The crypto market received more than $23 billion in 24 hours, and the top 100 currencies are in green, some of them with more than 20% winnings in this incredible rally made by BTC yesterday. Five of the top 10 currencies rose more than 10% and Cardano was the one who won the most with 16.55%.
Top Gainers of the week
- Selfkey KEY 147.80%
- Upfiring UFR 77.83%
- SalPay SAL 72.95%
- Power Ledger POWR 60.74%
- SRCOIN SRCOIN 57.66%
Top Losers of the week
- Uquid Coin UQC -21.27%
- BitcoinX BCX -18.59%
- Experience Points XP -14.52%
- SpankChain SPANK -11.31%
- Dignity DIG -9.59%
General Overview
Market Cap: $256.803.968.141
24h Vol: $15.152.475.558
BTC Dominance: 42.7%
Cardano, Bitcoin, Ethereum, and Bitcoin Cash are Today’s Big Gainers as the incoming volume of the market increased by more than 23 billion, this transformed into gains for the majority of the cryptos with earnings at this time of 8.40% for the BTC, 9.74% for ETH, 7.97% for XRP and 12.89% for BCH; the other currencies also had significant gains during the session.
Cryptocurrency Charts Live
BTC/USD
The price of BTC increased $642 in just 3 hours of a rally, going up to $6,520 exceeding Pivot R1 but for a short time since the price stabilised at this level. The price also crossed the upper line of the descending channel and it is likely that if the bears generate some pressure in the next few hours we can see it return to the channel.
Oscillators and indicators are showing that BTC momentum is slowing down, the RSI and stochastic are showing
overbought levels and pointing down, this could lead to the price to lose some value in the short term.
Market sentiment
4-H chart technicals signal a Bullish sentiment.
Oscillators are in overbought zone pointing down.
Pivot Points R3 6915.15 R2 6606.23 R1 6404.23 PP 6095.31 S1 5893.31 S2 5584.39 S3 5382.39
ETH/USD
ETH has gained 8.84% in the last 24-H due to the big rally behind bitcoin yesterday, the price of ETH is currently at $447.5 being held by the EMA-50 on this 4-hour chart and is also stopped by the Pivot R1.
The pair are still inside the bearish channel and it is possible to see a retracement due to the indicators pointing down and the overbought levels that can let the bears enter the market in the next hours.
Market sentiment
ETH 4-H chart technicals signal a Bullish sentiment.
Oscillators are showing sell signals and pointing down.
Pivot points
R3 487.85 R2 465.12 R1 450.15 PP 427.42 S1 412.44 S2 389.71 S3 374.73
LTC/USD
LTC has gained 10.72% in the last 24-H following the BTC path yesterday as did most of the cryptos. The pair had a big rise of 11 dollars but the strength was not enough and pivot R1 was stronger which bounced the price in this line around the $82 mark. At this time the price is close to $80.90 and setbacks are expected due to the high overbought levels as there are no fundamentals that can move the market this weekend.
Market sentiment
ETH 4-H chart technicals signal a Bearish sentiment.
Oscillators are showing sell signals and pointing down.
Pivot points
R3 90.2440
R2 85.3851
R1 82.2097
PP 77.3507
S1 74.1753
S2 69.3164
S3 66.1409
Conclusion
The recent increase in price in the BTC is more than a bull cycle or a change in trend, this was an unexpected gain in value for most of the cryptos and it is most likely that most of them will return a little of yesterday’s winnings.
Related posts
Daily Crypto Review, August 26 – Bitcoin in a Downtrend; Altcoins Following Bitcoin
Daily Crypto Review, Jan 6 – Bitcoin Retraces after Creating a New All-Time High; Sector in the Green
Daily Crypto Review, Jan 8 – Bitcoin Continues Its Rise as it Breaks the $40k Mark Briefly
Daily Crypto Review, Jan 11 – Crypto Sector Plummets as BTC Drops to $32k