Digital currencies are moving today in a bearish red range that includes Bitcoin and most of the alternative currencies, with news of regulatory and financial difficulties facing the crypto community, especially in the United States of America, where two banks that embraced the reserves and cash of digital currency exchanges, Silvergate and Signature Bank, went bankrupt.

The digital currency market now

Bitcoin lost the $28,000 level and is now trading at $27,906, down by 0.65%, while the most prominent digital currency fell on a weekly basis by 2.25%. On the other hand, Ethereum fell by 1.95%, to record $1,836.66 for the symbol, while it is still reaping the benefits of the news of the new upgrade. Chabela, where it achieved a weekly rise, has now shrunk to only 1.77%.

Dogecoin, the most prominent gainer at the beginning of the week, fell as a result of Elon Musk changing the Twitter logo to the Dogecoin logo, as it rose by about 30% before days passed and Elon Musk announced that he was pulling the rug from under the Dogecoin’s feet and returning the old distinctive Twitter sign, so that the dog currency fell with great force, and recorded Now the Doge Coin is 0.082, after jumping higher than the cent with the news of Elon Musk, but the Doge Coin, despite the decline, still maintains 8% of its weekly profits.

Binance Coin fell by 0.67% to $309.99, while RBI fell by 1.56% to $0.50241, as well as Cardano, Polygon, and Solana by 0.70%, 1.80%, and 2.86%, respectively.

The biggest rise among the 50 largest digital currencies by market value came when BitDAO, which rose by 12.86%, to record $0.6156 per symbol.

A technical look at Bitcoin

Since last March 23, the price of Bitcoin has ranged between 27,600 and 28,700 thousand in a sideways movement that continues to fluctuate. According to beIN Crypto, these sideways movements can be good opportunities to catch flash trades when the price reaches support or resistance levels. But it must be handled with extreme caution.

In case the price breaks the support level 27676, the next target will be 26769 dollars, then the support level 25158 dollars.

On the upside, breaching the $28,751 resistance will open the door to a rise towards $30,000, then $32,390.