Tanya Abrosimova
Independent Analyst
- Bitcoin (BTC) has settled below $8,700 amid increased bearish pressure.
- Altcoins are mostly range-bound during early Asian hours.
Bitcoin and all major altcoins have recovered from the recent losses; however, the majority of coins are still in the red zone on a day-to-day basis. The total cryptocurrency market capitalization dipped to $240 billion from $245 the day before; the worth of the digital asset of $68 billion change hands daily on average. Bitcoin's market share dropped to 66.1%.
Read also: ABey co-creator keynote speech at the Malta Blockchain Summit 2019
Top-3 coins price overview
BTC/USD has lost over 1.56% in recent 24 hours and stayed unchanged since the beginning of Tuesday. On the intraday charts, the coin is locked in a tight range limited by SMA50 (Simple Moving Average) 1-hour at $8,835 on the upside and $8,650 on the downside. a sustainable move in either direction is needed to clarify the trend.
BTC/USD, 1-hour chart
Ethereum, the second-largest digital asset with the current market capitalization of $20.5 billion, is changing hands at $186.10, down about 1 % since this time on Monday. Looking technically, ETH/USD has recovered from the recent low of $183.96 and may extend the upside towards $186.70 (SMA200 1-hour chart) and $187.00.
ETH/USD, 1-hour chart
Ripple’s XRP moved below $0.2700 handle on Monday, but managed to recover to $0.2734 by the time of writing. The third digital coin with the current market value of $12.1 is moving within a tight range. The recovery is initially capped by the middle line of a one-hour Bollinger Band.
XRP/USD, 1-hour chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Lukas Enzersdorfer-Konrad, Bitpanda deputy CEO: “Crypto needs Gary Gensler gone”
Lukas Enzersdorfer-Konrad is the deputy CEO at Bitpanda, a broker based in Europe with more than five million users. At the European Blockchain Convention held in Barcelona, the executive shared with FXStreet his views on the current state of the crypto industry and its regulation.
Bitcoin still consolidates despite positive spot ETFs demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
Why is ONDO’s price outlook bullish?
DefiLlama data shows that Ondo TVL reached a new ATH of $613.75 million. Ondo’s Supply Distribution metric shows whale accumulation. On-chain data shows that ONDO’s daily trading volume is rising, and the supply of exchanges is decreasing.
Maker price eyes a rally on technicals and on-chain metrics
Maker trades above $1,500 on Thursday, suggesting a potential rally as technical indicators show bullish divergence. This positive outlook is reinforced by MKR’s Exchange Flow Balance, which shows a negative spike, indicating growing investor confidence in the platform.
Bitcoin: Fed-led rally could have legs towards $65,000
Bitcoin is poised for a second consecutive week of gains, supported by the recent 50-basis-point cut in interest rates by the Federal Reserve. Bitcoin broke above several key technical resistances this week, signaling a rally continuation.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.