Crypto Market Overview: Consolidation begins before the next breakout

BTC/USD fell below $8,000.
NEO/USD was the biggest winner among the top 20.

Rajarshi Mitra Independent Analyst

The cryptocurrency market as a whole has had a bearish day this Monday. The top three coins, in particular, are consolidating their prices around crucial price levels before the next breakout. Let’s take a closer look at the top three and the biggest winners and losers among the top 20.

Top Three Coins

Bitcoin: BTC/USD’s price went down from $8,200 to $7,990 this Monday. The bulls failed to breach the critical $8,400. The price is consolidating now as the bulls gather enough momentum to make another assault.
Ethereum: ETH/USD went down from $260.50 to $253.25 this Monday. The bulls need to gather momentum to breach the $275 level.
Ripple: XRP/USD bulls failed to keep the price above $0.40 level as it went down from $0.42 to $0.39.

Biggest Winners and Losers

Neo (NEO) went up from $11.70 to $12.20, charting a 4.27% increase in price.
Tezos (XTZ) is priced at $1.68, charting a 6.83% decrease in price.
Ethereum Classic (ETC) went down from $7.81 to $7.42, charting a 5% decrease in price.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.