Tanya Abrosimova
Independent Analyst
- All major coins are rangebound with a bearish bias on Wednesday.
- DASH is the best-performer with 16% gains on a daily basis.
The cryptocurrency market has resumed the sell-off. While Bitcoin and all major altcoins are still within the recent ranges, the overall sentiments have already turned bearish. The total market capitalization has reached $148 billion. The average daily trading volumes settled at $114 billion. Bitcoin's market share is 63.2%.
Top-3 coins price overview:
Bitcoin is hovering around $5,100 amid growing bearish pressure. The coin is down nearly 3% on a day-to-day basis, while a sustainable move below SMA50 1-hour makes it vulnerable to further losses. If $5,000 is broken, the sell-off will gain pace.
Ethereum retreated from the intraday high above $118.00 to trade at $110.20 at the time of writing. The second-largest virtual coin has lost over 4% since the beginning of the day as the downside momentum is gaining traction. ETH is moving in sync with Bitcoin.
Ripple's XRP is hovering around $0.1400 on Wednesday after a failed attempt to break above $0.1500 during early Asian hours. The third-largest coin has lost 2.5% in recent 24 hours and 4% since the beginning of the day.
The biggest market-movers:
Chainlink (LINK) is the worst-performing coin out of top-20. It has lost over 5% on a day-to-day basis, following a massive sell-off on Tuesday. DASH is the growth leader. The coin has gained 6% despite the major sell-of on the market.
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