Crypto Market Recap: 14, October 2018
The cryptocurrency markets have still not found it’s mojo as we enter this Sunday. The last dump seems to have pulled the market sentiment down further because there has been no change from yesterdays’ price action.
The market capitalization is still just slightly above $200 Billion but the trading volume is not in a good position as it dropped more at $9.5 Billion. This is the first time it dipped below $10 Billion since August. Yesterday’s BTC dominance has dropped down a notch but now it has inched back to 54% which might not be a good sign for the altcoins.
Bitcoin is still not moving since yesterday at its current price at $6370. Over the week, the Bitcoin price saw a rise to up to $6600 then declined drastically hitting $6400 and $6200 supports. Then it started a semi-recovery yesterday and it actually touched $6400 earlier in the Asian markets but the volume is just so low at $3.1 Billion. The chart is now slightly on a bullish zone with the MACD riding up on the four-hour chart. Come Monday, we might be looking at Bitcoin struggling to go forward or if the bears are strong, a drop at around the $6100 would not be too far fetched.
Ethereum is currently facing a lot of stumbling blocks at the moment. It’s been stuck at $202 for the past three days and the volume is not moving at $1.1 Billion. The week saw Ethereum tumble down alongside Bitcoin from $234 down to as low as $185. It made an upward movement but it was capped at $200 where it is still on at the time of this writing. With its current volume, it might not be easy to cross the $207 resistance in the short-term even though it is slowly moving the bullish zones on the charts.
The price action for the Top 10 is hardly noticeable. Cardano is the top loser today at -1.68% at the time of this writing. Next, we have Litecoin back at $53.30 with a -1.20% loss on the day. On the other end, we only have Monero which is barely positive at 0.24%. The rest are at 0–1% loss and flat this morning.
TRON is still leading the Top 25 at 2.06%. Dash has been fighting back to start the recovery at 1.93% as well. 0x is back on the positive after a correction yesterday. NEO is also on the green at 1.26%. As you can see, the movements are quite small at the moment and it will take sometime before it recovers from the 10% drops it went thru last week. On the other side is Tezos correcting at -1.44%.
The Top 100 are a mix of green and red but also pretty flat apart from the current fomo for Digitex Futures, an exchange planned for launch at the end of this year. It has jumped another 20.26% on the day after yesterday’s pump at46.15%. Aion is also surging at 17.62% and Digibyte rounds off our double-digit gains for the day.
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