Crypto Market Recap: 08, November 2018
After almost a week of good tidings, the crypto markets has begun to dip during the Asian trading session. The board is back to red and most coins are going into a correction which might be a natural progression and not a signal that the bears are back again.
The market capitalization has gone down to $216 Billion at the time of this writing. The volume is now at $13.8 Billion and the Bitcoin dominance is going up again at 52%.
Bitcoin is currently at $6534, a minor correction from its $6579 high today. On Binance, it has not dipped below $6500 yet. There’s a sign of reversal already, with the last 4-hour Heikin Ashi giving a doji candle. RSI is going up above 40, same with Money Flow Index (MFI). However, the MACD is still showing a slightly bearish condition.
Ethereum is down to -2.52% on the day and currently at $215. It started its decline during the Asian trading and went as low as $214 before going back up. Like the Bitcoin, its already signaling reversal but recovery might be hard work again with lower volume.
The remaining Top 10 based on market capitalization are all red and has slid down in a big way. Bitcoin Cash, yesterday’s winner, has fallen down with -5.65% and trading at $594.70. XRP follows with a loss of -3.94%, and Litecoin, EOS, Cardano, and Stellar are all at 2+%. The rest are at 0–1% and those haven’t moved since yesterday.
The top 25 altcoins have the same story with most of them on the 0–2% losses. Dogecoin is the biggest loser at -4.62% and followed by Vechain and NEM at -3+%. Dash is the only one on the green on the Top 25 at 1.94%.
We’re back to the huge pumps and dumps today with Eternal Token growing double lives at 35.49%. It’s currently trading at $1.33 at the time of this writing. Basic Attention Token is still getting attention with growth just outside 10% at 9.24% on the day. Decentraland has grown 8.30% and WAX is doing good with 7.88%. On the losing side is Aeternity with a double-digit drop at -13.89%.
Overall, we are still up, there are no panic drops, and as mentioned, the drop might be a natural movement for the markets as investors take home gains for the short term. The consolidation channel is still strong and the market continues to move.
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 Thursday!
Originally published at dna.coinve.st on November 8, 2018.
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