After dropping hard yesterday, the crypto markets have not seen any bounce yet. The Top 100 crypto board is actually a mix of red and with some greens but there are no big changes to the coins and tokens.
The market capitalization is in almost the same level as yesterday at $201 Billion, but earlier in the day, it dropped to as low as $196 Billion before breaking free and going back up to its current level. The trading volume is static and now at $3 Billion with the BTC dominance still at 54.1%.
The Bitcoin price is currently at $6323, it is gathering some volume at $4 Billion but is still not able to make further gains earlier in the Asian Markets. Earlier, it reached as low as $6200 before making an upside correction. On the 4-hour charts, the MACD is slightly recovering the bearish zone, the RSI is still below 40. The Money Flow Index (MFI) is set to go up and now above 50. In the short term, the upward movement may continue but progress may be capped with the weekend so near.
Ethereum has fallen sharply and is now trading at $198. Yesterday, it dropped from $220 to $200 then declined further to as low as $189 before making an upside correction. On the chart, MACD is still in the deep bearish zone, and the same as BItcoin, RSI is still below $40 and MFI is going up but still below $40.
The Top 10 altcoins are in the same storyline as yesterday and most has lost any gains they have made in the past month. Most have crept back to their lowest level after losing an average of 10% yesterday. EOS has lost another -2.35% today and now trading at $5.20. Monero lost -1.61% on the day. The only one on the green today is XRP which has won over 3.40% gains, but still, at $0.42, it is still very low compared to even just last weeks price at $0.53.
The Top 25 has 0x on a surge after it is listed on Coinbase. It is currently trading at $0.776 and has gained 17.94% on the day. 0x is up 22% on the week and is ahead of its altcoin brothers with consistent gains over the past month. Apart from 0x however, the Top 25 is in the red -in continuation of yesterday’s retreat. Ethereum classic is still losing and has lost another -4.92%. Tezos is also bleeding and lost -3.45% on the day. The rest are at 0–3% loss and may further decline over the weekends.
We have several tokens starting a recovery but still too low at this point. BAT is at 7.45% and trading at $0.172. Decentraland is gaining a bit at 6.35%. Loom Network, Nebulas, and Eternal Token are all green at 4% gain earlier today. On the other side, MOAC and Hypercash are still both losing heavily at -10%, and Bytecoin is not in a good place at -8.82%.
Overall, the market has remained stable after the huge drop. It seems that the market is already immune to panic attacks. While the bears are still very much in control of the scene, we are pretty much back on the waiting game.