Cryptocurrency market update: $2 billion dumped – Bitcoin, Ethereum and Ripple battle key hurdles

Cryptocurrencies are back in the green following a slight correction from the lows traded yesterday. Most digital assets among the top twenty are recording gains between $0.3 – 2%. NEO is the biggest single digit gainer after correcting higher 1.88%. It is followed by Dash (DASH) and Bitcoin Gold (BTG) at 1.09% and 1.16% in that order.

According to the data on CoinMarketCap, the failed breakout on Wednesday resulted in a loss of $2 billion from $143 billion to the current $141 billion. Bitcoin’s dominance in the market continues to take a hit. At the moment it stands at 50.2%. Altcoins seem to be championing their own direction away from Bitcoin price action.

Bitcoin price overview

BTC/USD is seen trending higher 1.26% on the day. The largest crypto opened the day’s trading at $4,012.49 and has formed an intraday high at $4,076. Bitcoin trading at $4,073 is supported by the 50 SMA and the 100 SMA 15’ currently at $4,020 and $4,014.62 respectively. According to the RSI and the MACD, the bulls still have the potential to push for higher correction. The next target is at $4,100 but hitting $4,200 could see BTC/USD embark on a journey to $4,500.

Ethereum and Ripple price overview

Ethereum is also making movement upwards after zooming above $140. It has increased by 2.17% on Friday and is trading at $142.16. On the other hand, Ripple is trending 1.02% upwards after opening the session today at $0.3075.