Home / Analysis / Cryptocurrency market update: Back to bearish trend – Bitcoin, Ethereum and Ripple swing in the stability

Cryptocurrency market update: Back to bearish trend – Bitcoin, Ethereum and Ripple swing in the stability


The cryptocurrency market has taken a step back as it is swinging towards red indicator everywhere. Bitcoin was somehow holdings its position at $5,200 due to refusal at $5,300. Ripple and Ethereum also keeping the firmness to important supports stages as bears take dominance during the Easter holiday.

The crypto ecosystem is explosively bearish at the starting of the day on Friday. The people’s mood of Easter holiday tends to created adverse condition in the market as investors take their time for relaxation during the holidays after continuous trading of four months in 2019.

The overall market capitalization has recently gone down from the increasing of the week at around $180 billion that has been recorded on Thursday 18. The market capitalization stays at $178 billion, with Bitcoin climbing towards the value of $92 billion. Bitcoin’s strong presence on the market is increasing, except it stayed at $52% at the time.

Bitcoin price data: Bitcoin has been trading uphill with an increasing channel during this whole week. The bulls continue to thrust the limits on the upwards, even though it has been limited vaguely around $5,300. A try to create a way ahead this level was ineffectual moments before the end of the session on Thursday. A decreased correction smashed below 50 SMA but the assistance at $5,200 is retained in the position. The BTC/USD is trading on the value of $5,231 during looking for resistance at the 50 SMA.

Ethereum and Ripple price data: Ripple and Ethereum both position in the red indicator in the crypto market. The Ethereum is low 1.85% to trade at $171.40 and on the other hand, Ripple is also positioned in the red with losing 2.18% and altering hands at $0.3306. The pair of cryptocurrencies is swinging in the equilibrium little over the important assistance sectors. For explaining, that the Ethereum is right in between of the bullish sector. And on the other hand, is surviving to keep on to the resistance altered support at $0.3300. The other top twenty virtual currencies are in the red indicator also by losing between 0.5% and 3%.

About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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