Market Cap Suddenly Drops to $206 Billion, Bitcoin Is Moving Fast Towards Support

The crypto markets have perked up a bit this Monday in the Asian Markets as the Top 100 got a bit of CoinDNA MArket Recapgreen. But tides may be rising as the market seems to be shifting this Monday morning. Have we finally lost the volatility that’s been plaguing the markets for the past weeks?

 

The market capitalization has dropped sharply at  $206 Billion. The trading volume has increased at $10 Billion. It’s been 3 days since the Bitcoin dominance moved from 53.7% but now at the last hour, it has inched up to 53.8%.

 

The Bitcoin price has been dropping further this time with its current price at $6450 and has crossed the safe range and may now test the $6345 support The MACD is showing a sudden unrest as it suddenly drops to the bear section in the last candle of the 4-hour chart. RSI and MFI has fallen sharply as well.

 

 

Ethereum as well has dropped sharply in the last 4-hour candle and is now back to $204. It’s still in the safe range with the support at $203 but with the new Bitcoin movement downwards, it may follow and head down the second support at $198.

 

 

The Top 10 has dropped to all red, no more than the usual but it might not be feeling the effects of the sudden Bitcoin drop at the time of this writing. Monero and Tether are green and the rest is just under 1% loss.

 

In the Top 25, 0x is still positive at 2.27% gain. Dogecoin and Tezos are the biggest losers at -3.81% and -3.91% respectively. The rest are losing under 2%. Throughout the sideways market, the Top 25 was unable to have any meaningful recovery and the coins were just gaining and losing consecutively.

 

There are no pumps today down the Top 100 list. Throughout the past week, in a sideways market, small tokens recorded reasonable gains against Bitcoin in the range of 5 to 10 percent but the movement has been erratic and some are just losing the gains the next day. Today, Nxt has been surging at 11.09%. Outside of double-digit gains, we have MobileGo still green at 7.30%. Funfair is also feeling a bit happy at 6.59% gain on the day. On the other side, we have Veritaseum dumping at 10.83%.

Anyhow, this is today’s market recap to give you a glimpse of what happened on the crypto markets while you were sleeping. Trade safe, and have a great Monday!

Originally published at dna.coinve.st on October 29, 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.