Tanya Abrosimova
Independent Analyst
- Bitcoin (BTC) is trading marginally above $7,000 during early Asian hours.
- Altcoins retain range-bound bias amid low trading activity.
Cryptocurrency market recovery stalled. Bitcoin and all major altcoins are mostly range-bound during early Asian hours. The market is a mixture of red and green, as there are no clear price patterns at the moment. The total cryptocurrency market capitalization settled at $196 billion unchanged from this time on Tuesday; an average daily trading volume decreased to $66 billion. Bitcoin's market share settled at 66.2%.
Top-3 coins price overview
BTC/USD has settled above $7,000 to trade at $7,070 at the time of writing. The first digital asset has stayed in a tight range since Tuesday as the recovery stalled on approach to $7,350 resistance. Currently, the nearest support comes at psychological $7,000, reinforced by the upper line of 1-hour Bollinger Band. A sustainable move above this barrier will trigger further sell-off towards $6,800.
BTC/USD, 1-hour chart
Ethereum is hovering above $145.00, off the intraday high registered at $148.90. The second-largest digital asset with the current market capitalization of $16 billion, has lost over 1.3% since the beginning of the day and stayed unchanged in recent 24 hours. ETH/USD is supported by $144.00 with the lower line of 1-hour Bollinger Band located below this handle. An initial resistance is created by the daily high and upper line of 1-hour Bollinger Band on approach to $149.00
ETH/USD, 1-hour chart
Ripple's XRP topped at $0.2242 on Tuesday and retreated to $0.2180 by press time. SMA100 (Simple Moving Average) 1-hour limited XRP's recovery and pushed in back within the short-term downside trend. While the coin has gained nearly 1% on a day-to-day basis, it is still down as compared to the levels registered at the beginning of the day.
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
Polygon joins forces with WSPN to expand stablecoin adoption
WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.
Coinbase envisages listing of more meme coins amid regulatory optimism
Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B
As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: Rally expected to continue as BTC nears $100K
Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.