Home Crypto Crypto Market Analysis Daily Crypto Update 09.07.2018. –

Daily Crypto Update 09.07.2018. –

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The weekend’s rise in most of the currencies stopped today, Monday and the market made a small pullback.
The Total market capitalization couldn’t break over the $280 billion and pulled back to where its now at $273 Billion. The market remains under a big pressure during the last days and the expectations are in a big percentage waiting for a deeper setback in most of the currencies.


General Overview


Market Cap: $273.846.365.383

24h Vol: $11.597.597.522

BTC Dominance: 42.6%

A bullish shift in the charts will only be possible if Bitcoin could cross the $ 10.000 000 mark. The top 10 chart appears in red with the exception of Thether, which is positive by 0.12% in the last 24H.

Top 100 Gainers of the day

ERA ERA                      162.19%
United Bitcoin UBTC   49.84%
Sumokoin SUMO         42.47%
AirSwap AST                 34.24%
Wowbit WWB               33.03%

Top 100 Losers of the day

Quantum QAU             -48.02%
DecentBet DBET         -34.41%
StarCoin KST               -30.25%
DeviantCoin DEV       -26.92%
Noah Coin NOAH       -26.90%


News


Google Co-Founder Sergey Brin Reveals He Is Mining Ethereum
Co-founder of Google and President of Alphabet, Sergey Brin, revealed he is mining Ethereum with his son at a summit hosted by Sir Richard Branson on July 8. The panel also spoke on the potential of zero-knowledge proofs which underlie the privacy option of Zcash.
Source: newsbtc.com

Tokenizing Trading Fees With Mining Mechanism – Is It Good Or Bad For Exchange Platform Users?
ABCC is another exchange trying to reward users with AT and ToM. Today we are going to discover how a bitcoin-like mechanism and a principle of fixed number of tokens generated via half-life cycle with Simultaneous Release differentiate the new approach from others.
Source: newsbtc.com

Blockchain Platform For Creating Large Consumer Applications Aims At Exchange
New blockchain project Constellation Labs for “consumer grade” applications development announced the listing of its DAG token on KuCoin exchange, following the recent launch of their developer community Orion. Orion has an award system for participants and will be used for the testnet at the beginning of August.
Source: newsbtc.com


Analysis


XRP/USD

XRP/USD could not overcome the Bearish trend line nor the EMA-100 in this 4-hour chart bouncing its price in $0.4877 and it is stuck to the line during the whole day. The price is now close to the Pivot S1 in $0.4118 and if the bears can put more pressure the $0.4622 would be the next level to visit.





Market Sentiment

4-H chart technicals signal a sell sentiment.

Oscillators are showing sell signals and pointing down.

Pivot Points

R3 0.5001
R2 0.4943
R1 0.4863
PP 0.4805
S1 0.4725
S2 0.4668
S3 0.4588

LTC/USD

Litecoin has been moving in a wide range since the beginning of the month between $79-86 while the EMA-100 is still an important resistance to overcome. Today the price is indecisive and close to the pivot S1, if the price can break this support it could return to visit the $79.5 level.



 


Market Sentiment

4-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.


Pivot Points

R3 88.3314
R2 86.9806
R1 84.5891
PP 83.2383
S1 80.8468
S2 79.4960
S3 77.1045

EOS/USD

EOS is having a big drop right now as EOS New York reports. Today a BPs crash and the internal problems in the EOS network and disputes inside the community members may affect the price. Also, some block producers crashed because prices in RAM for EOS increased more than 600% in the last days. We could see pronounced sales in the short term.



 


Market Sentiment

4-H chart technicals signal a Strongly Bullish sentiment.

Oscillators are showing sell signals and pointing down.


Pivot Points

R3 9.22
R2 9.11
R1 8.90
PP 8.78
S1 8.57
S2 8.46
S3 8.24

 Conclusion


My expectation in the short term is a pronounced sale in most of the cryptos for the first days of this week before seeing recovery signs.

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