Monday Market Trending Down, Crypto Top 100 Face Further Declines

It has been a relatively calm weekend and this Monday is not any different. The Asian trading
session has been uneventful with no sudden movements in the charts. The crypto board though is a little worrying as it is still more red than green.

 

The market capitalization held at $114 Billion but is steadily declining since Saturday. The trade volume is still hanging at $115 Billion. Bitcoin dominance is up a couple of points at 53.4%.

 

The Bitcoin is having a hard time with any sort of movement and is locked either way at level $3476. At capitalization of $60.9 Billion, it has lost a marginal -0.10% on the day. The trading volume has slipped down at a flat $5 Billion. It’s still anybody’s game and the market waits with bated breath. If the weekend is taken into consideration, the pressure is stronger with a push downwards. A couple of attempts to break the $3500 consistently failed to gain strength above $3480. The support at $3440 was broken before it corrected to its current price. Will it be a meltdown towards $3100 or recovery to above $3500? We can only wait. 

 

 

Meanwhile, Ethereum remained strong at $108 despite failing to maintain momentum above $110. It has reached as high as $111.79 this weekend before drifting down with other altcoins. Recovery has been capped and the weekend was devoted to consolidating. Currently, it is trading at $108.13 with a minimal -0.62% loss. XRP is still hovering above $0.30, which has remained unchanged since this time on Sunday. At 12.4 Billion capitalization, it’s still a Billion more than Ethereum’s.

 

 

The rest of the Top 10 is on a deeper red today with only EOS on a minimal green. EOS has failed to push further growth above $2.45 and is now correcting at $2.40. The rest are at 0-1% loss with Bitcoin SV feeling the bite at a -1.28% loss on the day with its trading price at $63.69. At the 10th position on the Coinmarketcap, Bitcoin SV is now holding $1.1 Billion.

 

The Top 25 is not far behind with the same reds in place. Only 2 digital assets gained some traction today. Maker is trading at $378.95 with a 2.77% gain on the day. Binance Coin is still able to gain some green at 1.00%. Most of the others are at 0-2% loss with NEM being the exception at -3.79% loss on the day. The news that the NEM foundation may be on the verge of bankruptcy is severely affecting its day performance.

 

Down the Top 100, it is curiously quiet with hardly a pump nor a dump. Only Theta has gained a bit more than the rest at only 6.13%. On the other end, Aurora has lost -8.99% on the day.

 

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