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- The cryptomarket is witnessing a major downtrend in today’s market again with Bitcoin going below $9000 mark and Ethereum close to $200 mark.
- Tezos, however, has been on the positive side as it triggered by the launch of margin trading on Kraken.
- The overall market capitalization is $249,474,199,615 and the 24H volume traded of $197,302,316,798. The overall dominance of BTC is 64.2%.
IOTA(MIOTA) Price Analysis
IOTA has been on the negative side in today’s market with an overall loss of -9.39%. The market capitalization is of $594,881,084 and the 24H volume traded is of $18,248,970. The altcoin started with the level of $0.23 and went to the support level of $0.20 which helped it back to $0.21.
There has been an increase in the selling volume for the crypto asset. Any downfall below $0.20 will indicate that bears are here to stay. For avoiding more major pricing corrections, IOTA needs to surpass the psychological barrier of $0.30.
ICON (ICX) Price Analysis
ICON is also facing a downtrend in today’s market. The overall loss is of -3.68% with the market capitalization of $157,412,841 and the 24H volume traded is $30,408,322. The current price is at the major support level of $0.30.
Yesterday, ICX went below the support level but somehow managed to avoid any further decline. It indicates that the altcoin has still potential left to show positive momentum in the market.
An upsurge above the price level of $0.40 can bring back ICX bulls into the market. However, if the current declining phase continues, any drop below the major support level of $0.27 won’t be a good sign for the altcoin.
Cardano (ADA) Price Analysis
Cardano is again on the downtrend with an overall loss of -3.99%. The market capitalization is of $1,302,890,515 with the 24H volume traded of $207,746,039. The current price is around the support level of $0.050.
However, ADA broke and gone below the support level by reaching the day low of $0.046. For now, it is back again on the level of $0.050 but the movement has indicated that we can expect further downfall from the altcoin in the near future.
Stellar (XLM) Price Analysis
Stellar Lumens has only been on the downside with an overall loss of -3.53% bringing the current price to $0.059 which means that it has broken the major mark of $0.60 again. The market capitalization is of $1,207,677,145 and the 24H volume traded is of $503,732,949.
Yesterday, XLM was successful in climbing up again above $0.060 but today it is struggling to do the same. If it closes below the level of $0.055 in today’s market, it will indicate the traders about upcoming further downfall.
Tron (TRX) Price Analysis
Tron is also facing minor pricing corrections in today’s market. It is facing an overall loss of -1.96% bringing the current price to the level of $0.016. The market capitalization is of $1,129,272,833 and the 24H volume traded is of $1,911,899,236. TRX has now been showing movements between the price band of $0.010 and $0.020 only.
This means that any upsurge or decline at these levels will be crucial for CEO Justin Sun’s Coin. The CEO is also working day and night for providing a fundamental boost in the crypto market as well as for mass adoption. The resistance level for TRX will be at 0.026 and the support level is of $0.016 and $0.012 respectively.
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.
