Crypto Market Drops To Red After A Bull Feint, Top 100 Struggling To Keep Recent Gains

The crypto recovery yesterday hit a snag and the market has turned bloody red. The majority of the crypto-board is losing 5- 10%. The fall has sent the assets on their initial support lines and the battle is still raging at the time of this writing.

 

The market capitalization has lost $10 Billion and is currently at $172 Billion. The trading volume is up to $59 Billion but the volume is on the other end. The Bitcoin dominance is once again going up at 52.0%.

 

Bitcoin is currently correcting at the $5K range. It has lost -3.04% on the day and is trading at $5091 at the time of this writing. In the past week, Bitcoin has been climbing consistently but it was rejected at $5400 and dropped from there. The support is currently at $5050 and crossing that, the second support level is at $4600.

 

Ethereum, the 2nd biggest coin, is, of course, following the market with a big dump of -7.87%. From a peak of $185 a few days ago, it has fallen to $165.95 and it’s market cap is now at $17.5 Billion from yesterday’s $19 Billion. Despite the fall, the coin is still ahead from its price a week ago. XRP has lost a significant -6.34% as well and is currently trading at $0.333. Below this price, the nearest support is at $0.328.

 

 

The Top 10 are all experiencing an excruciating correction after a false positive yesterday. Litecoin is the biggest loser with a -10.43% loss on the day bringing its price down to $78.74. Bitcoin Cash follows with a loss of -9.24% and the resulting price at $272.96. The rest are closely following with 4-6% loss on the day.

 

The pain is not far behind for the Top 25 except for the return of Crypto.com Chain on its ranks after a donation stunt with Binance. It has gained 22.75% on the day and is back to the 23rd spot on the market cap list. Meanwhile, the heaviest loser is Ontology with a -12.80% loss, to trade at $1.33.TRON is down -11.38%. NEO and Ethereum Classic are both down 10% on the day.

Down the Top 100, a new coin has popped in the pump list. Lambda sings with a Lambda 58.45% gain on the day. There’s not much else going on except more reds on the list. Led by IOST and NULS with losses of 15% both, majority of the coins are heavily dumping with double-digit losses.

 

 

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