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- The overall crypto market was introduced to price correction activities on Wednesday’s trading session.
- The overall market capitalization was $361,749,074,825 with the 24-hour volume traded of $72,890,946,126
- The dominance of the crypto king remains at 58.30%
Will the Current Price Corrections can Turn into a Major Downfall for the Market?
As mentioned and cautioned by our team earlier in the daily reports, both BTC and ETH entered into critical resistance area on Tuesday’s market session where BTC was facing the resistance level of $11560.00 and Ether was facing its all-time resistance level of $390.00. The resistance level for both the major crypto-asset done their job and provided negative reversals to the price level in the current market. Currently, both the world’s leading crypto asset is having a minor support level of $11,200.00 and $380.00 respectively.
Top Gainers
Bitcoin Cash (BCH)
The intraday price chart of BCH reflects on significant positive momentum which has included reclaiming of the crucial mark of $250.00. The CMP is at $253.26 with the overall gain of 4.35% bringing the market capitalization to $4,696,401,980 and the 24-hour volume traded of $2,354,932,313. The BCH/BTC pair is also performing significantly positive with the gain of 5.28% bringing the current level to 0.02221751 BTC and providing strong bullish signals for the coin further ahead in the market.
Monero (XMR)
Monero is trading on bullish levels after breaking above its all-time 52-week high of $120.00. The crypto asset has surpassed the price level of $130.00 also. The CMP is at $131.63 with the overall gain of 1.37% bringing the current market capitalization to $2,33,551,233 with the 24-hour volume traded of $580,710,937. The XMR/BTC pair is also performing positive with the gain of 2.28% bringing the current level to 0.01154504 BTC. Currently, the only hurdle for the crypto asset is the resistance level of $133.00 which is proving to provide negative reversals.
Top Losers
OMG Network (OMG)
OMG network is on a downturn since it attempted to test the major resistance level of $4.00 past a few days back with the bullish sentiment. The CMP is at $3.46 with the loss of -4.18% bringing the market capitalization to $485,848,870 and the 24-hour volume traded of $125,538,597. On the downside, the crypto asset is having two support levels of $3.20 and $3.00 on PVT. Both OMG/BTC and OMG/ETH are performing negative with the loss of -3.23% and -3.27 respectively providing bearish signals in the market.
Zcash (ZEC)
Zcash also got beaten down by the major resistance level of $75.00 which has brought back price correction activity for the coin. The CMP is at $71.19 with the loss of -3.31% bringing the market capitalization to $729,524,524 and the 24-hour volume traded of $749,278,212. The ZEC/BTC pair is also performing negatively with a loss of -2.56% bringing the current level to 0.00323913 BTC. On the downside, the crypto asset has got the major support level of $70.00 which needs to be sustained otherwise can face a significant downfall further ahead in the market.
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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.
