• Bitcoin (BTC) returned to the previous range after a bout of volatility.
  • Altcoins are moving in sync with the first digital currency.

The cryptocurrency market has calmed down after a short period of wild volatility on Wednesday. Bitcoin and all major attempt a recovery after a sharp sell-off. The total cryptocurrency market capitalization increased to $196 billion from $194 billion this time on Wednesday; an average daily trading volume stayed reached $67 billion. Bitcoin's market share settled at 66.9%.

Top-3 coins price overview 

BTC/USD hit the area above $7,700 on Wednesday; however, the upside movement proved to be unsustainable as the coin has returned to $7,300 by the time of writing. The local support is created by the lower boundary of the recent consolidation channel at $7,100. It is followed by a psychological $7,000. The recovery may be limited by  $7,330 (a confluence of SMA50 (Simple Moving Average), SMA100 and the middle line of the Bollinger Band on 1-hour chart).

BTC/USD, 1-hour chart

Ethereum spiked to $153.15 on Wednesday only to return to the area below $146.00 on Thursday. The second-largest digital asset, with the current market capitalization of $15.7 billion, has barely changed in recent 24 hours. The initial support awaits us on approach to $143.00 (the lower line of 1-hour Bollinger Band), the resistance is created by $147.30 ( SMA50 and the middle line of the Bollinger Band on 1-hour chart).

ETH/USD, 1-hour chart

Ripple's XRP topped at $0.2263 amid wild Wednesday rally on the cryptocurrency markets, At the time of writing, XRP/USD is changing hands at $0.2150, unchanged in recent 24 hours. A strong support is created by psychological $0.2100. This area is reinforced by the lower line of the Bollinger Band on 1-hour chart. A sustainable move below $0.2100 may lead to a sell-off towards November 25 low at $0.2014. 

XRP/USD, 1-hour chart


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

Bitcoin Price Analysis: Bearish bias still intact while below 200-HMA

BTC/USD breached 10k for the first in four days in a wild Saturday trading. BTC buyers appear struggling on the road to recovery this Sunday. The technical set up still remains in favor of the bears in the near-term.

More Bitcoin News

Ripple Price Prediction: $0.28 back in sight amid a potential bear flag

Having seen a sharp correction from a seven-month high of 0.3466 on Saturday, Ripple (XRP/USD) is making recovery attempts in a bid to regain the 0.32 handle this Sunday. A stack of resistance levels caps the upside. The spot has charted a potential bear flag on hourly sticks. 

More Ripple News

Bitcoin Cash Price Analysis: Path of least resistance appears to the downside

BCH/USD stalls its recovery just shy of the 458 threshold, having witnessed a sharp pullback from near an eight-month peak of 496.96 clocked last Friday. No. 5 coin is teasing a bearish flag breakdown on hourly sticks, with the RSI flattening below the mid-line.  

More Bitcoin Cash News

Cryptocurrency market update: Ethereum stands tall amid broad crypto correction

Corrective downside still intact, as the recovery attempts lack further legs. Ripple emerged as the weakest amongst the top 3 most favorite crypto coins. Ethereum remains on track to book a whopping 18% weekly gain.

More Cryptocurrencies News


Bitcoin Weekly Forecast: BTC bulls brace for jump to $11,000

Bitcoin (BTC) has been growing for three weeks in a row. The first cryptocurrency hit $10,504 on Thursday - the highest level of 2020.

Read the weekly forecast