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  • Crypto market is rangebound during early Asian hours.
  • Experts point out the sellers fatigue, buyers are on the way.

All major coins are trading marginally higher on Monday, but low trading volume and non-existant volatility implies that we are in for a rangebound trading at least until the European and American crypto traders join the game.

Bitcoin is hovering above $6,600 handle mostly unchanged both day-on-day and since the beginning of Monday. Ethereum, the second largest coin by market value is changing hands at $233, having recovered from Sunday’s low at $225. Ripple’s XRP is still the best-performing altcoin out of top-10 with 3.5% gains since this time on Sunday. XRP/USD jumped to $0.6227 on Sunday, but the movement proved to be unsustainable as the price retraced to $0.5920 by press time. Stellar (XML) and IOTA showed nearly 2% growth on a daily basis, while the rest coins in top10 stayed mostly unchanged.

What’s going on

While the coins are snoozing in tight ranges, crypto experts and analysts brace for a strong recovery, pointing out market’s  seasonality and a number of technical factors that signal about the upcoming rally.

“September is coming to an end and a very interesting quarter is about to start. Does it remind you of anything? Oh yes, it reminds me of last year’s bull rally. It appears to me that a similar momentum could be building up again. This must be music to those who are suffering from heavy losses in the crypto market,” Naeem Aslam from   Think Markets U.K wrote.

Meanwhile, Mike Novogratz and Tom Lee – both are famous crypto enthusiasts – have pointed out that the sellers are exhausted. This theory is confirmed by the fact that Bitcoin price stayed above $6,000 handle during the recent sell-off and created a series of higher lows.