Home Crypto Crypto Market Analysis Daily Crypto Review, Apr 14 – Blockchain Immunity Passport for COVID-19?

Daily Crypto Review, Apr 14 – Blockchain Immunity Passport for COVID-19?

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The cryptocurrency market recovered from the price drop it experienced during the weekend and made its move towards the upside. Bitcoin is currently trading for $6,888, which represents an increase of 3.02% on the day. Meanwhile, Ethereum gained 3.77% on the day, while XRP gained 2.58%.

MaidSafeCoin took the position of today’s most prominent daily gainer, with gains of 25.25%. Digibyte lost 8.89% on the day, making it the most prominent daily loser.

Bitcoin’s dominance increased slightly when compared to yesterday’s value. Its value is now 64.61%, which represents a 0.44% difference to the upside.

The cryptocurrency market capitalization increased slightly over the past 24 hours. Its current value is $196.65 billion. This value represents an increase of $4.11 billion when compared to the value it had yesterday.

What happened in the past 24 hours

The COVID-19 Credentials Initiative (also known as CCI) is working on a digital certificate that will enable users to show proof that they have recovered from the COVID-19 virus. The certificate will work by using the W3C verifiable credentials standard. The certificate will show whether a person has antibodies for coronavirus or if it got a vaccine.

This form of certificate would act as an immunity passport, which could help stop the spreading of COVID-19 as well as helping individuals return to their lives prior to the pandemics.

Honorable mention

Bitcoin

One of the biggest and most well-known exchanges, Binance, has officially launched Bitcoin options on the Binance futures trading platform.

Binance has hinted that this might be the case earlier in April, but the main announcement came on April 13. The options are currently limited to the mobile app.

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Technical analysis

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Bitcoin

Bitcoin started recovering from the fall below some of its key support levels and made an attempt to reach its previous levels. The largest cryptocurrency by market capitalization has been moving up steadily over the past 24 hours, making its way above $6,850 and establishing its price there. Low volume might indicate that a move will end soon unless some form of new money comes to the market.


Bitcoin’s volume was descending in the past 24 hours, while its RSI level went to a value of 50.

Key levels to the upside                    Key levels to the downside

1: $7,085                                           1: $6,850

2: $7,420                                           2: $6,640

3: $7,750                                            3: $5,960


Ethereum

Ethereum established its position above $147.5  and started moving above the key level over the past 24 hours. The second-largest cryptocurrency is currently trading around the price of $158, with volume a bit low to progress further. However, the support level of $147.5 will hold (at least in the short-term) as there is no bear pressure at the moment.


Ethereum’s volume is on low levels, preventing any unstable movement. Its RSI level is currently at 48.

Key levels to the upside                    Key levels to the downside

1: $158                                                1: $147.5

2: $168                                               2: $139 

3: $178.6                                             3: $128


Ripple

XRP increased as well over the past 24 hours but had a pretty rough day. If we take a look at the chart, we can see its price increasing and trying to follow the ascending trend line. However, the uptick was stopped by the $0.19 key resistance level. As the price stopped rising, XRP started making moves towards the downside. There is a possibility that XRP might lose today’s gains very soon.


XRP’s volume decreased when compared to yesterday, while its RSI level is at 44.

Key levels to the upside                    Key levels to the downside

1: $0.19                                              1: $0.165

2: $0.2                                                2: $0.147

3: $0.205                                             3: $0.1

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