During Thursday’s U.S. trading session, Bitcoin’s (BTC) attempt to jump in prices failed again, and the price went down to $59,000 after climbing above $61,000 earlier.
BTC was still holding on to some gains over the past 24 hours, up 0.6%, in line with the broad-market CoinDesk 20 Index. In addition to that, Ether (ETH) was also down by 0.5%, barely holding above the $2,500 price level.
Apart from that, Ethereum prices also faced resistance at $2,619, which was the broken ascending trendline, created by connecting multiple low levels.
Many artificial intelligence tokens also led to losses. Their prices were dragged lower after chip-making giant Nvidia (NVDA) reported quarterly results Wednesday evening and showed a 6.4% slide.
Following that, the Native tokens of Render (RNDR), Artificial Superintelligence Alliance (FET), and Bittensor (TAO) went lower by 7%-10% for the day.
The tech-heavy Nasdaq also led the U.S. stock to give up on their early-day gains, as their prices fell 0.3% 40 minutes before the closing call, though they had risen by more than 1.5% earlier in the day.
A crypto analyst pointed out that bulls would have needed to push prices above $61,000, above the substantial short-term moving average in 4-hours, to have a chance to go above the upper half of the range.
These price patterns indicate that the crypto markets are going to have more consolidation ahead, as the quick recovery from early August when the prices collapsed below $50,000 has withered away.
Moreover, the largest cryptocurrency has been stuck on a downtrend since it reached a record of $73,000 in March, marking lower highs and lower lows since then.
