The four highest cap cryptos, Bitcoin(-0.03%), Ethereum (-0.07%), Ripple (-0.26%), and Litecoin(- 0-02%) are still held in a range by sellers. Meanwhile, buyers began focusing on other coins such as ALGO (+7.84%), VeChain (+16%), Cosmos (ATOM, +3.22%), and NEO (+4.44%).
On the Ethereum token sector, the best performers are Aurora (+23.45%), followed by Jewel (+18.7%), Synthetic Networks (+5.92), and Centrality (+4.8%).
The market capitalization of the crypto sector is almost unchanged at $239.5 Billion, with a decreased 24H traded volume of $28.3 Billion (-2.49%), while the dominance of Bitcoin is 65.91%.
Royal Bank of Canada (RBC) is said to be developing a cryptocurrency exchange and permitting cryptocurrency accounts for its users. The platform would allow its users buying, selling, and transfer funds in several cryptocurrencies, including Bitcoin and Ethereum.
Ontario-based Blockchain company Blockchain Venture Capital Inc has announced the launch of a USD-pegged stablecoin CUSD. The company states that this stable coin will improve the exchange of merchandise across the borders of Canada and the US.
Bitcoin seems to be moving in a range between its 200-period SMA and its 50-period SMA. Currently, it is forming a bottom and heading to test the $8,800 resistance.
The volume is thin, so these moves are marked by sellers fading at the minor tops and buyers fishing at significant bottoms. The crossing of the $8,800 level might start creating interest and increase the traded volume. A breach of the $8,660 level would trigger a new downward leg to $8,300.
Ripple continues in its downtrend, making new lower lows. The price moves in its -1SD Bollinger line, which also points down. We see the price below $0.275 and with its bear candlesticks with high volume. Unless there is an overall trend in the crypto market, we see this token continue descending to 0.266 and below. Another bad sign is the 50-period SMA crossing under the 200- period SMA. We can see that currently, the price is below both averages, and even below the 20- period SMA, that is the central line of the Bollinger Bands.
Ethereym continues moving as yesterday. $184 seems to be the closest price support. The price moves near the Bollinger band mean line and in the middle of a range between $180 and $193. We see the volume of green candles is larger than the on red candles. Therefore ETH behaves slightly bullish. $188 and $184 are the key levels to watch.
Litecoin is moving similarly to Ethreum, making higher lows and its moving averages pointing up. Currently, the price action seems constrained in the middle of the horizontal range between $60 and $64.4. As seen yesterday, $64.4 appears to be a level marked by sellers to dump their position and, therefore, a strong resistance level. That limited upside may harm the short-term outlook of this coin. We should observe the $61.36 level for signs of more weakness.
Risk Warning: CFD and Spot Forex trading both come with a high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any payment from you. Given the possibility of losing more than your entire investment, speculation in certain investments should only be conducted with risk capital funds that if lost will not significantly affect your personal or institution’s financial well-being. Before deciding to trade the products offered by us, you should carefully consider your objectives, financial situation, needs and level of experience. You should also be aware of all the risks associated with trading on margin.