Crypto Market Analysis

Daily Crypto Update 18.06.2018 – Quiet But Scared Market

The market today started in red for most of the 100 top cryptos with loses between -0.2% and -7%, while many buyers are with their fingers on the trigger waiting for the $ 5700 BTC level to put their money inside the market for a rally higher and good profits.

General Overview

Market Cap: $275.605.476.514

24h Vol: $10.142.645.562

BTC Dominance: 40.2%



This is the sentiment today, still bearish but very nervous on both sides and with bitcoin dominance back to 40%, percentage not seen in the last two months.


Bitcoin Miners in China’s Remote Regions are Undeterred By Restrictions
Though Chinese authorities have previously taken various measures aimed at curtailing the trading of cryptocurrencies, the mining of Bitcoin has continued unabated in some of China’s remote parts according to a Nikkei Asian Review report.

Ripple Donates $2 Million to Texas University’s Blockchain Initiative
One of 17 institutions chosen for Ripple’s $50 million academic pledge, the University of Texas at Austin will receive $2 million from San Francisco-based industry giant Ripple.

Korean Authorities Admit to Postponing Cryptocurrency Regulation Because it Legitimises Market
Authorities have admitted that the South Korean government had postponed the regulation of the cryptocurrency sector because it feared consumers will acknowledge it as the government legitimising the cryptocurrency market.

Walmart Patents System for Accessing Medical Records Stored on a Blockchain
Big-box retailer Walmart has been awarded a patent for a system that is designed to store a patient’s vital medical records in a blockchain database. The information can then be retrieved at the scene of an emergency when a patient is unresponsive and can’t communicate with first responders.

Japanese Police Arrest 16 Individuals in Monero Cryptojacking Case
Cryptojacking is the process of installing mining scripts or outright malicious malware onto computers of unsuspecting users to mine cryptocurrencies. The most popular among these is Coinhive, a javascript mining script installed on websites. Hackers have been installing Coinhive on websites with weak security to mine Monero. Since Monero is a privacy coin, it makes it harder to catch criminals.




NEO has lost -1.33% in the last 24 hours and -19% of its value in just 1 week. The price of the pair has been sidelined since June 13, when it touched the lower part of the Bearish Channel at $35.9 and bounced there until it reached $41.5, today it is moving in $37.1 below the Central Pivot Point and the indicators are shown in the oversold area.

The week begins bearish for the pair and the EMA’s are separating which indicates that lower minimums can come, the immediate support is in $35.8 and then the Pivot S1 in $33.7.

Market sentiment

4-H chart technicals signal a sell sentiment.

Oscillators are showing sell signals, and moving averages a strong sell.

Pivot points

R3 56.7
R2 51.8
R1 45.2
P 40.4
S1 33.7
S2 28.8
S3 22.3


EOS has lost -2.10% in the last 24 hours and -33% in just 9 days, for now, it is moving at $10.2, below the Central Pivot Point and a little lateralised after having reached the Fibonacci retracement of 38.2 of the last drop, bouncing there and sending the price below the 23.6% retracement.

The Stochastic is showing oversold and the RSI is leaving the same area pointing up although the sentiment is still Bearish. For now, the price moves in the central part of the channel very close to the psychological number of $10 and the immediate support is $9.8 and below $9.1, minimum from last June 13th. The Central Pivot Point has also become important resistance and a bounce there could send the price quickly to the S1 pivot.
EOS network was frozen for several hours this weekend due to a bug in its consensus protocol. The EOS community went into panic however the price did not react negatively. EOS released a patch yesterday that restored the network functionality.

Market Sentiment

4H chart technicals signal Bearish.

Oscillators are on sell, and moving averages on a strong Sell.

Pivot points

R3 5.2
R2 13.7
R1 12.0
P 10.5
S1 8.8
S2 7.4
S3 5.7


Two good news for Cardano this week: It was added to a tradable asset on eToro and will be added to CopyFund, this is an investment portfolio from eToro. The downtrend is still alive in ADA and it is now testing the support area of $0.1569.

The buyers did not have enough strength to cross the 38.2 Fibonacci retracement and now the price is moving into a narrow range.


Market sentiment

4-Hourly chart technicals signal neutral.

The stochastic is in the oversold levels and the gap between the 100-200-50 EMAS is widening which is showing that the sellers have the power.

Pivot points

R3 0.2192
R2 0.2002 
R1 0.1804 
P 0.1614 
S1 0.1411 
S2 0.1226 
S3 0.1021


The price is below the moving averages in these cryptos, while a bearish momentum will continue to manage the prices in the medium term. The sellers still have the influence in the market and there is a real expectation of new lows in the charts.


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