- Bitcoin (BTC) is range-bound amid low trading activity conditions.
- Altcoins stuck inside the ranges with a bearish bias.
The cryptocurrency market has entered a range-bound phase as a pre-holiday season is upon us. Thanksgiving day in the US and Black Friday keep trading activity low and risks of sudden price jump high. The total cryptocurrency market capitalization settled at $204 billion unchanged from this time on Thursday; an average daily trading volume decreased to $64 billion. Bitcoin's market share settled at 66.4%.
Top-3 coins price overview
BTC/USD bulls faced a strong resistance above $7,600 on Thursday and had to retreat towards $7,470 by the time of writing. The first digital currency is mostly unchanged both on a day-to-day basis and since the beginning of Friday. Looking technically, the initial support is created by SMA50 (Simple Moving Average) 1-hour, located on the approach to $7,400.
BTC/USD, 1-hour chart
Ethereum is trading at $151.70, off the intraday high registered at $153.55. The second-largest digital asset, with the current market capitalization of $16.6 billion, has been range-bound in recent 24 hours. Ethereum's further upside is limited by a psychological $155.00, which is reinforced by the upper line of 4-hour Bollinger Band. Initial support is created by a combination of SMA200 and SMA 50 1-hour at $151.50.
ETH/USD, 1-hour chart
Ripple's XRP has settled at $0.2250 by press time. The 3d largest digital asset with the current market value of $9.6 billion has been paralyzed in a tight channel since November 27, with the upside limited by $0.2300, and the downside limited by $0.2230.
XRP/USD, 1-hour chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Vitalik Buterin slams controversial gambling project ZKasino following scam allegations
Ethereum founder Vitalik Buterin took to Warpcaster, a new type of social network, to condemn ZKasino, a decentralized gambling platform based on Layer 2 Ethereum protocol zkSync.
Starknet jumps 2% after notice inviting specific groups to claim STRK airdrop
Starknet Foundation addressed the groups within the STRK community that were unable to receive the token’s airdrop during the first round. The Layer 2 chain organized an airdrop event in February.
XRP price capped at $0.55 despite retail holdings nearing all-time highs
Ripple price (XRP) failed to break resistance at $0.55 early Wednesday as traders continue to digest Ripple’s recent response to the Securities and Exchange Commission’s (SEC) allegations of illegally selling XRP as a security.
Binance founder Changpeng Zhao could face three-year jail time
US prosecutors are requesting Binance founder and former CEO Changpeng Zhao (CZ) to serve a three-year jail time, according to a Reuters report published Wednesday.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?