Crypto Market Stable And Consolidating, Binance Coin Reaching For Higher Grounds

The crypto markets were static over the weekend and the major assets were frozen with minimal gain or loss for the past 24 hours. The crypto board is a mix of reds and greens after a brief recovery yesterday.


The market capitalization remains at $172 Billion, continuing the market consolidation this Sunday. The daily volume, though, continues to drop and has now pulled back to $35 Billion, $6 Billion less than yesterday. The Bitcoin dominance continues to be locked at 52% and has not moved up or down during the past 2 days.


The Bitcoin remains stuck below $5100 yet continues to protect the gains above $5K and continues to be in an uptrend. It has recently recovered from the $5050 level and currently trades at $5084 with a bias for range trading in the short-term as it faces a strong resistance on the $5130. On the downside, a drop to nearest support $4950 may be possible before buyers can decide where to push the first coin.



Ethereum is getting weaker as it waits for the first coin and is still moving below $165. It is currently trading at $163.73 with a loss of -0.33% on the day. Without the support of Bitcoin, it is possible that it could see another downside push to as low as $155 to move into a short term bearish zone. XRP is also still at the same level as yesterday -trading at $0.32 with a loss of -0.47% on the day.



The rest of the Top 10 makes a small move upwards after a full day of red. Binance Coin still leads the Top 10 with another 4.94% gain on the day, bringing its price to $19.25 from yesterday’s $18.41. The cryptocurrency has seen a 26% increase over the past 30 days. Bitcoin Cash still has its gains from yesterday, but only just, as it trades at $278.88 with a gain of 0.77%. Cardano is the biggest loser with a -2.02% drop to trade at $0.082 while the rest are under half percentage of loss.


The Top 25 is a mix of reds and greens today as some coin show persistence in fighting the bears. The momentum is once again ripe for Chain with a 14.49% gain and back to the 23rd spot on the market cap list. Basic Attention Token continues to be positive, as well, with a 5.61% gain. Tezos also gained 4.60% today to trade at $1.01. The rest are negative with IOTA as the biggest loser, taking its price down to $0.30 and a loss of -3.74% on the day.


Down the Top 100, Maximine Coin pumps again with a 19.75% after a usual dump. Enjin Coin is gathering itself up once again to add 11.69% gains today. There are no double-digit dumps happening at the moment as most have already happened during the early Asian trading session, stripping TrueChain of its gains from its recent pump. The rest are either earning or losing marginally at the moment.


Source link

Leave a Reply

Close Panel