- All major coins are nursing losses on Friday.
- Market ignores positive fundamentals.
Cryptocurrency market slipped back in the red zone on Thursday and continued consolidating with bearish bias during early Asian hours on Friday. All major coins demonstrate moderate losses, while the total capitalization of digital assets dropped to $112,5B by the time of writing.
Bitcoin (BTC) has lost about 1.4% on a day to trade at $3,388 at the time of writing. The first digital coin is about to finish the week in red, moving within a clear downside trend.
Ripple’s XRP is down over 8% since this time on Thursday. The coin has entered a technical correction from overbought territory. XRP/USD is changing hands at $0.3026, off the recent high at $0.3390.
Ethereum (ETH) has lost over 3.8% of its value in recent 24 hours to trade at $105.00 at the time of writing. The coin failed to settle above $110.00 handle, which signals that more downside may be in store. On the weekly chart, Ethereum has dropped from $116 amid global sell-off on the cryptocurrency market.
TRON (TRX) is the biggest loser out of top-10 coins. TRX has lost 8.5% of its value and dropped below $0.02490 handle. The coin grew strongly ahead of BitTorrent’s BTT ICO. However, now the coin is ripe for a correction.
What’s gaining on on the market
The cryptocurrency community has been paying little attention to fundamental news. That’s why the report that the Central Bank of India authorized cryptocurrencies was left unnoticed so far. We shall wait for the details, but this news has good bullish potential.
Apart from that, Binance announced credit-card payment support to foster mass adoption for digital assets, while Ethereum launched difficulty bomb ahead of Constantinople update.
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