Bitcoin price shows a steep sell-off over the last 24 hours that has undone the gains seen between September 21 and 24. This correction has caused Ethereum, Ripple and other altcoins to crumble as well.
Litecoin price action over the last few weeks paints a bearish picture, as discussed in our previous article. Since then, LTC has triggered a breakout and is likely to continue heading lower.
Ethereum price is trading marginally above $1,300 after its bullish shoots were slashed at $1,400 on Tuesday. The presence of immense buyer congestion at $1,255 cut short the pullback that may very well have tagged $1,200. However, recovery to $2,000 could remain a pipe dream in the near term due to dwindling buyer interest.
