Tanya Abrosimova
Independent Analyst
- Bitcoin (BTC) has settled settle above $8,200 as the upside momentum is losing traction.
- Altcoins are range-bound with bearish bias during early Monday hours.
Bitcoin has recovered above $8,000 to trade at $8,220 at the time of writing. However, the upside momentum seems to be fading away as all major digital assets are nursing marginal losses during early Asian hours on Monday. The total cryptocurrency market capitalization settled at $222 billion, an average daily trading volume is registered at $57 billion, while Bitcoin's market share recovered to 66.6%
Top-3 coins price overview
BTC/USD took off from the support of $7,800 on Sunday and broke above $8,000 barrier; However, the upside momentum faded away on approach to $8,300. Despite the retracement from the recent high, BTC/USD is trading with 3.5% of gains on a day-to-day basis, unchanged since the beginning of Monday.
Ethereum, the second-largest digital asset with the current market capitalization of $18.9 billion, is hovering at $174.53, off the recent high registered at $175.72. Looking technically, ETH/USD is vulnerable to further losses as long as the critical Resistance of $180.00 remains unbroken. ETH/USD has gained nearly 2% in the recent 24 hours.
Ripple’s XRP has gained about 1.3% of its value to trade marginally above $0.2900 at the time of writing. XRP/USD has retreated from thee intraday y high of $0.2949 as the upside momentum fade away on approach to the critical resistance level. Ripple's current market value is registered at $12.6 billion, while an average daily trading volume stays at $1.6 billion, according to CoinMarketCap's data.
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
Ripple wipes out weekly gains, experts comment on role of Ripple stablecoin
Ripple declined to $0.52 on Thursday, erasing all gains registered earlier this week. Ripple SVP Eric van Miltenburg’s comments on the firm’s stablecoin, and how it is expected to benefit the XRP Ledger and native token XRP have raised concerns among crypto experts.
Hedera HBAR slips nearly 10% after air is cleared on mistaken link with giant BlackRock
HBAR price is down nearly 10% on Thursday, partly erasing gains inspired by the misinterpreted link with BlackRock. Despite the recent correction, Hedera’s price is up 44% in the past seven days.
The reason behind Bonk’s 105% rise and if you should buy now Premium
Bonk price has shot up 105% in the past five weeks. A retracement into $0.0000216 or the $0.0000152 to $0.0000186 imbalance would be a good buying opportunity. Patient investors can expect double-digit gains from BONK that could extend up to 70%.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
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?