- Cryptocurrency market resumed the sell-off late on Tuesday.
- All major coins are in red on daily basis.
Cryptocurrency market shed another $15B late on Tuesday as the sell-off resumed after a short period of consolidation. NEO and IOTA appeared to be worst performers with EOS and Tron not far behind. Fundamentally, there were both positive and negative events, but investors chose to treat the glass as half empty.
Bitcoin lived through another bearish day, trading below $6,500 handle for the first time since the end of March. At the time of writing the digital coin No. 1 is at $6,562, down nearly 5% in the last 24 hours. Trading volume settled at $4.5B with BTC/JPY representing a 57.7% share.
Ethereum price explored the area below $500, losing 5.8% over the recent 24 hours. Currently, ETH/USD is trading at $500 handle, having recovered from Tuesday's low registered at $483. Nearly $1.9B worth of Ether changed hands in the past 24 hours with ETH/BTC representing 33.6% share of total daily trading volume.
Ripple has lost 5.7% since this time yesterday, trading at $0.5576 at the time of writing. XRP/BTC and XRP/USDT are among the most active combinations, representing over 50% of the total trading volume.
Ethereum Classic was a star performer early on Tuesday, supported by the news that Coinbase decided to add it to the list of tradable instruments. The coin spiked as much as 25% but failed to keep ground. ETC is down 5% on daily basis, trading at $14.6 at the time of writing.
ETC/USD, the daily chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Ripple's move above this key level could trigger nearly 50% rally for XRP
Ripple has overcome a critical resistance level and flipped into a support floor on the weekly time frame. This development happened while XRP tightly consolidated for roughly 250 days. Investors can expect XRP to kickstart a massive rally.
Optimism price outlook with nearly $90 million worth of OP tokens flooding markets on Friday
Optimism volatility has shrunk in the ours leading to the network’s cliff unlock. It joins the likes of dYdX and Sui, which have similar events on their calendars. As token unlocks are often considered bearish catalysts, investors should brace for a reaction after the event.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Retail watches from the sidelines with a bias for shorts
Bitcoin could clear $73,777 peak as BTC bulls resurface. Ethereum might fall 10% before next leg up as ETH RSI teases with sell signal. XRP could lose $0.6000 threshold as Ripple bulls fail to show up.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito price action shows a potential cup and handle formation. Based on theoretical measurement rules, a successful breakout could yield a 56% rally to $6.0. A breakdown of the $3.86 support level would create a lower low for JTO and invalidate the bullish thesis.
Bitcoin: BTC may have recovered, but is it out of the woods?
Bitcoin’s (BTC) upward momentum has shown a significant decline for the past two weeks or so. This development led to a bearish signal on the weekly and an uncertain outlook on the monthly.