The crypto market is beginning to look better at the time of this writing after flatlining for the better part of yesterday and the entire Asian trading session this morning. In the short amount of time, crypto has brightened up and is vigorously pushing the volume up again.
The market capitalization has climbed to $107 Billion at the last candle. Throughout the day, it stayed at $104 Billion and has not moved outside its range except for occasionally dipping back lower. The trading volume has not moved yet from its weekend doldrums at $11.4 Billion with the BTC dominance still at the same level yesterday at 54.9%. It looks like the day was on a repeat and are still clearing up the cobwebs from the weekend.
Bitcoin has been locked on $3200 range for two days now before suddenly climbing up for the past hour. It is currently trading at $3380. Yesterday, it was at $3265 at this same time when we released the market recap.
Ethereum has dropped further and has moved lower on the scales earlier. Now, following Bitcoins sudden movement, it is climbing up furiously and is in view of breaking to $90. It is now at $89.53 from yesterday’s $86.28. It is very weak this weekend and keeps cycling back to its lowest point this year. But we said yesterday that should it conquer the $90 resistance with good volume, it can go on a strong recovery this week. At the time of this writing, it has gained 2.98% on the day.
The Top 10 is has gone green after a lackluster performance the entire day. Litecoin continues to be the biggest gainer at 7.76% and exchanging hands at $28.31. It is continuing its recovery from yesterday and the strongest over the weekend. EOS follows with a sudden growth back to $2.08 and a 6.93% gain at the time of this writing. It has been flat the entire day. Bitcoin SV and Bitcoin Cash are still locked in a battle for position and are head to head with 4% gain on the day. Beyond that, most everything is very low key and is moving 2-4% loss/gain this Monday morning.
The same is true for the Top 25 where there is a sudden green after parking in the red zone for the entire day where no big movement at all. Still not as big recovery though but most coins are getting decent returns. The biggest gainer is Neo with a 5.78% gain and Dash running after a good recovery at 5.00%.
Throughout the day, there were several pumps that has come and gone. At the time of this writing, still perking up is Revain with 46.04% recovery. MobileGo, back at position #77 on the market capitalization has is currently pumping at 27.54%. ARBITRAGE, a new entry to the Top 100 is also making a good pump at 22.16%. Factom, a star coin several weeks ago is back to reclaim its glory at 16.75%. MOAC is back with a 16.33% gain on the day. Mithril rounds up our double-digit gainers today. Finally, at the other end of the balance, DEX is currently losing at -7.13% at the time of this writing.
Overall, the sudden surge on a Monday is now almost becoming a cliche and still feels like a setup. We will see later if it will not fall flat on its face and pop like a balloon again.