Home Crypto Crypto Market Analysis Daily crypto update 23.07.2018

Daily crypto update 23.07.2018

8
0

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here