Bitcoin and major altcoins are rangebound. Calm before storm?

  • Bitcoin stays above $4,200, looks like the worst is over.
  • Altcoins are mixed with Zcash the biggest winner.

The cryptocurrency market has stabilized after a short-lived recovery. The top-20 coins are mixed, though it is clear that the upside momentum has faded way for the time being. The total capitalization of digital assets in circulation increased to $137B from $135 this time on Thursday.

Bitcoin, the largest and the most popular cryptocurrency, has gained about 3% in recent 24 hours to trade at $4,269 by the time of writing. The coin is staying in a narrow range amid low trading activity.

Ripple's XRP is hovering at $0.3810, unchanged both on a daily basis and since the beginning of Friday. The second largest digital asset with market value $15.3B stalled on approach to $0.40 handle, amid lack of bullish catalysts that might have pushed it higher. 

Ethereum is changing hands at $118.9 at the time of writing, off the Asian high of $119.77. ETH needs to clear $120 handle to improve the short-term technical picture, however, the upside momentum is nowhere to be seen as of yet.

ZCash is the biggest winner today. The coin has gained over 12% since this time on Thursday to trade at $88.71 at press time. Now it takes the 19th place in cryptocurrency rating.

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