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  • Market is losing positive momentum as resistance levels proved to be too strong.
  • Total crypto market capitalization down $8B.

Cryptocurrency market calmed down as all major coins are consolidating in ranges above critical support levels regained earlier this week.  The recovery momentum is losing traction on approach to local resistance levels. The total value of all  cryptocurrencies reduced by $8B in recent 24 hours, to $322B.

Bitcoin, the worlds biggest digital currency,  is changing hands at $7,342, staying above the psychologically important $7,000 level. BTC/USD is mostly unchanged since the start of the day, however, the price lost over 2% since this time yesterday, taking Bitcoin’s market value to $125.8B.  

Ethereum is trading at $559, marginally higher on the day. However, on a day-to-day level, the second largest coin lost over 3% of its market value – currently $55.8B. ETH/USD is stuck between critical support at $500.00 and strong resistance at $600.00.  

Ripple slid to $0.5912 after an unsuccessful attempt to climb above $0.6000 handle.  XRP/USD is unchanged since the start of the day and down 3.8% in recent 24 hours despite the news that India’s exchange added the coin to the listing.  

XRP/USD, the hourly chart