The cryptocurrency market price is unable to recover the market, the companies in the industry are still launching products that are required by the institutional players. Whereas some coins are still gaining profit after the market fall recently Augur, Dogecoin, Webcoin has really surged high and added a lot of money in the market.
Despite the market-wide price plunge last year, crypto trading volumes have actually increased in 2018 vs 2017, according to a recent report by research firm Diar. This shows that the traders are still active in the space.
Bitcoin (BTC) is currently range bound between $3,236.09 and $4,255. The immediate resistance is at the moving averages and above that at the downtrend line. One more resistance line is at $4,255.
From yesterday’s open at $3761 the price of Bitcoin fell at first to $3721 and started increasing again, but when it came back to around the levels of the open it started decreasing again and this time with stronger momentum.
From yesterday’s open at $132.2 the price of Ethereum has fallen at first by 9% at its lowest point yesterday when it came down to $120.25. From there the price started increasing and is currently sitting at $125 which is an overall decrease of 5.83%.
If the downtrend continues we are likely going to see the price of Ethereum land on the next strong horizontal support level that can hold the momentum behind the downward pressure is around $104.
The Ripple XRP/USD pair can rally to the overhead resistance of $0.4, and above it to the resistance line of the descending channel. A break out of the channel will signal the probability of a change in trend.
From yesterday’s low at $0.32688, the price of Ripple has been increasing today and came up to $0.34181 at its higher point today, but quickly fell from there as the hourly candle closed at $0.338.
From there the price continued moving to the downside and is currently sitting at $0.334 which is an overall increase of 2.37% from yesterday’s low.
As we see the whole market is red and other altcoins are also giving the average performance and have not recovered the crypto market yet the total market capitalization is $121 billion.