Cryptocurrencies mildly up, Bitcoin underperforms

Cryptocurrencies are moving mildly up, although there is a sense of choppiness and lack of buying power. The price of Bitcoin(-0.18%) is drifting, moving near the $8,600 level, whereas Bitcoin SV ( +10.9%) is trying to hold the $300 level. Besides BSV, ADA( +5.4%), and DASH(+9.96%) are the best performers of the last 24 hours.

The Ehereum token sector shows a mix of performance. Among mild retracements, HEDG(+21.65%)  is the best performer. Also moving strongly are SNX(+5%), REP(+7%), DGD(+16.3%), and FST(+15.24%).

Fig 1 - 24H Crypto Heat Map

The market capitalization of the sector is currently $238 billion (-0.48%), and the volume traded in the last 24 hours descended to $33.14 billion. Also, Bitcoin dominance dropped below 66%, to 65.95%.

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Technical Analysis - Bitcoin

Chart 1 - Bitcoin 4H Chart

Bitcoin continues moving in a very tight range, between its $8,560 support and the $8,760 resistance. The MACD seems to indicate a bullish transition, with the price struggling to hold within the ascending channel. Bulls must wait for a break above the $8760 level, and bears should watch a breakdown of its immediate support of %8,560.  The current trading levels are quite low, so a jump in liquidity will provide clues of which side is stronger.

Ripple

Chart 2 _ Ripple 4H Chart

Ripple is still moving inside its ascending channel. The MACD made a bullish transition, and the price is moving near the mid-Bollinger line, trying to reach the upper Bollinger channel. We keep our bullish bias, based on this evidence, and also that its 50-period SMA is pointing up and acting as a trendline.

Ethereum

Chart 3 - Ethereum 4H Chart

Ethereum is moving timidly up, but in the lower Bollinger channel. ETH's price bounced off of the 162 key level and now is facing the $167.5 resistance. We can see also that the 50-period SMA is still holding the price and heads up, and also, that the MACD is close to making a bullish crossover. Therefore, we still think Ether is in an uptrend.

Litecoin

Chart 4 - Litecoin 4H Chart

Litecoin has crossed the lower trendline of the ascending channel, but still is managing to hold above the 50-period SMA, which, also still moves upwards. On the chart, we can see also that the MACD is trying to make a bullish crossover. The price needs to convincingly cross the $58 level for bulls to move in. The key support to watch is $55.

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