Posted on

Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 18

Ethereum’s Joseph Lubin predicted this week that blockchain will make up more of the global economy in the coming decades.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Ethereum (ETH) co-founder Joseph Lubin expects the global economy to grow 10 times in the next 10 to 20 years, powered by the mass use of blockchain technology. According to him, the current condition of the nascent space is similar to the use of email in 1983, when only a handful of early adopters were using it.

Tyler and Cameron Winklevoss, founders of the Gemini crypto exchange, have welcomed Facebook’s rumored stablecoin. However, they said that cryptocurrencies will usher in a greater disruptive development compared to the social networking platforms.

Gradually, large traditional players in various fields are recognizing the power of blockchain technology and cryptocurrencies, partnering with various startups to gain the first mover advantage. Different nations are also not leaving any stone unturned to make the most of the budding technology.

These developments are positive for the future. Nevertheless, the price is yet to respond to improved fundamentals. What do the charts of the major cryptocurrencies project? Let’s find out.

BTC/USD

Though Bitcoin (BTC) has been rising above the psychological resistance of $4,000 for the past three days, it has not been able to sustain it. This shows profit booking at higher levels. If the price doesn’t close above $4,000 soon, we anticipate a mild correction to the 20-day EMA and below it to the uptrend line.

If the digital currency rebounds sharply from either of the supports and breaks out of $4,000, it will be a positive sign. It is then likely to rally to $4,255, which is a major hurdle. A close (UTC time frame) above $4,255 will complete a double bottom, which has a pattern target of $5,273.91.

Currently, both the moving averages are sloping up and the RSI is in the positive territory. Hence, the path of least resistance is to the upside.

BTC/USD

Our bullish view will be invalidated if the BTC/USD pair dips below the moving averages. On a fall below the 50-day SMA, the pair can drop to $3,355. Below this level, the final support is at $3,236.09. The downtrend will resume if the bears sink the price to a new yearly low.

Traders can retain the stop loss on the long positions below $3,236.09. We shall soon trail the stops higher to reduce the risk. We might suggest adding long positions on a close above $4,255.

ETH/USD

Ethereum (ETH) failed to sustain above $144.78 on March 16. This shows a lack of buying at higher levels. The price has again dipped back to the 20-day EMA, below which a fall to $134.50 is probable. Both the moving averages have started to slope up, which indicates a minor advantage to the bulls.

ETH/USD

A breakout and close above $144.78 can result in a move to the next overhead resistance of $167.32. If this level is also crossed, it will complete a bullish ascending triangle pattern that has a target objective of $251.64.

On the other hand, if the ETH/USD pair plunges below the moving averages, it can slide to the trendline of the ascending triangle pattern. Traders can keep the stops on the remaining long positions at $125.

XRP/USD

Ripple (XRP) has been trading close to the moving averages for the past few days. This period of consolidation is unlikely to continue for long. We expect a decisive breakout or a breakdown within the next few days.

XRP/USD

A breakout of $0.33108 will propel the XRP/USD pair to the resistance line of the descending channel. If the bulls succeed in pushing the price above the channel, we expect the pair to pick up momentum and start a new uptrend.

On the other hand, if the digital currency plunges below the uptrend line of the ascending triangle, it can drop to the next support at $0.27795. Below this level, a drop to $0.24508 is possible. Traders can protect their long positions with the stop loss just below $0.27795.

LTC/USD

Litecoin (LTC) broke above the resistance line on March 16, but it is facing profit booking at higher levels. If the price rebounds off $56.910, it will indicate strength and a rally to $65.561 is probable. Above this level, the up move can extend to $69.2790. Though the price has been moving up, the RSI has failed to catch up. This negative divergence on the RSI is worrying us. Traders can trail the stops on the remaining long positions to $52.

LTC/USD

We are not recommending booking complete profits at the current levels because, in a bull phase, the negative divergence on the RSI can often give a false signal. Notwithstanding, since it is a warning sign, we have proposed trailing the stops to protect the paper profits.

If the LTC/USD pair breaks down of the 20-day EMA, it can slide to the next support at $47.2460. The 50-day SMA is just below this level. A breakdown of this support will indicate weakness.

EOS/USD

EOS has been struggling to breakout of $3.8723, but is finding support close to the 20-day EMA. Both the moving averages are gradually trending up, and the RSI is in the positive territory, which shows that the bulls have a slight edge.

EOS/USD

If the EOS/USD pair sustains above $3.8723, it can move up to $4.4930. But if the pair turns down from the current levels and breaks below the 20-day EMA, a fall to $3.1534 is probable. Below this support, the trend will turn in favor of the bears. Therefore, traders can retain the stops on the remaining long positions at $3.1. We shall soon trail it higher.

BCH/USD

Bitcoin Cash (BCH) has quickly risen to the overhead resistance of $163.89. The attempt to breakout and sustain above it has failed. Still, with the 20-day EMA starting to slope up and the RSI in the overbought zone, the path of least resistance is to the upside. Above $163.89, it can rally to $175 and above it to $220.

BCH/USD

If the BCH/USD pair fails to scale above $163.89, it will again slide back to the 20-day EMA. The trend will turn negative if the bears sink the price below $120.46, and traders can retain the stop loss on the long positions at $116. We shall watch for a couple of days and then recommend trailing the stops higher.

BNB/USD

Binance Coin (BNB) broke out of the overhead resistance at $15.9100517 on March 16. We expected it to continue higher after breaking out of the resistance. However, the digital currency is stuck near the breakout levels for the past two days.

BNB/USD

A breakout of $16.6442826 can propel the BNB/USD pair to its target objective of $18. Both the moving averages are trending up and the RSI is in the overbought zone, which shows that the bulls have the upper hand.

However, if the price again slips back below $15.9100517, it will indicate profit booking at higher levels. The support on the downside is at the uptrend line and below it at 20-day EMA. If the 20-day EMA breaks down, the short-term trend will turn in favor of the bears. Therefore, please trail the stop loss on the remaining long positions to $14.

XLM/USD

Stellar (XLM) is consolidating near the recent swing high, which is a positive sign. The 20-day EMA is sloping upward and the RSI is close to the overbought zone, which suggests that the bulls are in command.

XLM/USD

On the upside, the XLM/USD pair has to breakout of the resistance line to pick up momentum. The targets are $0.13250273 and above it, $0.14861760.

Our bullish view will be invalidated if the price turns down from the current levels and slips below the 20-day EMA. In such a case, a fall to the uptrend line is probable. The traders can keep the stop loss on the long positions at $0.08.

TRX/USD

Though Tron (TRX) broke out of the 20-day EMA on March 16, it turned back from the 50-day SMA. The bulls could not keep up the buying pressure and it is currently struggling to hold the 20-day EMA.

TRX/USD

Both the moving averages are sloping down and the RSI has also slipped into the negative territory, which suggests that the bears have the upper hand. The TRX/USD pair will pick up momentum above $0.02815521. Until then, the bears are likely to sell on rallies.

On the downside, support lies at $0.02094452. If this level breaks, the next one to watch is $0.01830. We remain neutral on the digital currency until it breaks out and sustains above the range.

ADA/USD

Cardano (ADA) broke above the $0.036815 to $0.051468 range on March 16, but did not trigger our buy mark of $0.05650 suggested in the previous analysis. However, it has not given up much ground as is trying to hold above the previous resistance-turned-support of $0.51468. This is a positive sign, as it shows that the bulls are in no hurry to book profits.

ADA/USD

If the ADA/USD pair picks up strength and rallies above $0.05650, we expect it to reach $0.066121 and above it to $0.080. Therefore, we retain the buy suggested in the previous analysis.

Contrary to our assumption, if the price sustains below $0.051468, it can drop to the 20-day EMA, which should provide support. If this support breaks, the pair will extend its stay in the range.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Posted on

Top 5 Crypto Performers Overview: Stellar, Bitcoin Cash, Cardano, Dash, Monero

The crypto market is looking at a tentative uptrend — let’s take a look at the coins leading the way.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

The crypto markets are showing the first signs of bottoming out. Most cryptocurrencies are well above their yearly lows and are starting new uptrends. Every bull phase has a new set of leaders. Therefore, it is important to note the digital currencies that are pulling the market higher, as these are the ones that are likely to outperform during the move upwards.

Bitcoin’s (BTC) dominance continues to drop gradually since reaching a high of about 57.80 percent in mid-September. This shows that the market participants are loading up on altcoins. However, a new bull phase cannot start without support from the leading cryptocurrency.

The good news regarding Bitcoin is that it has stopped falling and is gradually moving higher. Its volume topped $11 billion over the 24-hour period on March 15, a level not seen since April 25 of last year. This shows that market participants are gradually turning bullish on the leading cryptocurrency.

As the crypto universe emerges from its prolonged bear phase, there will be periods when Bitcoin will lead and other times when altcoins will lead. So, traders should change their strategy accordingly.

XLM/USD

Stellar (XLM) is the best performing major cryptocurrency of the past week. It rallied on the back of favorable news, as Coinbase Pro announced support for Stellar on March 13. This move will likely eventually lead to full support on Coinbase’s other platforms. The appointment of Denelle Dixon, former chief operating officer at Mozilla, as the CEO and executive director of Stellar Development Foundation also served as bullish news.

Additionally, IBM’s push to create a stablecoin targeting blockchain-powered cross-border payment solutions for banks involves a partnership with the altcoin in the form of Blockchain World Wire. The question is, can this adoption and development-based rally continue or will it hit a roadblock ahead? Let’s take a look at the charts.

XLM

The XLM/USD pair is in a downtrend. Both the moving averages are still down and the RSI is in the negative zone. Currently, it is attempting to pullback from the lows, which will face resistance at $0.14861760 and above it at the downtrend line.

We are yet to see a higher high and a higher low being formed, which will indicate that the downtrend is over. Therefore, for long-term investors, we don’t see any reliable buy setups yet. If the pair turns down from the 20-week EMA, it will again attempt a breakdown to new lows.   

BCH/USD

Bitcoin Cash (BCH) was the second-best performer for the week, rising about 15 percent. Though there was apparently no specific news driving prices higher, the digital currency has a history of vertical rallies and waterfall declines. Let’s see where it goes from here.

BCH

After many small range weeks, the BCH/USD pair is looking to move up. The current move is likely to carry it to the 20-week EMA, which is just below the horizontal resistance of $239. If the bulls succeed in breaking out of $239, we anticipate the pair to pick up momentum and rally to $400. The digital currency has a history of sharp rallies; hence, the target might surprise to the upside.

Contrary to our assumption, if the cryptocurrency turns down from $239, it might extend its stay in the range for a few more weeks. It will turn negative if the bears sink the price below $105.

ADA/USD

Cardano (ADA) announced this week that it will be one of the founding members of the  European Commission’s International Association for Trusted Blockchain Applications. The association is an effort to identify the improvements blockchain technology can bring to various industries and formulate a common approach for the European Union.

ADA

The ADA/USD pair has been range bound between $0.036815 and $0.051468. We like it when a digital currency forms a large basing pattern after a prolonged downtrend. Previous attempts to breakout or breakdown of the range did not find any takers.

Currently, the bulls are trying to breakout of the range once again. The 20-week EMA is just above this level, which might also act as a roadblock. If the digital currency scales above the 20-week EMA, we anticipate a quick rally to $0.082952 and above it to $0.094256. Therefore, traders can buy on a weekly close (UTC time frame) above $0.051468 and keep a stop loss of $0.0350.

Opposite to our expectations, if the digital currency turns down from the current levels, it will extend it stay in the range for a few more weeks. A breakdown of the range will be a negative sign that can result in a retest of the lows, below which the downtrend will resume.

DASH/USD

Dash (DASH) has been making huge inroads in Venezuela as the citizens look at various available avenues to deal with the unstable Bolivar and foreign sanctions, which threaten to derail SWIFT, Visa and MasterCard services. Dash Text has come up with a charity system that is devoid of any human third-party intervention. The donations are directly distributed among the pool of recipients. In other news, Equicex Group, the provider of privacy-focused debit cards, has decided to integrate Dash, which increases the options available for Dash users.

DASH

The DASH/USD pair continues to trade between $56.214 and $103.261. The bulls are attempting to push prices above the resistance of the range. The 20-week EMA is placed just below $103.261 levels. We expect the bears to defend this resistance. If the price turns down, then the consolidation will stretch out for a few more weeks. The trend will turn negative if the bears sink the digital currency below the range.

Conversely, if the bulls succeed in breaking out of the overhead resistance, it can move towards the next levels of $175 and $224. Aggressive traders can buy a breakout and weekly close (UTC time frame) above $103.261. The initial stop loss can be kept at $56 that can be quickly raised if the price moves northwards or fails to build upon gains following the breakout.

XMR/USD

In Monero (XMR) news, the altcoin completed a hard fork on March 09 that will help improve its privacy, security and ASIC resistance. Following the update, the hash rate of the Monero network plunged by about 90 percent from 1.14Gh/s to 162.14Mh/s. Additionally, two new Monero trading pairs were added by top global exchange Binance. Given these developments, the cryptocurrency came out this week as the fifth best performer. Can it improve upon its performance?

XMR

The bulls are attempting to carry the XMR/USD pair above the resistance of the range at $60.1470 and the 20-week EMA at $62.50. If successful, a quick rally to $81, followed by a move to $114.840 is probable. The long-term target is $150.

Traders can buy on a close above $62.5 and keep a stop loss of $38, which is just below the bottom of the range. As the price moves higher, we would suggest trailing the stops higher to reduce risk.

On the other hand, if the price turns down from the overhead resistance, the virtual currency will remain range bound for a few more weeks. The trend will turn negative on a breakdown of the current range.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

Posted on

All Eyes on Cardano ADA After Coinbase Stellar XLM Addition

Following yesterday’s sudden addition of Stellar XLM to U.S.-based cryptocurrency exchange Coinbase, investor interest has quickly shifted to Cardano ADA.

While the entire industry is experiencing a bump in price, with Bitcoin making another run at $4000 for the third time in 2019, eleventh-largest coin by market capitalization Cardano has managed to outpace the rest of the market.

Some of the ADA price action is being driven by a buoying of the rest of the market, with most coins experiencing a double-digit appreciation since the start of the year–a welcome change from 2018’s endless downward spiral. However, many investors are also piling into Cardano from FOMO and anticipation of another Coinbase listing, with ADA being the last of a long-awaited group to be added to the exchange.

In July 2018, Coinbase announced exploration into five new cryptocurrencies for listing, addressing one of its most common customer complaints that the exchange’s offering was too limited. Of the five coins that were originally outlined in that update, Cardano is the only coin to not yet be listed.

Despite, at the time, Stellar XLM and Cardano ADA being the most popular and heavily favored choices for Coinbase to offer investors, it’s surprising that they were the last two coins to be considered–with ADA still waiting for integration. However, both coins offer significant advantages to both Coinbase users and the industry of crypto. Stellar has been at the forefront of non-profit cryptocurrency engagement, and is targeting unbanked populations in developing countries.

Cardano, similar to Ethereum, is looking to build a network of blockchain use that extends beyond monetary transfers. With the guidance of IOHK CEO and former ETH co-founder Charles Hoskinson, ADA has managed to build a fair amount of interest in the 1.5 years it has been available on the open market.

However, the current rush of ADA investors would be wise to consider the position of Coinbase. While it does appear that the exchange is set on increasing its cryptocurrency selection at an accelerated pace relative to past engagement, there is no guarantee that Cardano will be coming to Coinbase any time soon. Investors are basing their decision on the fact that XLM followed XRP’s listing by a few weeks, as opposed to the months that have traditionally passed between Coinbase listings.

Despite Coinbase announcing in December their intention to add hundreds of new currencies–with XRP being listed as one of the possible coins–some community members believe that Ripple paid for the coin to be added to the exchange. For one, the timing was convenient for both Ripple and XRP, giving a positive boost to the currency in the wake of J.P. Morgan’s JPM Coin announcement. And, as other analysts have pointed out, XRP violates Coinbase’s guidelines for listing new currencies by way of Ripple’s majority stake in the coin.

That being said, investors are attempting to make the most out of the Coinbase FOMO and new coin excitement, given the waning we have seen over the last year in the exchange’s influence on cryptocurrency prices.

Title image courtesy of beatingbetting.co.uk

The post All Eyes on Cardano ADA After Coinbase Stellar XLM Addition appeared first on Ethereum World News.

Posted on

Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 15

Some experts are predicting another Bitcoin rally in August once fundamentals have improved.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

In a recent interview, United States Securities and Exchanges Commission (SEC) Chairman Jay Clayton said that he is concerned about manipulation and custody services in the crypto space. If these issues are addressed and if any Bitcoin ETF satisfies their rules, it might stand a chance of getting the green light.

While crypto markets are speculating on the probability of a Bitcoin ETF, the Chicago Board Options Exchange (CBOE), has announced that it will not be offering any new Bitcoin futures contracts in March. This is likely to benefit its competitor CME, which will continue to provide the traders with an opportunity to trade in Bitcoin futures.

Fundstrat Global Advisors founder Tom Lee believes that the fundamentals of Bitcoin are improving. He expects a turnaround by August of this year. On the way up, he anticipates $6,000 to act as a major resistance.

Let’s see what our analysis projects.  

BTC/USD

Bitcoin (BTC) is trying to bounce off the 20-day EMA and rise above the psychological resistance of $4,000. Both the moving averages are gradually sloping up and the 20-day EMA has held in the past few days, which shows buying at lower levels. We expect the digital currency to pick up momentum above $4,000 and quickly rally to $4,255. If the bulls scale this level, it will complete a double bottom pattern that has a target objective of $5,273.91.

BTC/USD

On the contrary, if the BTC/USD pair again turns down from $4,000 and breaks below the uptrend line and the 50-day SMA, it will indicate profit booking and aggressive short initiation at higher levels.

The critical zone to watch on the downside is $3,355–$3,236.09. A breakdown of this zone will be very negative. The downtrend will resume if the digital currency plunges to a new 52-week low. Therefore, traders can keep the stop loss on the existing long positions below $3,236.09. We will soon trail the stops higher.

ETH/USD

Ethereum (ETH) has successfully held the support at $134.50. The bulls are trying to push the price towards $144.78. Both the moving averages are flat and the RSI is also close to the center. This suggests equilibrium between buyers and sellers.

ETH/USD

If the ETH/USD pair picks up momentum and breaks out of $144.78, it can rally to the critical overhead resistance of $167.32. Above this level, the ascending triangle completes that has a pattern target of $251.64.

The trend will weaken if the digital currency drops below 50-day SMA. The next support on the downside is $116.30. The uptrend line of the ascending triangle is also at this level; hence, we expect this to hold. A break below the uptrend line will invalidate the bullish pattern, which is a negative sign. Traders can protect the remaining long positions with stops at $125.

XRP/USD

Ripple (XRP) has been clinging to the uptrend line of the developing ascending triangle for the past few days. Both the moving averages are flat and the RSI is at the midpoint, which points to a balance between demand and supply.

XRP/USD

If the XRP/USD pair slips below the uptrend line, it can drop to the support at $0.27795. A breakdown of this level can retest the yearly low at $0.24508. Therefore, traders holding long positions can keep the stop loss just below $0.27795.

On the other hand, if the pair spurts higher from the current levels and rises above $0.33108, it can move up to the resistance line of the descending channel. A breakout of the channel will indicate a likely change in trend.

LTC/USD

Litecoin (LTC) again took support close to the 20-day EMA on March 14. Currently, the bulls have pushed the price above the overhead resistance of $56.910, which is a bullish sign. The next resistance on the upside is $59.4494. If the bulls succeed in scaling this level, we anticipate a rally to $65.5610 and above it to $69.2790.

LTC/USD

While the up-trending moving averages are bullish, the negative divergence on the RSI is worrying us. If the RSI breaks out of the resistance line, it will be another positive sign.

Our bullish view will be invalidated if the LTC/USD pair breaks down of the 20-day EMA and drops to $47.2460. Traders can retain the stops on the remaining long positions at $50.

EOS/USD

EOS has been holding above the 20-day EMA for the past four days. Repeated attempts by the bears to sink the price below this level have failed, which shows buying at lower levels.

EOS/USD

Both the moving averages are gradually moving higher and the RSI has also turned up. We expect the bulls to make another attempt to scale above the overhead resistance of $3.8723 and rally towards $4.4930.

However, if the EOS/USD pair turns down from current levels and slips below the 20-day EMA, it will correct to $3.1534. The 50-day SMA is also at this level, hence, we expect this support to hold. But if the bears sink the pair below the 50-day SMA, it can correct to $2.1733. Therefore, traders can keep their stops on the remaining long positions at $3.10.

BCH/USD

Bitcoin Cash (BCH) is currently attempting to sustain above the $120–$140 range. The strong bounce from the 50-day SMA increases the probability of a breakout and close (UTC time frame) above $140. Following the breakout, the move can extend to the next overhead zone of $157.95 to $163.89. As the digital currency has a history of vertical rallies, traders can trail their stops higher instead of booking profits at the above-mentioned levels. If the momentum picks up, the rally can reach $186.30 and above it $239.

BCH/USD

However, if the BCH/USD pair reverses direction from the current level, it will prolong its stay in the range for a few more days. It will turn negative on a breakdown of the range at $120. The next level to watch on the downside is $105. For now, traders can keep the stops on the long positions at $116.

BNB/USD

Binance Coin (BNB) has been consolidating close to the overhead resistance of $15.9100517 for the past three days. It has not given up much ground, which suggests that the bulls are in no hurry to book profits on their positions.

BNB/USD

The trend remains firmly up as both the moving averages are sloping up and the RSI is in the overbought territory. This increases the possibility of an upward breakout that can carry the BNB/USD pair to $18. Therefore, traders can retain the stops on the remaining long positions at breakeven. We shall suggest trailing the stops higher next week.

Our bullish assumption will prove to be wrong if the pair reverses direction from the current levels and breaks below the 20-day EMA. The next support on the downside is the 50-day SMA.

XLM/USD

Stellar (XLM) has been crawling higher for the past few days but is struggling to breakout of the resistance line. A breakout of the resistance line will propel it towards $0.13427050. With the 20-day EMA sloping up and the RSI close to the overbought level, the path of least resistance is to the upside. Traders can protect their long positions with a stop loss of $0.08.

XLM/USD

Contrary to our assumption, if the XLM/USD pair fails to breakout of the resistance line, it can slide to the 20-day EMA and below it to the uptrend line. A breakdown of the uptrend line will indicate that the bears are back in the driver’s seat and a retest of the low is probable.

TRX/USD

Though Tron (TRX) has been trading below the 20-day EMA for the past few days, the bears have not been able to sink it below $0.02094452. This suggests buying at lower levels.

TRX/USD

As the TRX/USD pair has held up close to the 20-day EMA for the past few days, we expect the bulls to make another attempt to push prices higher. On the way up, after crossing 20-day EMA, the 50-day SMA will act as the first resistance. The final hurdle is $0.02815521, above which, we expect a new uptrend to start. We shall suggest initiating long positions after the pair sustains above the range.

But if the digital currency turns down from the current levels and slides below $0.02094452, it can drop to $0.01830. This is an important support. If this breaks down, a retest of the lows is probable. We do not see a reliable trade set up as long as the virtual currency is stuck inside the range.

ADA/USD

Cardano (ADA) continues to be range bound between $0.036815 and $0.051468. It has reached the top of the range, from where it had returned thrice in the past. The bulls will attempt to scale above this while the bears will try to defend it.

ADA/USD

As the 20-day EMA is trending up and the RSI has sustained in positive territory, we anticipate a breakout this time. The minimum target objective following the breakout is $0.066121 and if it is crossed, the next level to watch is $0.080. Therefore, the traders can buy above $0.0565 and keep a stop loss at $0.044 for now. We shall soon trail the stops higher.

Our bullish view will be invalidated if the ADA/USD pair turns down from the current levels. In such a case, the range bound action will continue for a few more days. The pair will turn negative on a breakdown and close (UTC time frame) below the range.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

Posted on

Crypto Markets See Mixed Action While Bitcoin Holds $3,900, US Stocks Rise

Cryptocurrencies see mixed signals on Wednesday, with Bitcoin briefly dropped below $3,900.

Wednesday, March 13 — cryptocurrencies continued trading sideways today, with most of the top 20 cryptocurrencies by market capitalization seeing moderate price changes since yesterday.

Market visualization from Coin360

Market visualization from Coin360

Bitcoin (BTC) has managed to hold the $3,900 price threshold by press time, staying relatively stable since March 6. However, the biggest cryptocurrency dropped below the price point earlier on the day, with the intraday low of $3,891. At press time, Bitcoin is trading at $3,910, down around 0.01 percent over the past 24 hours.

Bitcoin 30-day price chart. Source: CoinMarketCap

Bitcoin 30-day price chart. Source: CoinMarketCap

Ethereum (ETH), the second largest cryptocurrency by market cap, is trading at $133.31, down 0.44 percent over the past 24 hours. The top altcoin is seeing a considerable decline over the past 7 days, down almost 4 percent on a week.

Ethereum 7-day price chart. Source: CoinMarketCap

Ethereum 7-day price chart. Source: CoinMarketCap

Ripple (XRP), the third top cryptocurrency by market cap, is up 1.22 percent to $0.314 at press time. With that, the second top altcoin is still down 0.88 percent over the past 7 days.

Ripple 7-day price chart. Source: CoinMarketCap

Ripple 7-day price chart. Source: CoinMarketCap

Top 20th cryptocurrency Ontology (ONT) is seeing the most growth among the top 20 coins by market cap, up 3.66 percent over the past 24 hours. The largest losses among top 20 do not exceed 2 percent at press time, with Maker (MKR) down 1.62 percent at press time.

Total market capitalization has continued to hover around $134 billion today, while daily trade volume is at $30 billion.

Total market capitalization 7-day chart. Source: CoinMarketCap

Total market capitalization 7-day chart. Source: CoinMarketCap

Earlier today, Thailand’s securities regulator approved the first initial coin offering (ICO) portal in the country. The portal reportedly allows the screening of ICOs, as well as due diligence checks and the confirmation of smart contract source codes and Know Your Customer (KYC) processes.

Yesterday, Bloomberg published an article suggesting that Bitcoin could see another sell off based on key price movement trends. According to the report, technical gauges signaling long-term buying demand for Bitcoin are deteriorating, with the seminal crypto’s Moving Average Convergence Divergence declining since mid-February.

The United States stock market seen growth today as tech shares outperformed, according to a CNBC report. At press time, Dow Jones Industrial Average (DJIA) is up 0.7 percent by 185 points, while S&P 500 (SPX) and Nasdaq (NASDAQ) Composite are both up almost 1 percent.

Oil prices also rose today as U.S. inventories fell by 3.9 million barrels last week, while sanctions stall exports from Venezuela, according to CNBC. West Texas Intermediate (WTI) crude oil is seeing a significant growth of 2.3 percent at press time, while Brent crude oil futures are up 1.3, according to Oilprice.com.

Gold prices almost hit a two-week high today, buoyed by reinforced views that Federal Reserve would be patient on monetary policy, as well as uncertainty over a Brexit deal, CNBC wrote. At press time, spot gold is up around 0.5 percent to $1,309 per ounce, which is the highest level since March 1, while gold futures are seeing a growth of 0.6 percent.

Posted on

Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, TRON, Cardano: Price Analysis, March 13

Numerous companies have been moving ahead with blockchain and crypto projects, showing interest from traditional players.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

Barclays internet analyst Ross Sandler believes that a cryptocurrency by Facebook could add $19 billion to its revenue by 2021. If that happens, it will help expand the reach of cryptocurrencies and will be a major sentiment booster for the whole sector.

Overstock.com’s blockchain subsidiary, Medici Ventures has purchased a 5.1 percent stake in the blockchain banking platform Bankorus. The firm has purchased significant stakes in various blockchain companies.

It is not only in the West that crypto is generating significant interest. Chinese cryptocurrency mining manufacturer Canaan Creative is rumored to have secured hundreds of millions of dollars of financing from unnamed parties.  

We find numerous companies that have been moving ahead with blockchain– and crypto-related projects. This shows that the sector is generating huge interest from traditional players. It is only a matter of time before the price of cryptocurrencies starts to react to all these positive fundamental developments.

However, analysts at Bloomberg expect Bitcoin to head southward. They have observed that the price action is similar to November of last year, which had led to a sharp fall. But what do our charts forecast? Let’s find out.

BTC/USD

The bulls are providing support to Bitcoin (BTC) at the 20-day EMA. Both the moving averages are gradually moving up and the RSI is in the positive zone. This shows that bulls have a slight advantage. However, in order to solidify their position, they should quickly carry the digital currency above $4,000.

We expect a new uptrend on a breakout and close above $4,255, as it will complete a double bottom pattern that has a target objective of $5,273.91. Traders can add to their long positions on a close (UTC time frame) above $4,255.

BTC/USD

On the downside, the BTC/USD pair has support at the 20-day EMA. If this breaks, the next support is at the uptrend line and finally at the 50-day SMA. If the pair plummets below the 50-day SMA, it can drop to the final support zone of $3,355–$3,236.09. This is the last support, below which, the downtrend will resume. Therefore, traders can maintain their stops on the existing long positions below $3,236.09. We shall raise the stop loss before the end of this week.

ETH/USD

The bulls are struggling to keep Ethereum (ETH) above $134.50. Though they purchased the dip to the 50-day SMA on March 12, they have not been able to sustain above the 20-day EMA. Currently, both the moving averages are flattening out and the RSI is close to the midpoint. This suggests a consolidation in the near term.

ETH/USD

A breakdown of the 50-day SMA can sink the ETH/USD pair to the next support at $116.30. This is a major support, as the uptrend line of the ascending channel also lies at this level. Hence, we anticipate buyers to step in and buy close to $116.30. But if the pair breaks down of this critical support, a drop to $102.49 is probable.

Conversely, if the bulls scale above $144.78, the up move can reach $167.32. The ascending triangle pattern will complete on a breakout and close above $167.32. This has a pattern target of $251.64. Traders can keep the stops on the remaining long positions at $125.

XRP/USD

The intraday range in Ripple (XRP) had been shrinking for the past few days. The attempt by the bulls to resolve the tight range on the upside is not finding buyers at higher levels. This is a bearish sign. A breakdown of the uptrend line can sink the virtual currency to the next support at $0.27795. If this level also breaks down, the final support is the yearly low of $0.24508, below which the downtrend will resume.

XRP/USD

However, as long as the XRP/USD pair stays above the uptrend line of the ascending triangle, the bulls are likely to attempt to scale above $0.33108 once again. On a close (UTC time frame) above $0.33108, the pair is likely to pick up momentum and rally to the downtrend line of the descending channel. A breakout of the channel will indicate a likely change in trend. For now, traders can keep the stop loss on the long positions below $0.27795.

LTC/USD

Litecoin (LTC) found support close to the 20-day EMA on March 12, but the bulls have not been able to breakout of the overhead resistance at $56.910. However, both the moving averages are sloping up and the RSI is in positive territory, which suggests that the bulls have the upper hand. A breakout and close (UTC time frame) above the overhead resistance zone of $56.910–$59.4494 can propel the digital currency to $65.5610 and above it to $69.2790.

LTC/USD

Contrary to our assumption, if the LTC/USD pair breaks down of the 20-day EMA, it will weaken the momentum and a fall to $47.2460 is probable. Therefore, traders can protect their gains on the remaining long positions with the stop at $50. The only thing bearish on the chart is the negative divergence on the RSI.

EOS/USD

EOS has failed to cross above the downtrend line for the past four days. However, a positive is that it has not yet broken down of the 20-day EMA. If the digital currency breaks out of the downtrend line and $3.8723, it can pick up momentum and rally to $4.4930.

EOS/USD

On the other hand, if the bears sink the EOS/USD pair below the 20-day EMA, it can fall to the next support at $3.1534. The 50-day SMA is also located at this level, hence, we expect strong demand at this level. But if the seller’s break down of this critical support, it will re-enter the range and can slide to $2.1733. Hence, traders can protect their remaining long positions with the stops at $3.10.

BCH/USD

Bitcoin Cash (BCH) had dipped closer to the bottom of the $120–$140 range on March 12, where buying emerged. However, the bulls have not been able to push the price above the moving averages, which shows a lack of demand at higher levels. The bears are likely to attempt to breakdown of $120 level once again. If successful the digital currency can fall to $105, which is a strong support. But if this support gives way, a retest of the yearly low of $73.50 is probable.

BCH/USD

Conversely, if the BCH/USD pair rises above the moving averages, the bulls will attempt to breakout of $140 and rally to the next overhead zone of $157.95–$163.89. Above this zone, the next level to watch on the upside is $175. For now, traders can retain the stops on the long positions at $116.

BNB/USD

Binance Coin (BNB) broke out of the pennant on March 12 but is currently facing resistance at $15.9100517. Both the moving averages continue to trend up and the RSI is in the overbought zone, which shows a strong uptrend.

BNB/USD

A breakout of $15.9100517 can propel the BNB/USD pair to $18, above which a retest of the lifetime highs is possible. On the other hand, if the pair turns down from current levels, it has support closer to $14, below which a drop to the 20-day EMA is possible. As the traders have already booked partial profits earlier, we suggest to retain the stops on the remaining long positions at the breakeven. If the cryptocurrency does not sustain above $15.9100517  within the next couple of days, we shall suggest booking profits on the complete position.

XLM/USD

Stellar (XLM) has been consolidating for the past two days. We like that it has not given up much ground. The 20-day EMA is sloping up and the RSI is close to the overbought levels. This suggests that the bulls are at an advantage. A breakout of $0.011245806 can propel the digital currency to $0.13427050.

XLM/USD

Conversely, if the XLM/USD pair turns down from current levels, it can drop to the 20-day EMA, which is a critical support. If this support breaks, the pair can correct to the uptrend line. This line has provided support three times, hence, we expect the price to find buyers close to it. However, if the bears break down of the uptrend line, a retest of the yearly lows is possible. Therefore, traders can maintain the stops on the long positions at $0.08.

TRX/USD

Tron (TRX) has been sustaining below $0.02306493 for the past two days. This shows a lack of demand at lower levels. The 20-day EMA is sloping down and the RSI is languishing in the negative zone, which suggests that the path of least resistance is to the downside.

TRX/USD

The TRX/USD pair has support at $0.02094452, below which the slide can extend to the critical support of $0.01830. We expect the bulls to defend $0.01830, hence, we might suggest a long position if the pair bounces off this support.

Our bearish view will be invalidated if the price bounces off the current levels and rises above the moving averages. We shall suggest a long position if the digital currency sustains above $0.02815521. Until then, we remain neutral.

ADA/USD

Cardano (ADA) has been range bound between $0.036815 and $0.051468 since Dec. 21. The price has bounced off the supports twice, which shows buying at lower levels. However, the bulls have not been able to break out of the range, which shows profit booking closer to the resistance of the range.

ADA/USD

The 20-day EMA is sloping up and the RSI has also moved into positive territory. This shows that the bulls have the upper hand in the short term. A breakout and close (UTC time frame) above $0.051468 is likely to result in a new up move that can carry the price to $0.066121 and if this is crossed, the rally can extend to $0.080.

The traders can purchase the ADA/USD pair above $0.0565 and keep a stop loss at $0.044 for now. We shall trail the stop loss higher as the price moves up in our favor or if it fails to follow up after breaking out of the range.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

Posted on

Cardano (ADA) Attempt to Break Above $0.4800: Latest News Summary

Per time of writing one of the only in the green among leading coins by market capitalization is Cardano (native token ADA  ranked 11th) counting 3.35% increase in the last 24-hours. Despite that it is lower compared to Yesterday (10th of March) the transaction volume of ADA is currently on the rise reaching for the big $40 mln ($39.1 mln present) on various crypto-exchanging platform.

ADA

Source: coinmarketcap

The pair ADA/USD is currently changing hands at $0.04666 and as it is standing on the rising on the hourly trading chart it is possible that in the coming days the value will test the major $0.4800 with the chance of breaking above the monthly declining trend while riding on the supportive trend.

Coin News

Cardano (ADA) Latest:

– One of the three parties that make Cardano [ADA] the project that it is today – the venture and commercial arm EMURGO announced that it is planning to expand further into India via opening a blockchain academy.

Called EMURGO Academy – the institution targets to train developers that are interested into blockchain-crypto developing thus increasing adoption of block-tech. EMURGO’s academy aims at supplying talented developers with the tools needed to thrive in the blockchain industry.

– During YouTube’s Cryptocurrency Virtual Summit, the co-founder and creator of the 11th largest digital coin by market capitalization – Charles Hoskinson, also co-founder of Ethereum [coin lead by Vitalik Buterin], dug dipper into the progress which Cardano made until now since its debut and what kind of mindset does it take to run a project of this scale even during cold weather. According to Mr. Hoskinson, what stands the most out for him is the teachings that the road until now gave him and his team on how to introduce and make a cryptocurrency function in the market.

“The big accomplishment is just learning how to have a cryptocurrency in the market, learning how to have a product that can evolve at a reasonable pace, and being able to actually execute on the science, because the science is so very complicated and it’s all new protocols. And being able to actually go from the lab to a specification to code, and have a reasonable vision of how we’re actually going to roll that code out and ship it to people and get it to work. I think that that’s what I’m most proud of.”

The post Cardano (ADA) Attempt to Break Above $0.4800: Latest News Summary appeared first on Ethereum World News.

Posted on

Ethereum Has More Than Twice as Many Core Devs per Month as Bitcoin: Report

Ethereum has the most developers working on its base protocol of all cryptocurrencies, not counting community project developers.

Ethereum (ETH) has the most developers working on its base protocol of all cryptocurrencies, not counting community project developers, according to a report by crypto asset management firm Electric Capital. The report was published in a Medium post on March 7.

Per the post, the company fingerprinted over 20,000 code repositories and 16 million commits to obtain data, which reveals that on average 216 developers contribute code to ETH repositories every month. The company also specifies that this data “is undercounting the number of Ethereum developers since we do not include ecosystem projects like Truffle.”

Bitcoin (BTC), the largest of all cryptocurrencies by market capitalization, has a healthy developer base as well, averaging over 50 developers per month. The report specifies that this data does not include ecosystem projects.

An even more restrictive data set, which only considers contributions to core protocol, reveals that:

“Ethereum is by far the most active at 99 monthly developers on average.”

Bitcoin, on the other hand, has an average of 47 core protocol developers every month, making it the second most active.

The data also reveals that big platforms such as Eos (EOS), Tron (TRX) and Cardano (ADA) all have over 25 monthly core protocol developers on average.

Another point made in the report is that while the market lost about 80 percent since its peak, data shows that the monthly active developer base has fallen by only 4 percent. Moreover, according to the report, the number of developers working on public coin repositories has doubled over the last two years.

According to the company’s global data, over 4,000 developers per month contribute code to over 2,800 public coins. As the study notes, this data does not consider private, not yet launched or non-coin projects, such as the Lightning Network.

The report also points out that “many projects who [sic] are being abandoned by developers are forks of high network value coins.” For instance, Dogecoin (DOGE) hasn’t had developers for months while the Litecoin (LTC) developer base has fallen from 40 developers per month to just three over the last year.

The report also notes that both Bitcoin Diamond (BCD) and Bitcoin Gold (BTG) have had code contributions from under five developers since October 2018.

As Cointelegraph recently reported, Ethereum co-founder Vitalik Buterin has stated he was trying to solve Bitcoin’s limited functionality with the creation of Ethereum.

On the other hand, Twitter and Square CEO Jack Dorsey alluded to spending $10,000 per week on Bitcoin during a recent podcast.

Posted on

Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Bitcoin SV, TRON, Cardano: Price Analysis, Dec. 31

It is the last day of a very tough year for crypto traders. While 2018 started on an upbeat note, it is ending with uncertainty.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

It is the last day of a very tough year for crypto traders. While 2018 started on an upbeat note, it is ending with uncertainty. Traders and analysts are divided on whether cryptocurrencies have bottomed out. This, in a way, is good, because markets are cautious and excesses have been removed.

There are a number of events in 2019 that could turn crypto markets around. All eyes will be on institutional investors because their involvement is needed to propel markets to the next level. Even in the wake of a crushing bear market, crypto traders are looking to invest in virtual currencies. 40 percent of participants in a  recent Chinese survey showed interest in investing in cryptocurrencies in the future. Similar surveys in the United States, Germany and the United Kingdom have all projected favorable demand for cryptocurrencies.

We are bullish on digital currencies for 2019, however, we believe that it will be a gradual move higher and expectations should be muted. Trade safe so that we are around to reap the benefits when the next vertical run happens. Are there any tradeable setups at current levels? Let’s find out.  

BTC/USD

Bitcoin is struggling to breakout of the 20-day EMA that has turned flat. Failure to break out will attract selling that will pick up momentum below $3,598.99. The downtrend will resume on a breakdown of the Dec. 15 low. The falling 50-day SMA confirms that the long-term trend is still down.

BTC/USDThe BTC/USD pair will show signs of a probable reversal if it breaks out of the neckline of the developing inverse head and shoulders pattern. The 50-day SMA and the horizontal resistance at $4,255 are all located close by. This makes it a critical level to watch on the upside.

The breakout of the neckline has a pattern target of $5,500. Though there is a minor resistance at $4,914.11, we expect it to be crossed. Short-term traders can wait for a close above $4,255 to buy. The stops can be kept just below $3,550.

XRP/USD

Ripple is facing a stiff resistance at the 50-day SMA. If the bulls fail to scale above this resistance quickly, a drop to $0.33108 is probable.

XRP/USDThe XRP/USD pair will weaken below $0.33108 and can plunge to the next support at $0.286. If this support also breaks, a retest of $0.24508 will be in the cards.

Both the moving averages are flattening out, which points to a likely consolidation in the near-term. The digital currency will turn positive in the short-term if the price sustains above $0.40. Such a move can result in a rally to the resistance line of the descending channel at about $0.48.

We can expect a new uptrend if the bulls breakout and close (UTC time frame) above the channel. In such a case, the rally can extend to $0.56, $0.62 and $0.7644.

ETH/USD

The pullback in Ethereum stalled at $153 on Dec. 29 while managing to stay above $136 for the past two days.

ETH/USDBoth the moving averages are on the verge of a bullish crossover, which suggests that the short-term trend is changing. We expect the bulls to again attempt to break out of $167.32.

Contrary to our expectation, if the ETH/USD pair turns down from the current levels and drops below $116.3, it can fall to $100 and below that to $83. We suggest traders wait for a new buy setup to form before buying it.

BCH/USD

Bitcoin Cash is trading inside a descending channel. Currently, the bulls are attempting to keep the price above the 20-day EMA.

BCH/USDA quick breakout of the channel will turn it into a bullish flag, which has a pattern target of $355, with a minor resistance at $307.1. Short-term traders can benefit from this move by being on the long side of the markets.

However, if the bears fail to breakout of the channel and the 50-day SMA, the BCH/USD pair can again turn down to the bottom of the channel. A break below the channel can lead to a drop to the low at $73.50.

EOS/USD

The bulls have not been able to carry EOS much above the 20-day EMA. This shows a lack of buyers at higher levels. The 20-day EMA is more or less flat and the RSI is close to 50. This increases the probability of a consolidation in the near-term.

EOS/USDA break of the $2.3093–$2.1733 support zone will sink the  EOS/USD pair to the low of $1.55. A break of the lows will resume the downtrend. On the upside, a breakout and close above the 50-day SMA will be a positive development that can result in a rally to $3.8723. Currently, we do not see any reliable buy setups, hence, we are not suggesting a trade in it.

XLM/USD

The bulls are struggling to push Stellar above the 20-day EMA. The 50-day SMA is turning down, which confirms the long-term downtrend. In the short-term, the RSI has fallen back below 50 and the 20-day SMA is flat, which suggests a probable consolidation. However, if the price slides below $0.11024826, it can retest the lows.  

XLM/USDOn the upside, a break above the 20-day EMA will again face resistance at $0.13427050. The XLM/USD pair will show signs of a possible reversal on a breakout and close above $0.13427050. However, it has been an underperformer, hence, we shall wait for a new uptrend to start before suggesting a trade in it.

LTC/USD

The recovery in Litecoin is facing a stiff resistance at the 50-day SMA. The bulls have not been able to sustain above it since Nov. 6, so a breakout and close above the 50-day SMA will signal strength.

LTC/USDThe bullish inverse head and shoulders pattern will complete on a breakout of $36.428. The pattern target of a breakout of the neckline is $49.756. Therefore, traders can initiate long positions on a close (UTC time frame) above $36.428. As the long-term trend is still down, traders can maintain a position size of only about 40 percent of usual.

If the LTC/USD pair turns down from current levels, it can slip back to $28.067 and if this support breaks, a retest of the lows is probable. The downtrend will resume on a break below $23.10.

BSV/USD

The bulls attempted to rebound from close to the bottom of the range on Dec. 28 but the pullback fizzled near $100.

BSV/USDCurrently, the bears are attempting to break down of the range. If successful, the BSV/USD pair can dip to $65.031 and if this support also breaks, the fall can extend to $38.528.

However, if the bulls defend the bottom of the range, the digital currency might remain range bound for a few more days. We shall turn positive above $123.98 or on a strong rebound from $80.352. Until then, we suggest traders remain on the sidelines.

TRX/USD

TRON is finding support at $0.0183 and is facing resistance at $0.022. A breakout of $0.022 can result in a rally to $0.0246 and above it to $0.02815521.

TRX/USDWe have been positive on the TRX/USD pair for the past few days because it has bounced sharply from the lows and has sustained the higher levels. The bullish crossover of the moving averages also suggests that the bulls are in command.

Our positive view will be invalidated if the support at $0.0183 breaks. Therefore, traders who went long closer to $0.02, on our recommendation, should keep a stop just below $0.018. Below $0.0183, the digital currency can slide to $0.016 and $0.014.

ADA/USD

Cardano has stayed above the 20-day EMA for the past three days. The 20-day EMA is gradually turning up and the RSI is in positive territory, which shows a marginal advantage to the bulls.

ADA/USDThe bulls are currently trying to break out of the neckline of the inverse head and shoulders pattern. If successful, the cryptocurrency can rally to the pattern target of $0.066. There is a minor resistance at $0.060105, but we expect this level to be crossed.

Conversely, if the ADA/USD pair turns down from current levels and breaks below $0.036815, it can retest the lows. We expect a decisive move within the next 3–4 days.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

Posted on

Crypto Markets Teeter on New Year’s Eve, With Mostly Losses Across the Board

On the cusp of the new year, most of the top 20 cryptocurrencies by market cap are in the red, with losses capped below 6 percent.

Monday, Dec. 31 — on the cusp of the new year, all but one of the top 20 cryptocurrencies by market cap are in the red, as data from Coin360 shows. Losses among the larger cryptos are tempered, with most losing 2-3 percent, and losses capped at 6 percent.

Market visualization by Coin360

Market visualization by Coin360

Bitcoin (BTC) has seen a mild loss of around 2 percent over the 24 hours to press time, currently trading at $3,816. The closing week of 2018 has been a volatile one, with Bitcoin breaking above $4,200 Dec. 24, before sustaining several days of losses to trade close to the $3,600 mark Dec. 28. Throughout much of the week, the coin has mostly traded sideways in the $3,800-$4,000 range.

After the week’s shaky performance, Bitcoin is now 6 percent down on its 7-day chart: losses on the month are around 11 percent. On the year, Bitcoin is down 72 percent — having traded around $13,400 on Dec. 31, 2017.

Bitcoin 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index

Bitcoin 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index

Ripple (XRP) —  the second largest crypto by market cap — is down a similarly mild 2 percent on the day, and is trading at around $0.36 to press time. The asset’s 7-day trading pattern has been closely correlated with that of Bitcoin’s — peaking at as high as $0.44 Dec. 24, and reaching an intra-week low of $0.34 on Dec. 28.

Ripple’s typical trading range over much of the week has been $0.36-$0.38; today’s renewed losses have brought the asset to just shy of 2 percent lower than its value at the start of its 7-day chart. Monthly losses are at a fairly mild 4.5 percent. On the year, Ripple is down close to 85 percent.

Ripple 7-day price chart. Source: Cointelegraph’s Ripple Price Index

Ripple 7-day price chart. Source: Cointelegraph’s Ripple Price Index

Ethereum (ETH) — ranked third by market cap — is down under 1 percent on the day and trading at $138 at press time. Following an intra-week high of over $156 Dec. 24, the altcoin has dipped below $115 on Dec. 28, but saw a second flush of positive momentum over subsequent days — inching back close to $150 on Dec. 29.

Ethereum is around 10 percent in the red on its 7-day chart as of press time. The coin has seen growth on the month, with a 23 percent gain. On the year, Ethereum is down close to 82 percent.

Ethereum 7-day price chart. Source: Cointelegraph’s Ethereum Price Index

Ethereum 7-day price chart. Source: Cointelegraph’s Ethereum Price Index

Among the remaining top twenty coins on CoinMarketCap, NEM (XEM) has sustained the highest losses on the day — down close to 6 percent at press time. EOS (EOS) and recently forked Bitcoin SV (BSV) are both down around 3 percent on the day to press time. Litecoin (LTC) is also pushing a 3 percent loss as of press time, while Cardano (ADA) is seeing almost 4 percent daily losses.

An outlier among the top twenty is Binance crypto exchange’s native token Binance Coin (BNB) — the only top coin in the green as of press time — which is up 3.46 percent to trade at $6.15.

Total market capitalization of all cryptocurrencies is at around $127.7 billion as of press time, down from an intraweek high of over $146.3 billion on Dec. 24. As compared with one year ago, total crypto market cap is down about 78 percent.

1-year chart of total market capitalization of all cryptocurrencies. Source: CoinMarketCap