Cryptocurrency market lulls traders into complacency
|- Bitcoin is capped by the short-term resistance of $9,600
- Binance Coin (BNB) is the worst-performing altcoin with over 2.5% of losses.
Bitcoin and all major altcoins have stayed unchanged for the most part of the weekend. Low trading activity amid decreasing volatility has left the market locked in a narrow range; however, the situation may change ahead of the global markets opening on Monday.
The total market capitalization stays at $248 billion, while an average daily trading volume decreased to $40 billion; Bitcoin's market dominance remained unchanged at $69.2%.
Top-3 coins price overview
BTC/USD is trading at $9,585, unchanged both on a day-on-day basis and since the beginning of the day. The first digital asset has barely changed since August 30 as trading activity on the marker is non-existant. The critical support awaits the coin on approach to $9,300, while the upside seems to be limited by $9,600.
Ethereum, the second-largest digital asset with the current market capitalization of $18.3 billion. ETH/USD is changing hands at $169.30 after a failed attempt to settle above $173.00. The coin outperformed the market during late Saturday hours, however, the upside momentum proved to be short-lived as the price retreated below $170.00 handle.
Ripple's XRP is glued to $0.2550 with strong support at $0.2500. The upper boundary of the recent channel is created by $0.2600. The third-largest coin touched $0.2600 handle during latte Saturday hours and retreated to $0.2550 by the time of writing.
The biggest altcoin market-movers
Binance Coin is the biggest loser of the day. The coin has lost nearly 2.5% in recent 24 hours to trade at $21.48.
Notably, a cryptocurrency rating service CoinMarketCap changes its methodology as of September 2. This may lead to massive changes in cryptocurrency ratings.
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