The cryptocurrency market update: Bitcoin settles above $9,300

Bitcoin (BTC) has settled above $9,300 amid decreasing volatility.
Altcoins are mostly range-bound during early Asian hours.

Tanya Abrosimova Independent Analyst

The cryptocurrency market is a mixed picture on Wednesday as Bitcoin and all major altcoins are oscillating in narrow ranges during early Asian hours. The total cryptocurrency market capitalization settled at $251 billion; an average daily trading volume is registered at $89 billion; Bitcoin's market share has reached 66.8%.

Top-3 coins price overview

BTC/USD hit at $9,580 high on November 4 and has been retreating ever since. At the time of writing, the first digital coin is changing hands at $9,322, down 1.0% on a day-to-day basis and unchanged since the beginning of the day. SMA100 (Simple Moving Average) daily located on the approach to $9,600 caps the recovery. Once it is out of the way, the upside is likely to gain traction with the next focus on $10,000.

Ethereum, the second-largest digital asset with the current market capitalization of $20.6 billion, has gained 1.9% on a day-to-day basis. At the time of writing, ETH/USD is changing hands at $190.35, off the recent high of $191.08 touched during early Asian hours. Looking technically, ETH/USD is well-positioned to retain bullish bias in the long run.

Ripple’s XRP is hovering around $0.3000. The third digital coin with the current market value of $12.9 has barely changed in recent 24 hours as thee coin reached a strong resistance area. At the time of writing, XRP/USD is trading at $0.3005.

Author

Tanya Abrosimova

Independent Analyst