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- Today’s market has been mixed with bulls and bears. BTC is still struggling to cross major resistance of $10,500. Whereas Ethereum is looking confident to break $300 any soon.
- The overall market capitalization today was about $305,930,735,539 with the volume traded of $156,598,138,040. The market dominance of bitcoin is still 61.0%.
TOP CRYPTOCURRENCIES GAINERS
Ethereum (ETH) Price Analysis
ETH bulls are marching strong with the aim of reaching $300.00 anytime soon. Today, it is gaining around 4.98% with the current price of $283.17. The market capitalization is of $31,066,667,764 and the 24H volume traded is of $23,472,406,789. Since the past three days, ETH is moving between the price bands of $250-$300.
If ETH breaks a $300 mark, it will face resistance level at $370. The fundamental and technical aspects are in support of ETH bulls and it will be surprised to notice a downfall from here. Minor price corrections can be observed in the momentum but a price fall below $250 will indicate bearish momentum.
Tezos (XTZ) Price Analysis
Tezos is also on the gaining side in today’s market with an overall gain of 3.72%. The current market price is $3.44 with the market capitalization of $2,386,764,168 and the 24H volume traded of $191,778,735.
XTZ bulls have broken $3.00 mark only two days back but are marching strong to reach $4.00 mark without any resistance in much shorter tenure. However, if price corrections come into activity, it will find support at $3.00 and $2.80 respectively.
NEO (NEO) Price Analysis
NEO is also been amongst the top performing altcoins in 2020. It started with a price of around $ 8.60 and currently is at $16.08 with a gain of 4.72%. The market capitalization is of $1,134,237,068 and the 24H volume traded is of $1,090,374,460. NEO has reached its year-high of $16.68 which indicates that it can reach a level of $17.00 in the near future.
But the year-high is also acting as a multi-resistance point for this altcoin. But the bulls look to have strong potential to build momentum from here. The support level will be around $15.50 and $15.20 respectively.
TOP CRYPTOCURRENCIES LOSERS
Bitcoin SV (BSV) Price Analysis
Bitcoin SV is facing price corrections in today’s market and is dipped by -1.16%. The current price is around $352.44 with the market capitalization of $6,441,707,740 and the 24H volume traded of $2,376,043,749.
Overall, BSV is on bullish momentum since the starting of the year and the price corrections are just a result of some sharp rising rallies. The cryptomarket is keen to see BSV break the $400.00 mark anytime soon. The major support level for the bitcoin SV will be around $330.00 and there will be a minor resistance at $390.00.
Ethereum Classic (ETC) Price Analysis
ETC is also facing minor price corrections of -0.77% in today’s market. The current price is around $11.86 with the market capitalization of $1,379,295,890 and the 24H volume traded of $2,124,606,491. ETC is also having positive momentum this year and is expected to continue the same.
It has broken $12 mark but the price correction brought the altcoin back to $11 mark. It will be interesting to see if it breaks $12 again and its movement further down the line. The resistance for ETC is $12.10 with the support level of $11.50.
EOS (EOS) Price Analysis
EOS is also facing a downward shift in today’s market. Eos is dipped by -1.82% with the current price of $5.25. The market capitalization of $5,006,218,841 and the 24H volume traded of $3,898,268,020. EOS is also having positive momentum in this year. It started with a price of around $2.50 and broke $5.00 this month.
It can be said that the sharp momentum has resulted in today’s price correction but EOS bulls still have the potential to come into play again. They will be looking to break the resistance ahead of $6.00 with the support level of $5.20 and $4.70.
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.
