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- The crypto market today saw major price corrections in leading crypto assets like bitcoin, NEO and ICON.
- Whereas crypto assets like IOTA, Bitcoin SV and Tezos continued their bullish momentum in the market.
Top cryptocurrencies gainers
IOTA (MIOTA) Price Analysis
IOTA has been one of the top gainers in today’s market with an overall gain of 8.85%. It broke the mark of $0.33 and is expected to continue this bullish momentum after facing price corrections for a while now.
The market capitalization is of $918,726,385 and the 24H volume traded is of $24,731,589. The current price of IOTA is around $0.330533 and now the next mark for this crypto asset will be around $0.340568 with having support at $0.304773.
The RSI is around 70 level and CCI being in the overbought zone which is the only factor that indicates a downtrend in the price. The MACD level indicates that the bullish phase will continue.
Bitcoin SV (BSV) Price Analysis
One of the most surprising crypto assets in 2020 has been bitcoin SV with its gigantic positive movements in single day trade. It is able to make the top gainers list in today’s market also by having a gain of 6.25%.
The current price is around $362.10 and is expected to break the major hurdle of $400 mark shortly. Skeptics believe that the price hike is just another case of price pump and dump but BSV is able to sustain the gains that were made in January.
Techincal charts also indicate a bullish momentum in the near future with a small resistance at $370. However, if skeptics proved to be right, it will find support at $327 and any downfall below the $300 mark can result in a major pullback.
Tezos (XTZ) Price Analysis
Tezos has been successful in sustaining the bullish momentum today also with the upsurge of 1.12%. The current price is around $2.60 with the market capitalization of $1,804,704,124. The 24H volume traded is of $ 120,571,133.
XTZ bulls have strong potential to build momentum as technical indicators also support them. RSI is around 70 level with CCI being in the positive zone. MACD levels also suggest an upcoming bullish momentum for XTZ. The major resistance for tezos will be $3.30 and support around $1.80.
TOP CRYPTOCURRENCIES LOSERS
Bitcoin (BTC) Price Analysis
It cannot be said that bitcoin is on a downtrend after breaking the $10k mark since the past 3 months. The price correction occurring can be treated as a buying opportunity for traders and expect it to have a bullish momentum ahead.
It is expected that BTC might continue to decline but the bulls are active above $9,500. The current price is around $9787 with -0.29 decline.
The market capitalization is of $178,249,263,301 and the 24H volume traded is of $34,439,538,513. The next major support level for BTC will be around $9350. If the bulls came into play, the resistance level for the world’s largest cryptocurrency will be $10,000 followed by $10,200.
NEO (NEO) Price Analysis
NEO is facing a marginal downtrend of -0.67%. The current price is around $13.23 with the market capitalization of $933,553,116 and the 24H volume traded of $824,193,828. The altcoin has been on a fantastic bullish run since the inception of 2020. It started the year with a price of $8.68 and broke a $14 mark.
Currently, it is facing slight price corrections and is expected to have bullish momentum. The major resistance level for NEO bulls will be around $14.16. If the activity of price corrections continues for this crypto asset, it can touch the support level of $12.60
ICON (ICX) Price Analysis
ICON is facing downtrend movement for the past few days. Today, it dipped by 1.12% bringing the price around $0.401396. The market capitalization is of $209,101,874 and the 24H volume traded is of $43,783,103.
It touched a $0.51 mark and after that, it is facing price corrections only. If the negative momentum continues for this crypto asset, it will reach the support level of $0.36. However, if the bulls came into play, the major resistance mark for the will be at $0.51.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
