Cryptocurrencies Are Getting Hammered Lower On Tuesday

The cryptocurrency market is moving even lower as we head into the U.S. trading session, with many of the top ten crypto’s close to suffering double-digit declines. At current levels digital currencies look set for the worst weekly drubbing since mid-may.

Some cryptocurrencies outside the top twenty crypto’s by market capitalization are down over twenty per cent today, as the domino effect from the recent Bitcoin ETC delay appears to have spread through the entire market.

Moving into the U.S. session, Ethereum and Cardano appear dangerously close to losing twenty per cent of their trading value on an intraday basis, while Ripple and Litecoin appear close to fifteen per cent intraday losses.

Early week bargain hunters may face steep losses if they decide to enter at current levels, as a number of cryptos have broken beneath impressively large head and shoulders patterns or appear close to doing so.

It would seem cryptocurrencies could indeed trade at depressed levels until the SEC gives its delayed verdict on a potential Bitcoin ETF during the month of September.

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 Cardano set for twenty percent intraday loss

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