Crypto Market Analysis

Daily Crypto Update 14.06.2018 – The Market Is Stressed

The market is trying to take a break in its drop and Technical Indicators seem to be pointing to a bullish movement for some of the most important currencies, some greens are now in the charts after some important support levels were touched yesterday. The drop, however, has not been declared as finished and all the accumulated drops of the week need big buying efforts to call the following days positive for the different pairs.

General Overview

Cryptocurrencies: 1628
Market Cap: $
24h Vol: $16.658.912.029
BTC Dominance: 40.1%


Market capitalisation has moved down but just by 2 billion dollar which indicates the Capital Outflow has decreased and the market seems ready to receive buyers.


Thailand SEC Eyes Approval of 5 ICOs out of 50 Applicants This Month
Thailand’s Securities and Exchange Commission (SEC), the country’s capital markets authority, is reportedly expecting to approve five initial coin offerings (ICOs) this month.

India’s Central Bank Banned Cryptocurrency with Zero Research or Consultation
The Reserve Bank of India has responded to a query seeking explanations for its reasons to ban banks from dealing with the cryptocurrency industry, admitting it conducted no research prior to its prohibitive action.

$250,000 to $20 Million: Coinbase Launches Index Fund for Large Investors
Coinbase has officially launched its new cryptocurrency index fund, a product specifically catered to large investors, enabling access to all five cryptocurrencies listed on the platform.

Bitcoin Price Bounces From $6,100 to $6,500, Market Buys Breathing Room
The bitcoin price has demonstrated a short-term corrective rally from $6,100, rebounding to $6,500 over the past 24 hours, rising by around 6.5%. Small cryptocurrencies and tokens followed the price movement of bitcoin on the upside.

ICOs are Securities, ‘Don’t Know How Much More Clear I Can Be’: SEC Chairman
The SEC held a public forum on June 13, “Investing In America: Atlanta Town Hall Meeting.” The town hall was highly anticipated because regulators planned on speaking about cryptocurrency regulations and innovation. The session was open to the public and streamed live on the SEC website.




ETH/USD Has gained 9.61% in the last 24 hours, the price reached $494 showing what would be a good rebound signal and quickly weakened sending the price to $463, then came a big and unexpected buyers movement that sent the price over the immediate resistances and its moving right now at $516, just over the 100-EMA .

With this movement, the indicators changed to point up, which indicates that there may be a good upward journey.

 Market sentiment

1-hour chart Technical indicator show Bullish Momentum.

Pivot Points

R3 554.7 
R2 528.5 
R1 502.2 
P 476
S1 449.7 
S2 424.1 
S3 397.9


The price of TRON reports an increase of 4.10% today, Thursday, bouncing strongly in the pivot R1 in this 4H chart and its current price is $0.0413. TRON continues its Bearish trend and it seems that it wants to stay in the middle of the Bearish Channel.

For now, the Central Pivot Point is holding the price but a breakout of this could take it to the bottom of the channel, On the positive side we see that indicators are leaving the oversold area and pointing up. What can keep the price above the Central Pivot Point?

Market sentiment

4-hour chart Technical indicators pointing up, Bearish.

Moving averages separated and pointing down, showing sell signs.

Pivot points

R3 0.0511
R2 0.0477
R1 0.0443
P 0.0408
S1 0.0375
S2 0.0340
S3 0.0306

The price of the XRP reports a slight increase of 1.73% in the last 24 hours without showing a significant recovery and remains below $0.55, the price did not reach in its short recovery at the R1 Pivot in this 4-hour chart and its moving now at $0.5484. This level is important to maintain as it would avoid more losses in the short term.

 The resistance of $0.55 in R1 is quite strong and there must be a significant buyer impulse to take it above $0.56.

Market sentiment

4-hour chart Technical indicators pointing up, Bearish.

Moving averages crossing possible bearish movement.

Pivot points

R3 0.6176
R2 0.5899 
R1 0.5601
P 0.532 
S1 0.5016
S2 0.4739
S3 0.4431


The market is stressed after the long drops of the current week, buyers should appear in any moment to take advantage of the minimums in many pairs.


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