Cryptocurrency market update: Cryptos are in weekend tailspin as Bitcoin eyes $ 11k, Ripple looks to $ 0.3180

  • Crypto markets see no weekend love, a sea of red persists.
  • Ripple weakest among top 4 widely traded cryptocurrencies.

Top 4 coins’ price overview

  • Bitcoin (BTC/USD) returned to the negative territory on Saturday, reversing a part of Friday’s rebound, in the wake of a rising wedge breakdown on the hourly chart. The prices faded a tepid bounce below the 200-hourly Simple moving average (HMA), as widely expected. The bears regained control to now test the next horizontal support near 11,100 levels while Friday’s low of 10,968 returns on the sellers’ radar. The most widely traded cryptocurrency lost over 1% over the last 24 hours, with its market capitalization standing at $205.54 billion.
  • Ethereum, the second-largest digital asset with the current market capitalization of $29.02 billion, also follows suit and remains heavy, as the sellers now look to test the Friday’s low of 262, below which the 260 mark will come into play. The coin is down -2.45% over the last 24 hours, with no reprieve seen in the near-term.
  • Ripple (XRP) got sold into the crypto selling-wave and wiped-off nearly 4% of its value to reach daily lows of 0.3299 following a symmetrical triangle breakdown spotted on the hourly chart earlier today. The third-largest coin now trades around 0.3320 levels, with bears now eyeing a test of the next support near 0.3180 region. The current market capitalization of the coin is seen at $14.15 billion.
  • Litecoin (LTC/USD): The bears are on its way to the 100 support, as the fourth most widely traded cryptocurrency breached the 50% Fibonacci Retracement (Fib) of the latest recovery at 101.16. Over the last hour, the digital currency has accelerated the declines (-4%), having met stiff resistances ahead of the 103 handle.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300. A shall green candle on a weekly chart is a promising signal, though the market is still gripped with uncertainty at this stage. 

More Bitcoin News

XRP/USD drops below $0.2000 after a failure at $0.2030

XRP/USD tested the intraday high at $0.2031, but the strong resistance located around this area discouraged the short-term bulls and pushed XRP/USD below $0.2000 by press time.

More Ripple News

ETH/USD breaks out into the $220 zone, will it be $230 or $210 next?

Ethereum price followed in the footsteps of the largest cryptocurrency by market capitalization, Bitcoin. BTC sprung upwards and for the first time in seven days, stepped above $9,600.

More Ethereum News

EOS/USD slumps below 4-hour SMA200, focus on $2.54

EOS/USD attempted a recovery above 4-hour SMA200 (currently at $2.65) and touched the intraday high at $2.67. However, the upside momentum proved unsustainable as the price of the digital asset dropped to $2.62

More EOS News


Bitcoin Weekly Forecast: BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300.

Read the weekly forecast