Cryptocurrency Market Update: Ethereum listless amid broad-based lacklustre performance
- Cryptocurrencies in a consolidative mode amid thin liquidity.
- Ripple outshines Bitcoin and Ethereum on Saturday.
- Will the bulls extend control after last week’s crypto slump?
Widely-traded coins’ price overview
- Bitcoin (BTC/USD) trades listless, within a tight range just below the $9100 mark on Saturday, as the US Independence Day holiday break offers a little incentive to the traders. According to the Technical Confluence Detector tool, the No. 1 coin is likely to extend its range play, as it remains trapped between two key barriers. The most favorite digital asset was last seen trading around $9080, enjoying a market capitalization of $167.19 billion. Bitcoin is set to end the week lower by 1%.
- Ethereum (ETH/USD), the No. 2 most traded crypto coin, with a current market capitalization of $25.21 billion, is trying hard to extend its recovery mode after Thursday’s drop to $223 levels. Sellers, however, continue to lurk below $227, limiting the upside attempts. The spot wavers in a $2 range, holding up above the $226 level while adding about 0.50%, at the press time.
- Ripple (XRP/USD) outperforms its peers, Bitcoin and Ethereum, as a consolidation phase persists across the crypto board this Saturday. The bulls continue to face stiff rejection near $0.1790 levels while the downside remains cushioned at $0.1760. The No. 3 coin is likely to maintain a neutral to bearish outlook so long as it trades below the 21-day Simple Moving Average (DMA) of $0.1835. The coin is set to book about 2.50% weekly loss.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
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