The crypto markets are finally gaining today, albeit in small doses and amounts. The greens are beginning to show and the top 100 cryptos are beginning to show some ebullience. This is a welcome sight following yesterdays dump.
Yesterday, the market capitalization lost about $15 Billion and today, it is back up once again at $215 after dropping as low as $205 Billion. The current trade volume is at $14 Billion and Bitcoin dominance is still up at 52.2%. We’re still about $10 Billion short from last Sunday’s total market capitalization.
Bitcoin price has increased a bit since yesterday and now at $6478 and has grown 1.07% on the day. Yesterday, it went as low as $6330 before finding buyers traversing the way back up to the current level. On the chart, MACD is crossing upwards back to the bullish side and S/RSI is way up on the overbought levels. On the upside, we might be seeing a movement to $6580 resistance before buyers cash out on their gains, above that, $6660 is the next target.
Ethereum has lost the second position on the market capitalization again today against XRP and is still not looking good although it is trying to come back up with a 2.74% gain on the day. Currently, it is at $214, which is at the same level it was a week ago last Wednesday. The chart is looking a bit better, the MACD is still trying to cross over to the bullish side but hasn’t met the volume yet. RSi is nicely placed at above 40.
On the Top 10, Ripple’s XRP is setting the trend for recovery and has recovered what it lost yesterday at 24.51%. XRP has really made a lot of movement as investors are reviving the FOMO over news of xRapid and Coil payments using XRP. The rest is up at 2-3% gain on the day, except Stellar, EOS, and Cardano at 5-7%.
There’s not much movement on the Top 25, everyone is trying to earn their keep and is on the green again. But theres no big runners. IOTA and Bitcoin Gold are at 4-5% but that’s about it. On the other side, Dogecoin is the only one on the red under -1%.
The Top 100 is also not enough to get anyone excited. There’s a huge pump going on with an obscure coin called ETERNAL TOKEN which has seen 85.74% gain on the day. It should be a classic p&d in one to two days. Electroneum is continually trying to impress on the second week at a 22.14% gain on the day and trading at 22.14%. Monacoin, after losing -10.07% yesterday, is back up at 21.14% gain. Below that, we have Mixin, Status, and Stratis at 9% gains. The rest are as the Top 25, all marginal greens.
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