The market is in green again and after the unexpected positive movement in all the charts yesterday, there is a question in the air and it is; how manipulable is the market and where these unexpected movements come from when it is evident that there is no important fundamental news especially in BTC which is the currency that moves the others?
General Overview
Live Crypto News:
Market Cap: $293.010.746.832
24h Vol: $13.905.498.839
BTC Dominance: 39.8%
The capitalization of the market continues to rise as well as the daily volume, this may mean that we could have a continuation of the increases if there is a strong enough push in the buyers.
Live Crypto News
TRON [TRX] the only double-digit gainer among top 50 [24 hrs].
Source: ambcrypto
‘Flaws’ in Japan’s Biggest Crypto Exchanges Will See Regulator’s Warnings
A handful of major Japanese exchanges including bitFlyer, Japan’s biggest and best-funded crypto trading platform, are facing business improvement orders from the country’s financial regulator and watchdog.
Source: ccn.com
‘A Moral Hazard’: Bank of Korea Opposes Central Bank Digital Currency
The Bank of Korea (BoK) has revealed it is against the idea of issuing a central bank digital currency following a feasibility review.
Source: ccn.com
Active Blockchain Projects in Use? Logistics is Overtaking Finance
Many predicted that finance would be among the first innovators in the blockchain. Harvard Business Review concluded that education about blockchain is no longer lacking in finance as it is in industries like manufacturing, predicting we’ll see finance projects finished first.
Source: ccn.com
Analysis
ETH/USD
Ethereum responded positively to the markets rise yesterday which represents gains of 7.37% in the last 24 Hours, after the breakout of the critical resistance of $520 the pair reached pivot R1 in $540 and at this moment is trying to cross this line. Nevertheless, the EMA of 100 periods is a little lower doing its job as strong resistance at this time. The RSI is in the overbought area as well as the Stochastic so the buyer impulse may be weakened in the next hours.
Market sentiment
ETH 4h chart bullish.
Oscillators are on the overbought zone.
Pivot points
R3 629.1 R2 584.3 R1 540.6 P 494.7 S1 451.1 S2 406.5 S3 362.2
TRON/USD
TRON has gained 16.32% in the last 24 hours, apparently due to the negotiations that have already been made public about reports that founder Justin Sun is up to close a deal to acquire BitTorrent.
Now TRX is trading at $0.049, up from $0.041 from yesterday; the price has crossed the pivot R1 and now is trying to beat the EMA-100 after crossing the upper line of the descendant channel. If buyers pressure is strong enough the price should stay above the R1 for the next hours, waiting for a trend change that is not yet confirmed, the RSI and Stochastic indicators are in an overbought area which could send the price back to the channel.
Market sentiment
TRX 4H chart is showing Bullish.
Oscillators are on the overbought zone.
Pivot points
R3 0.0599 R2 0.0545 R1 0.0484 P 0.0428 S1 0.0369 S2 0.0313 S3 0.0252
ADA/USD
ADA has gained 4.55% in the last 24H but has been moving within a narrow range in the last week, the price has not reacted to the latest news that says Cardano has been added to a tradable asset on eToro.
The support at $0.155 has been tested several times while the immediate resistance is at $0.1721. My appreciation for the pair is of a bearish continuation in the medium term, even though the indicators have already left the overbought area.
Market sentiment
ADA 4H chart is showing Bearish.
Oscillators are pointing up in and over the 50 level.
Pivot points
R3 0.2194 R2 0.2003 R1 0.1804 P 0.1614 S1 0.1414 S2 0.1224 S3 0.1029
Conclusion
Live Crypto News: Difficult levels were overcome in the short term for many pairs but nothing is certain for the next sessions. Most of the cryptocurrencies are in green due to the unexpected yesterdays rise, but there is a lack of clarity about these movements and very likely the tendencies that were strong in the main pairs will be recovered; but if capital continues to enter the market it will help the main Cryptocurrencies to recover all the critical levels lost the last week.
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Happenings in the Cryptoverse
Daily Crypto Review, Oct 10 – Market pushes up again, majority of cryptocurrencies in the green
Daily Crypto Review, May 13 – Bitcoin Pushing Towards 9,000; WBTC Larger than BTC’s Lightning Network
Daily Crypto Review, May 14 – Bitcoin near $9,500; German Bank Offers Interest-Yielding BTC Accounts