Home The cryptocurrency market calms down after major turbulence
Crypto News

The cryptocurrency market calms down after major turbulence

  • Bitcoin (BTC) has settled above $9,000 on Sunday
  • Altcoins are directionless, most of the coins are moving in tight ranges with a bearish bias.

The cryptocurrency market has been range-bound after a strong growth on Friday and Saturday. Bitcoin has stayed mostly unchanged both on a day-to-day basis and since the beginning of Sunday; the majority of altcoins are directionless except for NEO that has been growing strongly. At the time of writing, the total cryptocurrency market capitalization is $246 billion from $243 billion the day before; an average daily trading volume dropped to $99 billion from $145 this time on Saturday; Bitcoin’s market share stayed at 68.4%.

Top-3 coins  price overview  

BTC/USD has retreated from the intraday high of $9,658 to trade at $9,270 at the time of writing. The first digital asset has gained 1.1% on a day-to-day basis and stayed unchanged since the beginning of the day. The price is supported by $9,000. Once it is out if the way the sell-off may continue towards $8,800 (SMA50 (Simple Moving Average) on a daily chart). The upside momentum is capped by SMA100 daily at $9,650.
 
Ethereum, the second-largest digital asset with the current market capitalization of $19.5 billion, has stayed mostly unchanged in recent 24 hours.  At the time of writing, ETH/USD is changing hands at $179.80, off the intraday high of $185.04. Looking technically, ETH/USD needs to recover above $180.00 to regain the bullish bias. Otherwise, the selloff may continue towards $177.00 (an intraday low and a confluence of SMA100 (Simple Moving Average) and SMA200 on a four-hour chart).
   
Ripple’s XRP is hovering inside $0.2900-$0.3000 range, unchanged both on a day-to-day basis and since the beginning of Sunday. The third digital coin with the current market value failed to hold the ground above $0.3000, which makes it vulnerable to further losses.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.