Tanya Abrosimova
Independent Analyst
- Digital assets market calmed down after a strong recovery
- Positive momentum is weakening as we approach resistance levels
Cryptocurrency market volatility settled down after stormy Tuesday that saw strong recovery across the board. All major coins are green through the upside momentum is losing traction as prices approach local resistance levels. The total value of all cryptocurrencies has grown by $30B in recent 24 hours, moving away Tuesday's low.
Bitcoin is changing hands at $7,493, back above the upside trend line. BTC/USD is unchanged since the start of the day, however, the price gained over 5.5% higher since this time yesterday, taking Bitcoin's market value to $128.5B.
Ethereum is trading at $570, marginally higher on the day. The second largest coin was among the winners on Tuesday, gaining nearly 10% in recent 24 hours. The critical support at $500.00 remains untouched, though the recovery is losing traction as ETH/USD approaches $600.00.
Ripple follows the same pattern with marginal gains on the day and hefty growth on a day-to-day basis. XRP/USD is trading at $0.6073, off Tuesday's lows at $0.5432.
BTC/USD, the hourly chart
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