Tanya Abrosimova
Independent Analyst
- The market resumed the decline, but the key support levels remain unbroken.
- BTC/USD stopped within a whisker of $9,000; ETH holds above $200.00.
The cryptocurrency market is under resumed selling pressure on Sunday. Bitcoin and major altcoins failed to regain ground above local resistance levels and retreated back inside the ranges. The capitalization of all digital assets in circulation reached $255 billion. The average daily trading volume is $92 billion
Top-3 cryptocurrencies price updates
Bitcoin (BTC) stopped within a whisker of psychological $9,000 on Sunday. While the coin managed to recover to $9,060 by press time, the upside momentum remains weak. BTC/USD has lost 1.2% since the beginning of the day and stayed mostly unchanged on a day-to-day basis. In recent days, the coin has been oscillating in a range limited by $9,000 on the downside and $9,300 on the upside. A sustainable move in either direction will define the short-term trend.
Ethereum attempted to recover above $210.00 on Sunday but quickly retreated to $205.50 by the time of writing. The second-largest digital asset needs to regain ground above $210.00 to improve the short-term technical picture and allow for a sustainable move towards $215.00, which is the upper boundary of the previous consolidation channel. The critical support is created by $200.00
XRP/USD attempted a recovery above $0.2000, but failed to hold the ground. The coin is changing hands at $0.1970 amid growing bearish sentiments. The next support comes at $0.1930.
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
Crypto traders brace for short-term volatility with $2.4 billion options expiry on Friday
Bitcoin and Ethereum options market looks bullish on Friday, according to data from intelligence tracker Greeks.live. The firm said it has identified two Bitcoin calls that show an underlying bullish sentiment among market participants.
XRP recovers from week-long decline following Ripple’s response to SEC motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
Lido adds 4% gains as protocol rolls out first step towards decentralization
Lido takes the first batch of simple DVT validators to live, a step taken to decentralize the protocol. Lido leveraged technology to expand the protocol to multiple node operators, inviting both solo and community stakers.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Bitcoin: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.