Cryptocurrency market update: Majors see mixed trading action on Sunday


  • Subdued trading action in cryptosphere extends into second straight day.
  • Ripple seems to be the only major cryptocurrency posting decent gains.

Following Saturday's choppy market action, major cryptocurrencies stay calm on Sunday in the absence of any significant fundamental drivers or surprising developments surrounding the industry. The total market capitalization of all cryptocurrencies, which rose to $330 billion on Saturday, was $321 billion, according to the latest available data on coinmarketcap.com.

Top-3 coins price overview

Bitcoin (BTC/USD) struggled to gather enough strength to test the $12,000 handle on Saturday and closed the day with a gain of 2.2%. On Sunday, the pair is fluctuating in an extremely tight range and was last seen trading at $11,250, where it was virtually unchanged on a daily basis. Critical near-term technical levels for the pair could be seen at $11,500 (Fibo 38.2% retracement of June rally) and $12,000 (Jul. 3/Jul. 4 high)  on the upside, $10,750 (Fibo 50% retracement of June rally) and $10,000 (psychological level) on the downside.

After inching closer to the critical $300 mark, Ethereum (ETH/USD) finished the day virtually unchanged on Saturday at $288. Today, the pair is having a difficult time finding direction and is staying close to yesterday's closing level. With a break above $300 area (psychological level/Fibo 50% retracement of June rally/20-day SMA) the pair could start a fresh leg up. On the downside, $280 (Fibo 61.8% retracement of June rally) could be seen as the initial support.

Ripple (XRP/USD) extended its rebound into a second straight day on Sunday following its drop to a fresh multi-week low of $0.3740 on Friday. After adding 2.6% yesterday, Ripple was last seen adding more than 1% on the day at $0.3935. The initial hurdle could be seen at $0.40 psychological level ahead of the 50-day MA at $0.4160. On the other hand, $0.3740 (Jul. 5 low) aligns as the first support followed by $0.3680 (May 17 low).

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Sellers come in ahead of 10,500

BTC/USD sells of late in the session as we draw to a close on an eventful day in the financial markets. We were expecting Fed Chair Jerome Powell to be the main event of the session but China announced plans to add tariffs to US imports. Then Powell once again stood firm against Trumps pressure to loosen monetary policy and the US President lost it on twitter. 

More Bitcoin News

XRP pushes to session highs but a key level is in sight

XRP/USD pushes to session highs. Key resistance level is in sight. 0.300 still seems the like the long term target for bulls.

More Ripple News

BCH/USD: 300 is well supported once again

Bitcoin Cash has rejected downside moves yet again. Key trendline apex needs testing soon. 360 is still the level to breach for upside momentum.

More Bitcoin Cash News

NEO announces new partnership with gumi Cryptos bringing blockchain to Japan

NEO Foundation has announced a new partnership with gum Cryptos. The two organisations will be working on bringing blockchain technology to Japan. 

More Neo News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP