Chill Sunday on the Crypto Markets, Bitcoin Dominance Starts to Drop With BTC Volume Reaching a New Low

Crypto Market Recap: 21, October 2018

Its a kind of chill Sunday in the crypto markets, no big moves with just a bit of sway. The weekend saw green, albeit smaller than some people would like. The altcoins are coming back up after a series of disappointments and indiscriminate drops. Not enough to recover but just enough to float.

The market capitalization has crept back up with a $2 Billion addition to the money box and now at $211.5 showing a 1% growth on the day. The 24-hour volume has dipped a bit at $9.4 Billion as is usual with weekend volumes. The Bitcoin dominance is still inching lower in very small increments and now at 53.5%, a good news for altcoins trying to get back up on their feet.

Bitcoin has gained a minuscule 0.73% on the day. It was a bit higher in the Asian trading sessions but not by much. Currently, on Binance, it is at $6623 and has been sideways since Tuesday. It doesn’t look like it’ll go either way in the short term and we may be stuck in the sideways business for a while before it either pushes up to break its resistance at $6900 or drop down to support at $6300. As some analysts have pointed out, the volume of Bitcoin trading at $3.1 Billion is a yearly low.

Ethereum performed better with a 1.04% gain on the day. Price wise, it’s still way below a recovery price. Currently, on Binance, it’s at $209 barely scratching the $215 initial resistance much less fight against the heavy defense at $220. Current support is at $205 where buyers might appear but as it is, it might be just following along with its big brother Bitcoin.

As in the previous day, the altcoins are still showing some positive price action although the gains are very small. Bitcoin Cash is leading for the day with 2.17% and trading at $452.28. A bit higher than last Sunday’s $450 but not by much. We have Monero, who was on the negative yesterday, moving forwards at 1.56%, and EOS, moving at 1.50%, trading at $5.48. The rest are at 0–1% gain on the day.

The Top 25 played well in the Asian trading sessions but made a bit of a pullback this Sunday morning. Dogecoin is starting to bark and has been consistently green for the past two days. It has earned 2.30% on the day and trading at $0.00459. OmiseGo is at 2.25% with Zcash at 1.63%. The rest are at 0–1.5% gains on the day with very little change.

As is usual when altcoins are beginning to feel confident enough, some coins would go pumping. Ravencoin is back on the board with a 28.69% pump, and Nexo and Bytom are both at 13%. The rest have a middling growth but the rest of the Top 100 altcoins are mostly green. Because yesterday’s pump is today’s dump, Cybermiles, Basic Attention Token (BAT), and Digitex Futures are of special mention in the other end of the tunnel.

So that’s it for our market recap this Sunday, if you’re trading today, be chill and trade safe. Otherwise, spend the rest of your remaining weekend wisely. Have a great day!


Originally published at dna.coinve.st on October 21, 2018.

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.