The crypto markets are hardly moving this morning and things are going sideways for the most part. The market is a mix of red and green and most are not moving much either way. It looks like it is holding its breath for whichever Bitcoin will go. It’s been a quiet 3 days and seems to be waiting for the coin to drop (or move, as it is) any moment.
The market capitalization is back to $237.7 Billion which is where it was 2 days ago. The total trade volume for the last 24 hours is down to $11.8 Billion. The BTC dominance is still at a high 53%.
Yesterday, we mentioned that Bitcoin price could finally break the $7300 resistance. It has been trying to break this resistance for several days but buyers are not able to defend the position. Currently, it is back to this level consolidating at $7300 and poised for more gains. On the day, Bitcoin has gained 1.03%.
The current support level is at $7200. Should it break downwards, it can go as low as the next level of support at $7130. On the upside, the new resistance is at $7325. With the consolidation phase, and considering its recent movements, the price might start to range between the resistance and support areas. Some analysts are already on the line for a break out at $7400 and pushing up to $8k.
Ethereum (ETH) is still getting the worst hand. It is back to its previous level and trading at $286. On the day it has lost a meager -0.53% but its current price is so far back to where it has been for a long time a week ago. After going for the $300 level, it lost its power and began falling. It was propped up by the $284 support, however, preventing more losses. On the upside, the resistance is back at $294.
The Top 10 is stagnating with the exception of one or two coins moving in a big direction. Monero (XMR) is the biggest gainer today and currently at $138.56 with a 14.16% gain on the day. For the Top 10 it is unusual to have a big movement, but for XMR, which was recently endorsed by Satis ICO Advisory Research, things have been moving smoothly over the week now. Litecoin is next with at 4% pop on its price and currently at $67.41.
For the other altcoins on the Top 25, we have a mixed bag as well. OmiseGO is climbing at 10.98% gain on the day and changing hands at $4.71. OMG has been massively affected by the bear season and its price is still far from its January high at $25. VeChain is head to head with OMG at 10.19% gain. There are several other altcoins performing good today such as NEM at 8.32%, NEO at 7.61%, and Dash at 6.05%. The rest are performing under 5% and the reds are at a marginal loss of 1-2%.
The Top 100 have Bitcoin Dark, an abandoned coin, pumping at 277.34%. In a strange coincidence, or perhaps because of it, Komodo, where the Bitcoin Dark original team transferred, is also leading the Top 100 at 18.58%. WaltonChain and Stratis follow with 14.53% and 12.47% respectively. MOAC is losing again at -7.75% and Bitcoin Private is at -6.72%.
With this crypto market update, it could still turn either way. What team are you on?
This market recap first appeared at CoinDNA: Crypto Market Is Holding Its Breath While BTC Consolidates, Monero Shows Up With Double-Digit Gain On The Top 10
CoinDNA is an educational website that aids users in research, the first step of their investment journey, providing insights to help navigate investment decisions, including market data for individual tokens, a daily market report, and custom frequently-asked analytics.