The market today is again in red with 92 of the top 100 in the negative territory, brief bullish signals are not enough to put the currencies in green and a successful attack on South Korea’s largest crypto exchange Bithumb can send the prices down again during this week.
General Overview
Market Cap: $283.698.523.519
24h Vol: $12.865.375.764
BTC Dominance: 40.0%
Cryptocurrency Market News
3 Hacks in 12 Months: The Reasons Behind Crypto Exchange Bithumb’s Failings
South Korea’s biggest cryptocurrency exchange Bithumb, which has been the most trusted digital asset trading platform within the country alongside UPbit, Coinone, and Korbit over the past few years, has been hacked for the third time in 12 months.
Australia’s Tax Office is Using a ‘100-Point’ Check System to Chase Crypto Traders
The Australian Tax Office (ATO) has cast a wide net to investigate crypto investors after classifying cryptocurrencies like bitcoin as ‘assets’, liable for capital gains taxes.
Siacoin Mining Malware Generates Nearly $1 Million in China-based Attack, 16 Arrested
Cryptjacking is fast becoming a popular way for cyber crooks to make money. For instance, around 5% of the cryptocurrency Monero currently in circulation is estimated to have been mined fraudulently, according to security firm Palo Alto Networks.
Retail Adoption of Crypto Would “Bring the Internet to a Halt” – BIS Report
The Bank of International Settlements (BIS) has leased a chapter from its forthcoming annual report that delivers a critical appraisal of bitcoin and cryptocurrency.
Source: ccn.com
Analysis
IOTA/USD
IOTA is trading positive in the last hours, very close to the critical price of $ 1.00 and has not been affected by the Bithumb hack that is considered as a bearish factor.
The next resistance for the pair is $1.21 and then $1.35 and $1.38 (R1 Pivot). On the downside, supports are in $1.00 S1 Pivot and psychological level, a breakout here could send the price to $0.94.
Market sentiment
4-H chart technicals signal a sell sentiment.
Oscillators are showing buy signals and pointing up.
Pivot points
R3 1.72 R2 1.59 R1 1.38 P 1.25 S1 1.03 S2 0.90 S3 0.69
ADA/USD
ADA has lost 1.17% in the last 24 hours and continues to move within a narrow range in the last six days, the support at $0.1567 is still tested but the rebounds are permanent, the EMA-50 is still approaching the support and it is very likely that the price will break down.
Market sentiment
4-Hourly chart technicals signal neutral.
Pivot points
R3 0.2192 R2 0.2005 R1 0.1801 P 0.1614 S1 0.1413 S2 0.1226 S3 0.1021
XRP/USD
XRP has lost 0.55% in the last 24 hours and has not been able to move above the resistance at $0.5620, and the EMA-50 is also bouncing the price in the absence of strong buyers.
Market sentiment
4-Hourly chart technicals signal neutral.
Oscillators are pointing up.
Pivot points
R3 0.6805 R2 0.2005 R1 0.5831 P 0.5431 S1 0.4858 S2 0.4469 S3 0.3896
Conclusion
Cryptocurrency Market News: The market is in a complete red dot today, the buyers are absent and nervous because they do not want to involve themselves in risks facing the possibility of new drops, I think the market will continue like this for the rest of the week without many bullish movements and in the control of the sellers.
