Bitcoin price hits $41K, then rejects after sellers defend the 200-MA

The general sentiment of the cryptocurrency ecosystem is subdued on June 15 as most altcoins trade unchanged while Bitcoin (BTC) Cops look for a daily close over $ 41,000 as a sign that the market may shift in favor of the bulls.

Data from Cointelegraph Markets Pro and TradingView shows Bitcoin price rose to $ 41,330 in the past few hours, but the breakout was quickly hit by selling at overhead resistance levels.

BTC / USDT 4-hour chart. Source: TradingView

Another gauge of investor sentiment, as highlighted by Rekt Capital, is the 200 exponential moving average (EMA), which Bitcoin tried to outperform on Tuesday but was firmly rejected.

Bitcoin’s rejection at the 200 EMA was followed by a quick sell-off to USD 39,500, showing that a possible downward move cannot be ruled out.

A few altcoins accumulate on positive news

Daily performance of the cryptocurrency market. Source: Coin360

While most of the altcoin market saw subdued price movement on June 15, Shiba Inu (SHIB) rebounded 33% after it was announced that trading the token would be supported on Coinbase Pro on June 17.

Following the announcement, Chiliz (CHZ) and KEEP also gained 18% and 10% respectively.

Icon (ICX) also received a boost after publication of a new Ethereum (ETH) Virtual machine (EVM) compatible blockchain called ICE. ICE is expected to become the application hub for the Icon project and to have its own native token.

VORTECS ™ data from Cointelegraph Markets Pro began to see a bullish outlook for ICX on June 13 ahead of the recent price hike.

The VORTECS ™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points such as market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS ™ Score (green) vs. ICX price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS ™ Score began to turn green on June 12th and finally hit a high of 75 on June 13th, 10 hours before the price rose 35% over the next two days.

Other notable altcoin accomplishments include a 22% jump from Amp (AMP) and a 20% gain for iExecRLC (RLC) and Ultra (UOS).

The total market cap of the cryptocurrency is now $ 1.685 trillion and the dominance of Bitcoin is 44.6%.

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