General overview
- Market Cap: $288,355,459,859
- 24h Vol: $13,743,240,958
- BTC Dominance: 45.9%
From Friday’s low at 280B the evaluation of the cryptocurrency market cap has even lower on Saturday to around 272,506,000,000$ which was the weekends low. After that, the evaluation has been steadily rising and is now sitting just slightly below 290B.
The market is mostly in green, with an average percentage of change among top 100 coins ranging from 3-8%. The biggest gainer is Holo who increased by a staggering 64%. Next is Bitcoin Diamond with an increased of 52% and two-three more coins have shown gains of around 12%.
News
Two of the 12% gainers that are mentioned are Nuls and Augur. Fundamental are impacting the price, and the traction is picking up creating a small hype around them for now, but I will look if this hype increased over the next day or so.
NULS Spikes as Binance Backs Mainnet Token Swap
Nuls (NULS), the virtual coin of a project for a commercial blockhain ecosystem, leapt nearly 14% on a daily basis on Monday morning (UTC), reaching $2.76, a level not seen since mid-June, when the project announced its main network (mainnet) token swap. The possible reason for NULS price growth, which was one of the largest this morning, may be the announcement of Binance support for the NULS swap.
Augur (REP) Price Booms as Betting on its Platform Picks Up
REP prices have been picking up again, adding more than 26% overnight to reach $37.36 as of 4:30 UTC. The jump in prices comes on the back of surging volumes, with trading of REP against BTC on Binance gaining notable traction. Still, the most active trading of Augur, almost half of the total volume, happens on Upbit, against the Korean Won.
Source: Coinvest
Analysis
BTC/USD
From yesterday’s low at 7331$ the price of Bitcoin has increased by 4,39% and is now trading at around 7696$.
Bitcoin has reached another significant resistance level at the 0.236 Fibo line where also the resistance line of the triangle from the daily chart is.
Market sentiment
Bitcoin is in the buy zone.
Pivot points
S3 6942.1 S2 7188.0 S1 7292.8 P 7433.9 R1 7538.7 R2 7679.8 R3 7925.7
XRP/USD
The price of Ripple has been hovering around the same levels from Friday, and the price hasn’t changed much.
As you can see from the hourly chart, the price is sitting around 0 Fibonacci retracement levels.
Market sentiment
Hourly chart technicals signal a sell.
Pivot points
S3 0.41922 S2 0.43596 S1 0.44238 P 0.45270 R1 0.45912 R2 0.46944 R3 0.48618
LTC/USD
The price of Litecoin has changed by only 1,1% since yesterday’s low at 82$.
As you can see on the chart things are looking pretty calm, which is why I am expecting some more sideways movement.
Market sentiment
Hourly chart technicals signal a sell.
Pivot points
S3 77.505 S2 80.100 S1 81.160 P 82.695 R1 83.755 R2 85.290 R3 87.885
Conclusion
The market is experiencing some short-term sideways movement and in the following day, we will see where this trend wants to go.
