Crypto Markets On Sideways Drift, Positive Sign For Altcoins Recovery Over The Weekends


It’s a Friday and the market did not fall as bad from its brief correction yesterday. The altcoins are back to green except for a handful of coins that did not recover. The market is still stable which is a welcome development this close to the weekends. Although the Top 10 is slow moving, many altcoins are starting to rev up again after a sideways drift from Bitcoin.

The entire market is now valued at $225 Million, just a touch more from yesterday’s $223 Billion. Early this morning on the Asian Markets, it has dropped to $220 billion before recovering. The trade volume has dropped to $12.8 Billion from yesterday’s $13 Billion.

Yesterday’s market correction did not accelerate which is good news this Friday in the crypto land. Markets have remained stable but are still below $230 billion, many cryptos have not moved over the past 24 hours but a couple of altcoins are moving today. The BTC dominance is lowering down at 53.2%, perhaps a sign that altcoins are starting to lift off. With Bitcoin on a sideways drift, it could be a positive sign for altcoins recovery over the weekends.

Bitcoin (BTC) has been hanging below $7k with 0.46% gain on the day. Currently, it is trading at $6960 which is not so far from where it was yesterday. The volume is steady at $4.4 Billion. Earlier, it went as low as $6775 before bouncing back to its current level. On the upside, it may cross yesterday’s resistance at $7080 and $7130 that it broke yesterday. On the downside, there is strong support at $6850.

Ethereum (ETH), which was pummeled by yesterday’s knee-jerk reaction to Bitcoin movement is still losing but has recovered a bit in the last few hours. Currently, it is at 0.52% gain at $280. Yesterday, the price went as high as $298 before correcting to as low as $270. After a bit of positive movement from the market, it reversed and moved back to $280. On the upside, it might cross back $290 in the near term. The support is at $270 which has been rejected a couple of times.

The Top 10 is back on the green albeit in lower percentages. The Top two winners are EOS and IOTA, both above 5% at the time of this writing. IOTA is still on its uptrend path that has started three days ago. Stellar, Litecoin, and Cardano are well above 1% and the rest are stuck below 1%.

The Top 25 crypto are performing well with Dogecoin still leading the market. Currently, it is at 19.34% gain at its current $0.003 price. Looks like Dogethereum, the announced smart contract that allows transfer of Dogecoin to and from Ethereum blockchain is being welcomed with gusto by its fans and followers. Monero is also making a move at 10.93%. Current price is now at  $109.61. VeChain and Ontology at 5-7% growth between them. The rest are green with mostly above 1% except for Tezos and Zcash which is down below 1%.

Down the entire board for the Top 100, Nano is having a field day at 16.34%. It is now at $3.01 from last Friday’s $2.13. It was announced that it is being listed at CoinBene Exchange which is the driver for today’s growth, but over the week, Nano has been steadily recovering behind the scenes.  Wanchain and Aion are at 16.41% and 14.61% respectively. The next leader today is Waltonchain at 12.00% with also a new listing at Bithumb. Just a touch below 10% is ICON, making back 8.62% on the day. Bytecoin follows at 7.98%. Noah Coin, the Philippine Remittance coin is suffering from a case of volatility and it is having an up again, and down again syndrome. Today it is up at 5.61%. Our biggest loser on the day is MOAC at -10.35%.

Overall, we are still on the positive though FOMO has not caught up with the market. But seeing a general green on the altcoins means that investors are starting to trust the BTC again and foraying back to other opportunities on the market.

This market recap first appeared at CoinDNA: Crypto Markets On Sideways Drift, Positive Sign For Altcoins Recovery Over The Weekends

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