screen-shot-2020-09-09-at-12-38-35-pm-1024x576.png)
The sellers are yet to reach the 100-DMA in ETH/USD, which today comes at $307. This area is a major target for the sellers for this week, with a confluence of support levels located around the $300 mark. For investors looking to buy ETH on a dip, this level offers a great risk/reward ratio.
TRX looking good
Elsewhere, TRON (TRX) price had a great day yesterday, when it gained almost 9%. You can read more about why TRX price gained recently in a separate analysis here. Chainlink (LINK) has also performed well in the past few days, as well as Binance (BNB) coin.
![](https://invezz.com/wp-content/uploads/2020/09/screen-shot-2020-09-09-at-1-00-07-pm-1-1024x576.png)
Looking at some smaller altcoins, the biggest movers today are yearn.finance (YFI), up over 16% on the day. On the other hand, Hyperion is the worst-performed of the day by a large distance, trading over 30% lower.
Summary
The market capitalization of the cryptocurrency market fell nearly 2.5% yesterday after the major digital assets continued its pullback. Although the BTC price closed below the 100-DMA, it is yet to break important support near $10k, while Ethereum price looks primed to move to low $300s.