STABLE plummets 18% – Fakeout above $0.04 traps bulls
The post STABLE plummets 18% – Fakeout above $0.04 traps bulls appeared on BitcoinEthereumNews.com. In the past 24 hours, the crypto market witnessed $650.35 million in liquidations. Of these, $622.85 million were long liquidations. These forced long closures added to the downward pressure. Bitcoin [BTC] saw $205 million in liquidations after losing 3.14% in 24 hours. The move came as a slight surprise after BTC bounced from the $78.9k support level on Wednesday, the 13th of May. It could only reach as high as $82k before sliding lower. Stable bulls unable to reclaim range highs The recent Bitcoin selling has impacted altcoin market confidence and resulted in market-wide losses. Stable [STABLE] was down 18.7% in the past 24 hours. Earlier in the week, it had looked as if it had breached a range formation it had been trading within since February. Source: STABLE/USD on TradingView In the final week of April, AMBCrypto had reported that STABLE was trading within a range formation that re