Crypto Market Analysis

Daily Crypto Update 04.07.2018 – Bears everywhere

The market is returning all the gains of the beginning of the week in an interesting movement of the bears that shows that the general trend has not changed and that more consolidated movements are needed in order to define a real change.

General Overview

Market Cap: $263.141.302.151


24h Vol: $15.751.561.828

BTC Dominance: 42.2%

The cryptocurrency market capitalisation has dropped by 10 billion in 24-H

Coin Market Trends

Only 14 of the top 100 Cryptos are in green numbers today, this is showing the big percentage of sellers around.

Top 100 Gainers of the day

  1. Syscoin             49,61%
  2. Decentraland  33,11%
  3. Steem               6,66%
  4. Status               6,54%
  5. SmartCash      6,24%

Top 100 Losers of the day

  1. BCN                      -16,35%
  2. Golem                   -14,02%
  3. WAX                     -12,46%
  4. Mixin                    -12,24%
  5. Loom Network   -11,34%


There is not any considerable news that moves the market in the last hours, here is a short summary extracted from the portal

Binance Leads $12 Million Funding Round in the Tokenisation Startup Republic
A retail investment platform called Republic recently completed $12 million in financing to tokenise its platform and introduce its own security token, led by Binance Labs and NGC ECO Fund. The financing round was also supported by ZK Capital, Oyster Ventures, FBG Capital, Hazoor Capital, East Chain, Zhen Fund and others.

Microsoft Launches Enterprise Blockchain Partnership in Taiwan
Microsoft Taiwan has entered into a partnership with Digital China and Hot Cool in the hope that the three companies can use blockchain technology to improve the financial, e-commerce, entertainment, and other industries.

Bermuda Amends Banking Act to Favour Blockchain Startups
Bermuda continues its push to become a global hub for blockchain and fintech innovation, having recently announced plans to change its banking laws to create a class of banks catering to blockchain and fintech companies, according to Finextra. The amendment to the country’s Banking Act follows the recent passage of a Digital Asset Business Act and an initial coin offering (ICO) bill.



NEO is trying to cross the lower side of the bullish pennant pattern in this 60-minute chart after bouncing in the upper side around $37.40. A breakout of this level could be an opportunity to go short in the short term and against the rules of the trend, the bulls have lost strength and they are returning an important part of the 22% of gains of the last two days.

We must wait for a confirmation of the break to enter about $35.31 and look for the $35.17 (Fib. 61.8%) and then the $34.28 (Fib. 76.4). We can go short in $35.31, placing a stop loss at $36.17, take 70% profit at $34.28 and look for the Pivot S2 at $33.16 or the 100% Fib Retracement.

Market sentiment 

Hourly chart signals buy.

Oscillators are leaving oversold levels and pointing up.

Pivot points

S3 41.59 
S2 40.28 
S1 38.51 
P  36.71 
R1 34.48 
R2 33.17 
R3 30.94 


BTC/USD has lost -2.34% in the last 24-H while the buyers weren’t strong enough to maintain the upside momentum and to beat the important resistance at $6,700, with the opening of the Asian Market, the bearish pressure has started and Bitcoin goes back to lower levels close to the Pivot S1 and is sitting at $6,460.

The technical perspective is showing us a possible bounce in this EMA-100 of this 1H chart according to the readings of the RSI and Stochastic showing oversold levels, another test to the EMA-100 could encourage the buyers to push the price again and send it to test $6.676 again.

Market sentiment 

Hourly chart signals buy.

Oscillators are leaving oversold levels and neutral.

Pivot points

R3 6830.92
R2 6750.36
R1 6627.50
PP 6546.94
S1 6424.09
S2 6343.53
S3 6220.67


XRP has returned more than 62% of its last rally in just 24 hours and has not been able to keep the support at $0.4889, at this moment the price is held by the EMA-100 and if a break by the bears happens we could see a fast drop down to the $0.4500 zone.

Market sentiment 

Hourly chart signals sell.

Oscillators are in oversold levels and pointing up.

Pivot points

R3 0.5521
R2 0.5360
R1 0.5102
PP 0.4940
S1 0.4683
S2 0.4525
S3 0.4265


Coin Market Trends: Although a correction in the rise was expected, this has been quite long and it is still possible that we continue to see minimums in most of the pairs while the BTC continues to feel the pressure of the sellers.


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