Market Cap: $420,627,984,827
24h Vol: $27,680,549,243
BTC Dominance: 37.4%
In the last 24 hours market cap has been rising and the rising, all the way from 388B to around 420B where is now sitting.
This new high exceeds the level from which the market cap evaluations was 7. March which is a good confirmation that the uptrend has begun.
Crypto Market Consolidation News:
News that came out in the last 24 hours is very positive, and leaning towards cryptocurrency adoption and acceptance.
Chinese Gov’t Reiterates Strict Stance On Crypto, Focuses On Illegal Fundraising
The Chinese government has recently reiterated its negative stance towards Initial Coins Offerings (ICOs) and cryptocurrency exchanges at a news conference in Beijing, claiming that financial authorities will continue to monitor private lenders’ interest rates, securities companies, and futures firms to combat illegal fundraising, Reuters reports April 23.
Source: Helen Partz, April 24, cointelegraph.com
U.S. Court Rules Money Laundering-Related Case Against Coinbase Must Have Public Trial
A U.S. federal court has ruled that law firm Silver Miller’s money laundering-related class action lawsuit against crypto exchange and wallet must be held in open court as opposed to a private arbitration boardroom, Silver Miller attorney David Silver told Cointelegraph in an email today.
Source: Molly Jane Zuckerman, April 24. Cointelegraph.com
California State Senator Promotes Blockchain Bill For Recording Stock Information
Last week, Senator Bob Hertzberg (D), who represents California’s 18th Senate District, advanced legislation permitting Blockchain technology for certain business practices, financial information platform Equities.com
Source: Ana Alexandre, April 24. Cointelegraph.
In the last 24 hours, Bitcoin’s price went from 8800$ to 9250$ which is approximately 5% increase.
Looking at the daily chart, we can see that the price has gone above 100-day EMA and is now interacting with 0.786 Fibonacci level.
The current sentiment for Bitcoin is positive.
On the hourly chart, we can see that the price is experiencing selling pressure, but it’s still holding strong at these levels.
Overall hourly chart signals a buy.
In the last 24 hours, Ethereum’s price increased by 9.35%, coming to 678$ from 617$ where it was yesterday.
On the daily chart, we can see that the price went over the 100-day EMA and the 1.618 Fibonacci level.
The current market sentiment is positive, meaning that out of 96 mentions in total, 78% are positive.
Looking at the hourly chart, we can see that there’s a lot of momentum behind this move and that the price is far from EMA’s.
Overall hourly chart signals a strong buy.
Ripple has been the first among three cryptocurrencies that are covered in this report to advance upward in price. In the last 24 hours the price increased by 5,2% coming from 0.855$ to 0.9$ where is now sitting.
The daily chart shows that the price was held by the 100% Fibonacci level since yesterday but hasn’t made new highs which is a sign of struggle.
The current sentiment is very positive, however, there are only 29 mentions in total.
Zooming into the hourly chart we can see why the price has struggling to make new highs, it was trapped in a triangle but has breached out since to the upside.
Overall, hourly chart signals a buy.
After a higher high has been made on the global chart and seeing how much price’s of three major cryptocurrencies have risen over the last days hitting key resistance levels, a Crypto market consolidation or a pullback is near. Before advancing further prices have to stabilize and retest prior resistance for support, like in the case of Ripple.