Crypto Market Recap: 11, December 2018
The crypto markets are tensing up as the board begins to drip red again this Tuesday morning. Everyone is holding their breath for every market move and the big players are close to critical long-term support levels.
The market capitalization has gone down by $4 Billion overnight and is now at $108.3 Billion at the time of this writing. Trading volume is hanging by the thread at $13 Billion, although BTC dominance is still at 55%.
Bitcoin went south again with a loss of -3.88%, falling to $3363 at the time of this writing. Yesterday, we mentioned that if it firmly crosses $3500, it should be on the way to a good recovery. Unfortunately, $3500 was rejected and the price continued to drop throughout the Asian trading session. If this pushes thru, it is likely to retouch the base at $3200. Under this, the next level of support is at $2885. This price might not be the encouragement that the buyers are waiting for and could probably accelerate the crash again. On the other end, should it reconquer $3500, the next resistance is at $3900. Currently, the MACD on the 4-hour chart is flat and the S/RSI are going for the oversold.
Ethereum, which has started to recover to the $95 level over the weekend, is below $90 again and it has lost -5.11% on the day. At the time of this writing, the price is at $87.12. Although it looks primed for recovery, it is very much tied to the current crypto trends. As the third largest coin, it is moving in step with the current market and consolidating in a tight range after an intense collapse at the end of the previous week.
Predictably, the rest of the top 10 cannot be far behind. The altcoins are shedding gains over the weekend and are back to the floor. EOS is the top loser with a fall back to $1.85 after hitting $2 yesterday. Likewise, Bitcoin SV has fallen back to $90.55 with a loss of -8.24%. Stellar is in danger of losing its place to Tether on the 4th position as it hits $2.2 Billion market capitalization versus Tethers $1.8 Billion. The rest are at 2–4% loss on the day.
The Top 25 is also down with Dash leading the top losers at -8.10% and bringing its price to $65.88. Monero has lost -7.72% and drifted to position #12 on the market cap. Zcash and Neo have 6% losses each. Only TrueUSD is green on the Top 25 and, like Tether has been consistently moving up the ranks on the market cap.
Down the Top 100, there are no pumps ongoing at the moments. There are better performers though, such as TenX, currently trading at $0.290 and gaining 12.42% on the day. Bitcoin Private is also doing good at 10.23% gain on the day. On the other end, Factom is heavily punctured with a -27.94% dump today and catching up with those that fell last week. MOAC is also losing heavily with a -17.94% loss on the day. The rest of the double-digit losers are Bytecoin, Decentraland, and Decred, all with 10% losses on the day.
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 Tuesday!
Originally published at dna.coinve.st on December 11, 2018.
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