Cryptocurrency Market Update: Ethereum listless amid broad-based lacklustre performance
|- Cryptocurrencies in a consolidative mode amid thin liquidity.
- Ripple outshines Bitcoin and Ethereum on Saturday.
- Will the bulls extend control after last week’s crypto slump?
Widely-traded coins’ price overview
- Bitcoin (BTC/USD) trades listless, within a tight range just below the $9100 mark on Saturday, as the US Independence Day holiday break offers a little incentive to the traders. According to the Technical Confluence Detector tool, the No. 1 coin is likely to extend its range play, as it remains trapped between two key barriers. The most favorite digital asset was last seen trading around $9080, enjoying a market capitalization of $167.19 billion. Bitcoin is set to end the week lower by 1%.
- Ethereum (ETH/USD), the No. 2 most traded crypto coin, with a current market capitalization of $25.21 billion, is trying hard to extend its recovery mode after Thursday’s drop to $223 levels. Sellers, however, continue to lurk below $227, limiting the upside attempts. The spot wavers in a $2 range, holding up above the $226 level while adding about 0.50%, at the press time.
- Ripple (XRP/USD) outperforms its peers, Bitcoin and Ethereum, as a consolidation phase persists across the crypto board this Saturday. The bulls continue to face stiff rejection near $0.1790 levels while the downside remains cushioned at $0.1760. The No. 3 coin is likely to maintain a neutral to bearish outlook so long as it trades below the 21-day Simple Moving Average (DMA) of $0.1835. The coin is set to book about 2.50% weekly loss.
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