Monday Opens In The Reds After A Weekend Rise Electroneum Dumping Following A Big Pump

Crypto Market Recap

After regaining momentum over the weekend and getting some $20 Billion to the overall cryptocurrency market capitalization, Monday opens in the red. The Top 100 coins and tokens are losing today with only a few obscure coins and stablecoins in a minimal gain. 

The market capitalization has dipped and lost just short of 10 Billion from yesterday’s $228.8 Billion. Currently, it is at $219 Billion and the trade volume is still $13 Billion. Yesterday, the Bitcoin dominance also dipped to 51% but is now back up to 52.2% in signal that the altcoins are taking a rest and BTC is regaining capitalization.

The Bitcoin price at the time of this writing is at $6633 – a hundred less than yesterdays. The technical analysis points to going downwards as MACD is on the bearish side and RSI is still going to the oversold under 20. If it pushes lower, the support is at the $6550 in the short term. On the positive side, the resistance where buyers might appear is back at $6720 and has to clear at least $6750 in order to set sights for further gains.  

Ethereum is currently consolidating at $233 after going as high at $246 yesterday. it has lost -4.85% on the day and the chart is currently bearish on the short term. The current support is at $232 and further losses is at hand. On the other side, should it go upwards and cross back to $240, the resistance is at $247 where sellers might appear to take home gains. It needs to cross above $250 in order to generate more positive price action in the short term.  

Following the Bitcoin and Ethereum, the Top 10 is all red and poised for more losses today. Stellar has dropped after yesterdays spike and has lost -10.51% on the day. It is currently trading at $0.25 from yesterdays $0.296. XRP has also lost big time at -9.58%. Cardano follows with -8.18% and the rest is at 6-7% loss except Tether which is understandably on the green as traders seek to stop their losses. 

Further down the list on our Top 25. Bytecoin is the only one in the green at  6.90% and trading at $0.0021. The rest are all in the negative and majority is at 0-9% loss, except IOTA which has carried the double-digit divide at -10.72% loss. 

For the Top 100, it’s more of the same reds. A couple of coins are in the positive but is very minimal. Waves is at 2.30%, and the rest of the green is below 1%. Electroneum, which has been pumping all week, finally went on the reverse and is now dumping at -20.51%. PIVX is also getting hit hard at a -10.78% panic. The rest are at 0-7% loss. Power Ledger, DigixDao, Aurora, Monacoin, MOAC, and Holo are losing at -8%. 

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