- Bitcoin (BTC) is locked in a tight range with the support of $8,000.
- Altcoins retain rangebound bias during early Asian hours.
The cryptocurrency market is dominated by bearish sentiments during early Asian hours. Bitcoin and most altcoins out of top-20 are nursing losses on a day-to-day basis. Binance Coin (BNB) is the biggest loser, down 4%, while Tezos (XTZ) and Bitcoin Cash (BCH) is in a green zone. The total cryptocurrency market capitalization stayed at to $220 billion, down $223 billion from this time on Wednesday; an average daily trading volume is registered at $65 billion. Bitcoin's market share settled at 65.9%.
Top-3 coins price overview
BTC/USD is hovering in the range limited by $8,150 on the upside and $8,000 on the downside. While the price managed to recover from the recent low of $7,990, the upside momentum is nowhere to be seen. Looking we will need to see a sustainable move above $8,150 barrier strengthened by the upper line of 1-hour Bollinger Band to mitigate the initial bearish pressure.
BTC/USD, 1-hour chart
Ethereum, the second-largest digital asset with the current market capitalization of $19.0 billion, has settled at $175.00. The recovery is capped by SMA50 (Simple Moving Average) 1-hour currently at $175.48. Once it is out of the way, the upside is likely to gain traction with the next focus on $176.00. At the time of writing, ETH/USD down 1.3% on a day-to-day basis and unchanged since the beginning of the day.
ETH/USD, 1-hour chart
Ripple’s XRP returned to $0.2500 on Thursday after a short-lived dip to $0.2400. The third-largest digital asset with the current market value of $10.8 billion has lost 1.6% of its value in recent 24 hours, unable to develop a sustainable recovery. The initial barrier is created by $0.2530 (the upper line of 1-hour Bollinger Band).
XRP/USD, 1-hour chart
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Editors’ Picks
BTC/USD weekend action brushes shoulders with $7,600
Cryptocurrencies stagnated within familiar levels over the weekend. Bitcoin action impressively jumped above the resistance levels at $7,400 and $7,500. The upward leg jumped above $7,600 before forming a high at $7,638.
Ripple Price Analysis: XRP/USD gazes on a risky triangle breakdown
Ripple is ranged confined between $0.21 and $0.2336. The recovery from the low in November around $0.22 lost steam short of $0.24. On the flipside, $0.21 is standing out a formidable support area.
LTC/USD price halved afte halving, hash rate dropped by 70%
Litecoin (LTC), the sixth-largest digital asset with the current market capitalization of $2.9 billion, has been one os the worst-performing coins of the month out of top-20.
Bitcoin Cash Price Analysis: BCH/USD marinates the next rally targeting $300
Bitcoin Cash is turning bullish amid expanding volatility. The general trend is the market sideways. Trading activity over the weekend remained drab. BCH/USD bulls tried to push for recovery towards $220 but stalled at $216.
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