|Day's range||0.783 - 0.83|
|52-week range||0.029 - 3.290|
|Volume (24 hrs)||89.84M|
|Volume (24 hrs) all currencies||603.51M|
It’s a mixed start to the day for the cryptomarket, but following a stellar rally for Bitcoin Cash, Litecoin and Ripple’s XRP, the bulls continue to have control, with the market having been free of negative news for a while now.
The majors are on the move, with this the cryptocurrency front runners resuming the near-term bullish trend formed back on 6th April. Solid gains today and investors may be able to attribute recent weakness to taxes, which could see the market less sensitive to regs in the coming weeks.
Cryptocurrencies remain a speculative market. While digital assets climbed in value late last week, correlations while sounded remain difficult to prove. Speculative forces remain the key for traders in the short term.
Bitcoin got hit with another reversal this morning, with $7,000 levels lost yet again as the market continues to pull out at key resistance levels, leaving Bitcoin’s extended bearish trend intact in spite of recent gains.
Digital assets have continued to face headwinds early this morning as Bitcoin and other major cryptos including Ripple and Ethereum languish.
Bitcoin is on the slide again and the market sell-off resumes, investors unwilling to support a more sustained rally ahead of the roll out of global regulations this summer.
It’s a sea of red again through the early part of the day as the bearish trend continues to rain down on the cryptomarkets, with many an investor likely to be hoping for some respite through the weekend.
There is a “seismic shift” taking place in the cryptocurrency sector, affirms Nigel Green, the CEO of deVere Group, a leading financial services organization.
The price of ether, the cryptocurrency of the ethereum network, fell below $400 on Thursday for the first time since November.
The price of the XRP cryptocurrency, overseen by startup Ripple, has jumped 16 percent on speculation a major U.S. exchange could add support.
Bitcoin struggles to move up the ranges, with $12,000 levels still seeming to be a step too far, while Ripple’s XRP and Stellar’s Lumen steal the show at the start of the weej.
Bitcoin leads the way this morning, with the majority of the major cryptocurrencies in positive territory, though the rally from Sunday’s lows may be getting tired, with the cryptomarket having little impetus to continue moving higher
Cryptos are on the move this morning, through whether intraday gains can be held by the close remains to be seen, with investors continuing to selloff during any meaningful rallies.
Cryptocurrencies have remained under pressure early on Monday morning but prices rebounded during the midday trading.
The uptrend in the broad cryptocurrency market has been hit by headwinds the past week. Bitcoin, Ethereum, and Ripple have all seen downturns and are testing important support this weekend.
Bitcoin and the cryptos are in positive territory this morning, but there’s plenty of resistance and Bitcoin is struggling to make a move back through to $10,000 levels. If previous weekends are anything to go by, things could get bearish as the day progresses.
Having broken through its first major support level on Wednesday and tested its second major support level, there was some buying interest in the early part of this morning, after hitting an intraday low $0.92988, with Ripple moving through its 61.8% FIB Retracement of $0.9884 to an intraday high $1.0047 before resistance kicked in and Ripple’s XRP pulled back to $0.9594. In spite of the pullback, Ripple has managed to hold above its 23.6% FIB Retracement level of $0.9528, though having fallen back through the 61.8% and 38.2% FIB Retracement levels, we will expect Ripple to remain under pressure, with any fall back below $0.9600 continuing to support the bearish trend formed during the weekend. A pullback through Ripple’s 23.8% FIB Retracement level of $0.9528 and we could see Ripple begin to test its first major support level, though we wouldn’t expect a fall to sub-$0.90 levels through the day, while $1.00 levels also look to be out of reach for now.
Bitcoin is on the rise and the major cryptocurrencies have joined in recovery mode following Tuesday’s slide, though we’ve seen the cryptos fall back from intraday highs suggesting that it could be a choppy day ahead.
Cryptocurrencies have come off their short-term highs established on Friday, but remain rather stable.