Market Cap: $393,028,123,788
24h Vol: $21,794,182,916
BTC Dominance: 38.2%
During the weekend evaluations of the cryptocurrency market capitalization went from 395,120,000,000$ to 367,852,000,000$ on Saturday, and has been rising steadily since then, coming at around 393 billion dollars where is now sitting.
There is no significant news that can impact the market. Most dominant headlines are about the percentage gains made by cryptocurrencies and are mostly optimistic in sentiment.
Bitcoin Brushes $9,000 As Crypto Markets Continue Making Steady Gains
Bitcoin (BTC) is on the cusp of $9,000, and Ethereum (ETH) is over $630, as the crypto markets continue to climb upwards today, April 22, according to data from Coin360.
Source: Molly Jane Zuckerman, April 22. cointelegraph.com
Buyers Control the Cryptocurrency Market More Than Any Time Since March 2017
The percentage of cryptocurrency traders ‘in the buy’ has reached the highest level in over a year, a strong sign that the market’s two-week recovery has more room to grow.
Source: Sam Bourgi, Aprill 22. hacked.com
This kind of news may impact the market positively because investors may be grabbed by their attention.
In the last day, the price of Bitcoin has been stagnating at around the levels of the prior high on March 20-24. As you can see from the daily chart, 22. April candle was a doji, and the price has been held by 100-day EMA.
The current market sentiment for Bitcoin is positive, meaning out of 150 mentions in total 74% are positive.
Looking at the hourly chart, we can see that the price has bounced off the 50-period EMA and is now looking to potentially cross it below, to retest the 100 EMA before advancing further to the upside.
Overall hourly chart signals a buy.
Since yesterday the price of Ethereum has been rising from 594$ to 642$, and it retraced since to 634$. Looking at the daily chart, we can see that the price is held back by 100 day EMA, but it’s on a steep upward trajectory.
The current sentiment is positive, meaning out of 50 mentions in total 78% are positive.
Looking at the hourly chart, we can see that the price is almost going to hit 1.618 Fibonacci level, which in combination with the 100-day EMA on the daily chart is going to serve as a strong resistance.
Overall, hourly chart signals a buy.
In the last 24 hours price of Ripple is stagnating on the same levels around 0.86$. As you can see from this daily chart, the price went above 100-day EMA and 100% Fibo level. Since then it has fallen back to exactly to the Fibo level to retest it for support.
The current market sentiment for Ripple is positive, meaning out of 70 mentions in total, 75% are positive.
Looking at the hourly chart, we can see the interaction between the Fibonacci level and the 50 EMA.
Overall, hourly chart signals a sell.
After the market experienced a run-up, the prices are starting to get held back from advancing further, by first stronger resistance served by 100-day EMA’s and significant Fibonacci levels. Will the price breach out to the more upside, or retrace back to retest prior support we will just have to wait and see. However, Ripple can offer some clues on what is likely going to happen, as Ripple was the first cryptocurrency that showed advancement in this upward move.