The cryptocurrency market update: Bitcoin and major altcoins pass the time in ranges
- Bitcoin (BTC) has been locked under $8,500 in recent days.
- Altcoins are mostly range-bound with bearish bias during early Asian hours.
Cryptocurrency market traders are sitting on the fence, waiting for new catalysts. Bitcoin and major altcoins are somewhat directionless during early Asian hours. The total cryptocurrency market capitalization is $233 billion, unchanged from this time on Sunday; an average daily trading volume dropped to $56 billion. Bitcoin's market share settled at 65.9%.
Top-3 coins price overview
BTC/USD is locked in a tight range limited by $8,500 on the upside and $8,400 on the downside. At the time of writing. the first digital coin is changing hands at $8,465, mostly unchanged both on a day-to-day basis and since the beginning of Sunday.
Ethereum, the second-largest digital asset with the current market capitalization of $19.8 billion, has settled above $181.00 after a short-lived dip to $177.05 on November 15. ETH/USD has stayed unchanged in recent 24 hours amid low trading activity. The further recovery is limited by the upper line of 1-hour Bollinger Band at $183.30 followed by Saturday's low of $183.45.
ETH/USD, 1-hour chart
Ripple’s XRP is moving within a side channel, in line with the general trend on the cryptocurrency market. The coin bottomed at $0.2525 on November 15 and settled at $0.2615 by the time of writing. XRP/USD is the third digital coin with the current market value of $11.4. The coin may be vulnerable to further losses if fails to recover above $0.2620 (SMA50 1-hour) and $0.2630 (the upper line of 1-hour Bollinger Band) any time soon.
XRP/USD, 1-hour chart
Author
Tanya Abrosimova
Independent Analyst
