Tag: bitcoin

The cryptocurrency sector has experienced a pullback as Bitcoin went under its $11,500 support. Bitcoin is currently trading for $11,425, representing a decrease of 0.31% on the day. Meanwhile, Ethereum gained 0.09% on the day, while XRP lost 0.52%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies, we can see that PumaPay gained 13.55% in the past 24 hours, making it the top daily gainer. ABBC Coin (9.05%) and Uniswap (6.64%) also did great. On the other hand, Solana lost 7.81%, making it the most prominent daily loser. It is followed by Loopring’s loss of 6.9% and Kusama’s loss of 6.77%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has decreased slightly since our last report, with its value currently being 60.24%. This value represents a 0.16% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has lost a bit of its value over the course of the past 24 hours. Its current value is $361.98 billion, representing a decrease of $5.11 billion compared to our previous report.

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What happened in the past 24 hours?

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• Government agencies help Chainalysis double its recurring revenue in Q3 (The Block)
• An analysis of Chainlink node operator earnings (The Block)
• Coinbase’s chief compliance officer is set to leave the firm (The Block)
• Fund manager on why DeFi’s Yearn.finance (YFI) dropped 75% from highs (Cryptoslate)
• Ethereum leads with 96% of all DeFi transactions as Tron, EOS, and NEO show promise (Cryptoslate)
• India’s First Bitcoin Exchange Proposes Regulatory Sandbox Over Ban (Cryptobriefing)
• Market Wrap: Bitcoin Slips to $11,300; Ether Locked in DeFi Is Flat (Coindesk)
• Security token trading volume crashed by 60% in September (Cointelegraph)
• Move over S2F — Model creator says ‘90% chance’ BTC never dips below $11K again (Cointelegraph)
• Tether’s market cap could overtake Ethereum’s next year — Bloomberg report (Cointelegraph)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap went into pullback mode as it couldn’t stay at its daily high of a little over $11,700. Bitcoin’s bull exhaustion triggered a pullback, which then broke the $11,500 support level to the downside, putting the cryptocurrency boxed in between $10,300 support and $10,500 resistance level. With the volume decreasing and RSI dropping down, we may expect sideways trading in the short-term before another attempt of (mostly likely) upwards motion.

Many analysts say that Bitcoin has almost no chance of going under $11,000 and that the most recent break above it has turned Bitcoin’s sentiment into a bullish one. However, if Bitcoin manages to go under $11,000, we may expect that the move will continue downwards quickly.

BTC/USD 4-hour Chart

Bitcoin’s technical overview is extremely bullish on all time-frames, with longer time-frames showing even stronger bull overview than the shorter ones.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and 21-period EMA
• Price is at the middle Bollinger band
• RSI is descending (57.23)
• Volume is above-average (descending

Key levels to the upside          Key levels to the downside

1: $11,500                                 1: $11,300

2: $11,630                                 2: $11,180

3: $12,000                                  3: $11,000

Ethereum

Ethereum also experienced a pullback from its highs as ETH bulls couldn’t go past $496. However, unlike Bitcoin, Ethereum didn’t break any support levels during the move towards the downside. As it bounced off of the $378 support level, it continued moving alongside a very steep upwards-trending line, which is a very bullish short-term sign.

While moving alongside this line is unsustainable in the long-term, Ethereum might experience some more stable gains in the next couple of days.

ETH/USD 4-hour Chart

Ethereum’s 1-day and weekly overviews extreme tilt towards the bull-side, while its 4-hour and monthly overviews show a bit of indecisiveness, though they are still bullish.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and its 21-period EMA
• The price slightly above its middle Bollinger band
• RSI is neutral (60.70)
• Volume is elevated (descending to average)

Key levels to the upside          Key levels to the downside

1: $378                                     1: $371

2: $400                                     2: $360

3: $415                                      3: $334

Ripple

XRP is known for being less correlated to Bitcoin’s movements than most other cryptocurrencies, which it has shown today as well. The third-largest cryptocurrency by market cap has traded sideways and hasn’t experienced any pullbacks. It has been trading alongside the upward-trending (yellow) line, which will force XRP to either go under it or face its resistance at the $0.26 level. In the meantime, however, we may expect low volatility.

XRP/USD 4-hour Chart

XRP’s technicals are quite inconsistent, as its daily and weekly overviews show quite a bullish tilt, while its monthly overview is almost completely bearish. Its 4-hour overview is leaning towards the buy-side but is quite neutral.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA as well as its 21-period EMA
• Price is at its middle Bollinger band
• RSI is flat (52.19)
• Volume is average but descending

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227

 

The cryptocurrency sector has experienced another surge as Bitcoin moved away from $11,300 and closer to $11,500. Bitcoin is currently trading for $11,434, representing an increase of 0.89% on the day. Meanwhile, Ethereum gained 3.35% on the day, while XRP gained 0.03%.

 Daily Crypto Sector Heat Map

Taking a look at the top 100 cryptocurrencies, we can see that Ocean Protocol gained 21.97% in the past 24 hours, making it the top daily gainer. CyberVein (14.58%) and Synthetix Network Token (11.83%) also did great. On the other hand, Ren lost 14.83%, making it the most prominent daily loser. It is followed by PumaPay’s loss of 8.33% and Uniswap’s loss of 3.33%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has decreased slightly since our last report, with its value currently being 60.40%. This value represents a 0.26% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has a bit more value over the course of the past 24 hours. Its current value is $366.13 billion, representing an increase of $7.71 billion compared to our previous report.

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What happened in the past 24 hours?

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• Grayscale’s Ethereum Trust joins GBTC as SEC-registered reporting company (The Block)
• Report: G7 financial leaders say they will oppose Libra until it is ‘adequately’ regulated (The Block)
• Another CME Gap? Why Bitcoin Traders Should Care (Cryptobriefing)
• Ethereum Gets Privacy-Focused Layer-2 Scaling Solution with Aztec 2.0 (Cryptobriefing)
• Aave Raises $25 Million in the Round Led by Blockchain.com (Cryptobriefing)
• Why investors are optimistic after “painful” DeFi correction despite YFI plunge (Cryptoslate)
• With China’s central bank digital asset gaining steam, Bitcoin is stronger than ever (Cryptoslate)
• Short the dollar: How Goldman’s bearish stance uplifts Bitcoin Q4 sentiment (Cointelegraph)
• Ledger wants to help MicroStrategy secure its $400m Bitcoin treasury (Cointelegraph)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has continued its push towards the upside, getting past $11,500 and even close to the $12,000 mark. The move died out when it approached $11,750. Bitcoin is now in the pullback phase, where its price has breached $11,500 to the downside and is testing how low it can go until the bulls step in again.

Traders should pay attention to how Bitcoin handles the $11,300-$11,500 level when looking for their next trade.

BTC/USD 4-hour Chart

Bitcoin’s technical overview on all time-frames is tilted towards the buy-side, with longer time-frames showing an extremely strong bull overview.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and 21-period EMA
• Price descending from the top Bollinger band
• RSI is descending from almost-overbought levels (62.46)
• Volume is above-average

Key levels to the upside          Key levels to the downside

1: $11,500                                 1: $11,300

2: $11,630                                 2: $11,180

3: $12,000                                  3: $11,000

Ethereum

Ethereum has had another bull-run in the past 24 hours, with its price reaching as high as $396. However, the second-largest cryptocurrency by market cap couldn’t reach past the $400 mark, triggering bull exhaustion, and ultimately a pullback. With volume and RSI dropping, we may expect Ethereum to look for a price to consolidate a bit lower than its current price, and possibly test the $371 support level.

ETH/USD 4-hour Chart

Ethereum’s 1-day and monthly overviews show some signs of doubt in the bullish sentiment, while its 4-hour and weekly overviews are completely bullish.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and its 21-period EMA
• The price at its top Bollinger band
• RSI is flat and nearly overbought (66.74)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $378                                     1: $371

2: $400                                     2: $360

3: $415                                      3: $334

Ripple

Unlike Bitcoin and Ethereum, which both had a strong bull presence today, XRP has been trading sideways for most of the day. Its inability to reach past the $0.26 level has proven to be a problem, and we may expect XRP’s price to collide with the ascending trend line very soon. There is a small probability that XRP will reach past $0.26 and get close to $0.266, but it will most likely happen with Bitcoin’s help (though it is more likely that XRP will face the ascending line first).

XRP/USD 4-hour Chart

XRP’s 1-day technicals show a hint of doubt in its short-term bullish sentiment, while the 4-hour and weekly overviews are completely bullish. However, XRP’s monthly overview is still completely tilted towards the sell-side.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA as well as its 21-period EMA
• Price is at its middle Bollinger band
• RSI is flat (55.33)
• Volume is average but descending

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227

 

The cryptocurrency sector has experienced a surge over the weekend as Bitcoin pushed above $11,000. Bitcoin is currently trading for $11,319, representing a decrease of 0.25% on the day. Meanwhile, Ethereum gained 0.09% on the day, while XRP gained 0.32%.

 Daily Crypto Sector Heat Map

Taking a look at the top 100 cryptocurrencies, we can see that Ren gained 27.02% in the past 24 hours, making it the top daily gainer. Monero (9.75%) and Cosmos (7.98%) also did great. On the other hand, Loopring lost 7.99%, making it the most prominent daily loser. It is followed by StorJ’s loss of 6.76% and PumaPay’s loss of 6.54%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has decreased slightly since our last report, with its value currently being 60.66%. This value represents a 0.67% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gained quite a bit of value over the course of the weekend. Its current value is $358.48 billion, representing an increase of $14.33 billion compared to our previous report.

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What happened in the past 24 hours?

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• Web traffic to cryptocurrency exchanges fell by over 14% in September (The BlocK)
• Bitcoin transaction values and fees grew in 2020’s third quarter (The Block)
• Monthly Ethereum futures volumes hit all-time high in September (The Block)
• “Don’t vacation yet”: Stablecoin supply suggests Bitcoin and altcoins could rally further (Cryptoslate)
• If all US companies followed Square, $250 billion could enter Bitcoin (Cryptoslate)
• Ethereum Miner Revenues Triple from DeFi, Approaches Parity with Bitcoin (Cryptobriefing)
• Technicals Show Tezos Prices Ready for an Impressive Upswing (Cryptobriefing)
• Cosmos Technicals Present Golden Profit Opportunity (Cryptobriefing)
• Spanish lawmakers get crypto in a bid to promote industry (Cointelegraph)
• More investors HODL Bitcoin as they anticipate a 2021 BTC bull market (Cointelegraph)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has continued its push towards the upside on Friday/Saturday, reaching as high as $11,500. The move has died out since, and Bitcoin is now trading in a narrow range between the $10,300 support level and $10,500 resistance level (61.8% Fib retracement). The volume seems to be dying off, while the RSI is descending, which may indicate a short window where traders shouldn’t expect much volatility, but rather trade within this range. However, Bitcoin cannot stay locked up in such a narrow range for too long and will have to make another move in the short future.

BTC/USD 4-hour Chart

Bitcoin’s technical overview is tilted towards the buy-side overall, but its short-term (4-hour and 1-day) technicals are a bit mixed up, with oscillators questioning the bullishness. However, its long-term outlook is completely bullish

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and 21-period EMA
• Price is near the middle Bollinger band
• RSI is descending from almost-overbought levels (66.90)
• Volume is descending

Key levels to the upside          Key levels to the downside

1: $11,500                                 1: $11,300

2: $11,630                                 2: $11,180

3: $12,000                                  3: $11,000

Ethereum

Ethereum’s movement over the weekend was similar to Bitcoin’s, with its price skyrocketing on Friday/Saturday, only to consolidate after the move ended. Ethereum bulls reached exhaustion after the price hit the 38.2% Fib retracement, and started consolidating right below it. Just as with Bitcoin, Ethereum is stuck within a range, bound by $371 to the downside and $378 to the upside.

Ethereum’s flat (and nearly overbought) RSI and descending volume indicate that Ethereum is preparing for a move.

ETH/USD 4-hour Chart

Ethereum’s short-term technicals are somewhat unclear, with its 4-hour overview turning to bullish and 1-day overview still being tilted towards the sell-side quite heavily. On the other hand, its long-term technicals are quite bullish.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and 21-period EMA
• The price is near its middle Bollinger band
• RSI is flat and nearly overbought(66.85)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $378                                     1: $371

2: $400                                     2: $360

3: $415                                      3: $334

Ripple

While XRP has also moved over the weekend, its move was not as significant as Bitcoin’s or Ethereum’s move. This is simply because it did not break any recent resistances, but rather got stuck at the same one it couldn’t get past on Oct 6. XRP is now consolidating at around $0.255, and we may possibly see a pullback to the orange ascending line as a retest of this upward-facing trend.

XRP has two possibilities now: it will either push towards $0.266 (less likely) or pull back towards the ascending line (more likely). Traders should keep in mind both of these scenarios when attempting to trade XRP.

XRP/USD 4-hour Chart

XRP’s 4-hour, 1-day, and weekly technicals are practically the same and are all tilted towards the buy-side (with oscillators being more or less neutral), while its monthly overview is heavily tilted towards the sell-side.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA and at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is descending (52.16)
• Volume is average (descending)

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227

 

The cryptocurrency sector as a whole has experienced a quick push to the upside. Bitcoin is currently trading for $10,839, representing an increase of 2.44% on the day. Meanwhile, Ethereum gained 2.91% on the day, while XRP gained 1.59%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies, we can see that UMA gained 31.88% in the past 24 hours, making it the most prominent daily gainer. The Midas Touch Gold (25.91%) and SushiSwap (18.59%) also did great. On the other hand, PumaPay lost 12.87%, making it the most prominent daily loser. It is followed by Zuba Token’s loss of 2.87% and Augur’s loss of 2.32%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has stayed at the same place since our last report, with its value currently being at 61.01%. This value represents a 0.05% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gained quite a bit of value over the course of the past 24 hours. Its current value is $343.72 billion, representing an increase of $10.6 billion compared to our previous report.

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What happened in the past 24 hours?

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• A researcher debunks the Stock-to-Flow model, likens Bitcoin to a ‘tech stock’ (Cointelegraph)
• Bitcoin price fundamentals in ‘moon mode’ as BTC held on exchanges drops (Cointelegraph)
• The DOJ’s ‘Crypto Enforcement Framework’ Argues Against Privacy Tools and for International Regulation (Coindesk)
• JPMorgan’s Blockchain Lead Is in Charge of Ethereum-Based Interbank Information Network (Coindesk)
• Monero Faces Multi-Year Resistance as Technicals Scream Sell (Cryptobriefing)
• Cratering Yields Sends DeFi Niche into Death Spiral (Cryptobriefing)
• BitMEX parent company changes its leadership following CFTC charges (Cryptoslate)
• Square allocates 1% of its total assets to Bitcoin (Cryptoslate)
• Billionaire investor Chamath Palihapitiya just doubled down on Bitcoin in CNBC interview (Cryptoslate)
• Tether has blacklisted 100 addresses on Ethereum, network data shows (The Block)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has broken its triangle formation towards the upside after a bounce from the $10,500 support level. The massive bull presence had brought the price just under $11,000 before BTC started to pull back and seek an appropriate level to consolidate at. At the time being, Bitcoin is fighting for $10,850, and staying above, it would be a major precursor to its future possible push towards $11,000-$11,300.

Traders should pay close attention to Bitcoin’s price movement around the $10,850 level, as well as the ascending line (pink), and trade based on how the price reacts to these levels.

BTC/USD 4-hour Chart

Bitcoin’s technical overview has turned bullish overall, with every single time-frame being bullish. While its weekly and monthly overviews were bullish for months now, its daily and 4-hour technicals have turned bullish only after the most recent spike.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and 21-period EMA
• Price is near the top Bollinger band
• RSI is descending from almost-overbought levels (61.39)
• Volume is descending from above-average

Key levels to the upside          Key levels to the downside

1: $11,000                                 1: $10,850

2: $11,180                                 2: $10,630

3: $11,300                                  3: $10,500

Ethereum

Ethereum has moved towards the upside alongside Bitcoin, but its price movement didn’t do anything as impactful as Bitcoin’s price. While the bounce from the $344 level was significant, it could not reach, let alone pass, the $360 level. Ethereum’s short-term future is certainly within this range, which traders can make use of.

Once again, we will point out an extremely high chance of Ethereum staying between $334 and $360.

ETH/USD 4-hour Chart

Ethereum’s short-term technicals are somewhat unclear, with its 4-hour overview turning to bullish and 1-day overview still being tilted towards the sell-side quite heavily. On the other hand, its long-term technicals are quite bullish.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and 21-period EMA
• The price is near its middle Bollinger band
• RSI is neutral (54.08)
• Volume is below average (one-candle spike)

Key levels to the upside          Key levels to the downside

1: $360                                     1: $334

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP has used Bitcoin’s move towards the upside to fuel its own move and established itself above the $0.2454 level. The third-largest cryptocurrency by market cap has bounced off the ascending line (and not the $0.2454 level this time) dating back from Sep 24 and pushed up, reaching as high as $0.253 before ending the move.

Traders should pay attention to any sharp increases in volume, as well as how XRP handles the immediate support and resistance levels. Most analysts are currently quite bullish on XRP, mostly when it comes to 1-hour and 4-hour charts.

XRP/USD 4-hour Chart

XRP 4-hour, daily, and weekly technicals are quite bullish, while its monthly overview is tilted towards the sell-side.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA and its 21-period EMA
• Price is close to its middle Bollinger band
• RSI is neutral (55.13)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227

 

The cryptocurrency sector as a whole has experienced a slight decrease as Bitcoin continued to path towards the downside. Bitcoin is currently trading for $10,525, representing a decrease of 0.47% on the day. Meanwhile, Ethereum lost 0.95% on the day, while XRP lost 1.09%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies, we can see that Ren gained 11.19% in the past 24 hours, making it the most prominent daily gainer. The Midas Touch Gold (9.72%) and PumaPay (7.65%) also did great. On the other hand, Hyperion lost 66.26%, making it the most prominent daily loser. It is followed by yearn.finance’s loss of 13.34% and Kusama’s loss of 11.08%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has stayed at the same place since our last report, with its value currently being at 60.96%. This value represents a 0.1% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has lost a bit of value over the course of the past 24 hours. Its current value is $333.12 billion, representing a decrease of $2.28billion compared to our previous report.

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What happened in the past 24 hours?

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• Ethereum hashrate has hit a new all-time high amid DeFi growth (The Block)
• BitMEX announces leadership changes after U.S. government charges, Arthur Hayes no longer CEO (The Block)
• Ex-JP Morgan investment banker gives 5 reasons why DeFi is reaching “escape velocity” (Cryptoslate)
• New Bitcoin addresses shoot “off the charts” despite price drop (Cryptoslate)
• Xfers Launches Fully-Regulated Digital Singapore Dollar on Ethereum and Zilliqa (Cryptobriefing)
• Ripple Rebrands Products Amidst Tentative Plans to Leave US (Cryptobriefing)
• NEO Finally Flashes Buy Signal Following a 40% Correction (Cryptobriefing)
• KuCoin Exchange Reopens Bitcoin, Ethereum Withdrawals After $281M Hack (Cryptobriefing)
• Coinbase’s ‘Mission’ Violates the Spirit of Bitcoin (Coindesk)
• Wrapped Bitcoin tops $1B after a 900% increase in two months

While the top cryptocurrencies lost only a fraction of their respective market capitalization value, the DeFi market has deflated drastically. It is estimated that the daily DeFi token trade volumes have dropped by 30% combined, while recent market leaders Sushi, Uniswap, and yearn.finance are among the hardest hit with weekly losses of as much as 51%, 38%, and 31%, respectively. On top of that, the Binance DeFi composite index dropped over 20% yesterday, and 63% from its first trading day in August.

However, this is not the end of DeFi, but rather a small pop of the inflated price bubble. The DeFi market has seen various “whales” accumulating DeFi tokens and using its protocols, which is a great sign that this part of the crypto sector is here to stay.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has continued moving down and testing its support levels. This time, Bitcoin tested the $10,500 level, which held up nicely (for now). While the immediate sentiment is certainly bearish, there isn’t enough volume to test and break the  $10,360 level, which is crucial for the future price development of Bitcoin.

While short-term traders are mostly tilted towards the sell-side due to both macroeconomic events and technical analysis, investors are quite bullish on Bitcoin simply due to how the largest cryptocurrency develops in terms of usability, adoption, and other fundamental concepts.

BTC/USD 4-hour Chart

Bitcoin’s technical overview follows what we previously said, with short-term technicals being bearish, while the longer-term ones are bullish. Its 4-hour and 1-day overview tilting towards the downside, while its longer-term technicals have remained bullish.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is below both its 50-period EMA and 21-period EMA
• Price is near the bottom Bollinger band
• RSI is neutral (42.08)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $10,630                                 1: $10,500

2: $10,850                                 2: $10,360

3: $11,000                                  3: $10,015

Ethereum

Ethereum was moving towards the downside throughout the day, testing its $334 support level once again. Trading volume faded as Ethereum couldn’t break this support, therefore staying above $334. On top of that, the near-oversold RSI oscillator shows that the move might be over for the time being.

As we mentioned many times now, traders should be careful and pay attention to any increase in volume, but should ultimately try to trade Ethereum’s movements between $334 and $360.

ETH/USD 4-hour Chart

Ethereum’s short-term and long-term technical overviews both look very similar to Bitcoin’s. While its short-term technicals (4-hour and 1-day) are heavily tilted towards the sell-side, its weekly and monthly outlooks are still quite bullish (though the bearish sentiment in short-term technicals is stronger than with Bitcoin, while the bullishness of its long-term overviews is weaker than with Bitcoin).

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is below both its 50-period and 21-period EMA
• The price is at its lower Bollinger band
• RSI is neutral (37.59)
• Volume is descending

Key levels to the upside          Key levels to the downside

1: $360                                     1: $334

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP did not differ much from the aforementioned two cryptocurrencies, and pushed towards the downside itself as well. The third-largest cryptocurrency by market cap has broken the $0.2454 level to the downside and entered the “safe zone” between $0.235 and $0.2454. However, the fight for $0.2454 is not over yet, and XRP still has a chance to regain this high, even though it is highly unlikely at this point.

XRP will most likely stay below $0.2454, and traders can use that to their advantage when trading as they could trade XRP’s sideways movements.

XRP/USD 4-hour Chart

XRP 4-hour overview is tilted towards the sell-side, while its daily and weekly overviews are completely bullish. However, its monthly overview is just as bearish as the 4-hour one, showing signs of pre-established bearish sentiment.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is at its 50-period EMA and below its 21-period EMA
• Price is close to its bottom Bollinger band
• RSI is neutral (46.60)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227

 

The cryptocurrency sector has declined slightly as Bitcoin returned to the level it was on Monday. Bitcoin is currently trading for $10,591, representing a decrease of 0.88% on the day. Meanwhile, Ethereum lost 3.04% on the day, while XRP lost 3.26%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies, we can see that PumaPay gained 6.93% in the past 24 hours, making it the most prominent daily gainer. EOS (5.08%) and Ethereum Classic (2.6%) also did great. On the other hand, Elrond lost 17.09%, making it the most prominent daily loser. It is followed by Ocean Protocol’s loss of 15.55% and Aave’s loss of 15.24%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has increased slightly since our last report, with its value currently being at 60.95%. This value represents a 0.49% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has lost quite a bit of value over the course of the past 24 hours. Its current value is $335.30 billion, representing a decrease of $7.1 billion compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin Trump-Dumps to $10,500; MetaMask Hits 1 Million Users (Coindesk)
• The US is losing ‘tech cold war with China’ says Ripple co-founder (Cointelegraph)
• 75 crypto exchanges have closed down in 2020 (Cointelegraph)
• Markets will decide on the regulations, not the government: Currency Comptroller (Cointelegraph)
• UK Bans Retail Investors from Buying Bitcoin Derivatives (Cryptobriefing)
• Ethereum’s MetaMask Reaches 1 Million Users, Grows 400% Year-to-Date (Cryptobriefing)
• Google Cloud Has Joined EOS as a BP Node (Cryptobriefing)
• Xfers Launches Fully-Regulated Digital Singapore Dollar on Ethereum and Zilliqa (Cryptobriefing)
• Silvergate’s payments platform crosses $100B in transfer volume (The Block)
• Galaxy Digital is building a one-stop financial services shop for cryptocurrency miners (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market cap has spent a day declining in price slightly, with many analysts speculating that it was because of US President Donald Trump’s tweet on his rejection of the most recent stimulus proposal. Analysts that are less concerned about fundamentals saw a potential death cross as well as Bitcoin not being able to confidently pass the ascending trend (pink line), ultimately causing a small crash.

For the time being, Bitcoin will remain range-bound by the $10,360 level to the downside and $10,850 level to the upside as main support and resistance levels.

BTC/USD 4-hour Chart

Bitcoin’s short-term technicals have turned more bullish than yesterday, with both its 4-hour and 1-day overview tilting towards the downside. However, its longer-term technicals have remained bullish.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is below both its 50-period EMA and 21-period EMA
• Price is slightly below its middle Bollinger band
• RSI is ascending (46.96)
• Volume is average (after the one-candle spike)

Key levels to the upside          Key levels to the downside

1: $10,630                                 1: $10,500

2: $10,850                                 2: $10,360

3: $11,000                                  3: $10,015

Ethereum

Ethereum was trading on increased volume in the past 24 hours, with the volume starting to ramp up as the second-largest cryptocurrency by market cap was unable to break the top Bollinger Band line. This caused a slight crash, which pulled back Ether to its support level of $334, which held up quite nicely.

As we mentioned many times now, traders should pay attention to any increase in volume, but should ultimately trade Ethereum’s movements between $334 and $360.

ETH/USD 4-hour Chart

Ethereum’s short-term and long-term technical outlook looks very similar to Bitcoin’s. Its short term technicals (4-hour and 1-day) are heavily tilted towards the sell-side, while its weekly and monthly outlooks are still quite bullish.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is below both its 50-period and 21-period EMA
• The price is at its lower Bollinger band
• RSI is neutral (40.44)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $360                                     1: $334

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP had a pullback day, where its price tried to find equilibrium after two days of pushing towards the upside. The third-largest cryptocurrency by market cap traded on increased volume, which indicated that the pullback would be more severe. The price has reached the $0.2454 support level and briefly fell under it as well. It is yet uncertain whether XRP has finished its pullback phase and remained above $0.2454, or if the fight for this level still continues.

XRP/USD 4-hour Chart

XRP 4-hour, daily, and weekly technicals are now tilted towards the buy-side, while its monthly outlook remains tilted towards the sell-side.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA and right at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (51.12)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227

 

The cryptocurrency sector has had a slow and steady day of mostly slight price increases. Bitcoin is currently trading for $10,707, representing an increase of 1.03% on the day. Meanwhile, Ethereum gained 0.7% on the day, while XRP gained 3.18%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies, we can see that the privacy coin sector did really well today. Zcash gained 6.86% on the day, making it the most prominent daily gainer. Monero (5.7%) and Quant (3.5%) also did great. On the other hand, PumaPay lost an astonishing 85.58%, making it the most prominent daily loser. It is followed by Uniswap’s loss of 14.37% and Synthetix Network Token’s loss of 11.59%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s level of market dominance has increased slightly since our last report, with its value currently being at 60.46%. This value represents a 0.16% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gained value over the course of the past 24 hours. Its current value is $342.40 billion, which represents an increase of $1.16 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• John McAfee sued by SEC for ICO promotions, arrested on U.S. tax evasion charges (The Block)
• BitMEX Bitcoin futures have “completely unwound” as the platform exodus continues (Cryptoslate)
• U.K. politician doubles down on Bitcoin despite anti-crypto stance of BOE governor (Cryptoslate)
• $1.5 billion worth of BTC from Mt. Gox hack might spook crypto markets (Cryptoslate)
• Yearn .finance’s (YFI) loudest bull, Blue Kirby, distances himself from the Ethereum protocol (Cryptoslate)
• KuCoin Crypto Exchange Alleges to Have Found Ethereum Hackers (Cryptobriefing)
• XRP on the Move After Job Listing Reveals New Exchange Platform (Cryptobriefing)
• Zilliqa Launches First DEX Built by Switcheo (Cryptobriefing)
• Fidelity, Vanguard, Schwab Funds Have All Been Loading Up on Crypto Mining Stocks (Coindesk)
• ECB to consider further digital euro study in 2021 (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market cap has spent another day by slowly gaining in value. The bulls were patient as Bitcoin approached the ascending trend line, ultimately passing it. Bitcoin’s short-term future will be decided by how he manages the $10,850 level. If the level gets tackled and Bitcoin stays above it confidently, we can expect a push towards $11,000-$11,300, or even higher. However, if that level doesn’t hold up, Bitcoin will return to the $10,360 level. Traders should pay attention to any spikes in volume.

BTC/USD 4-hour Chart

Bitcoin’s short-term technicals are a bit less bullish today, as the majority of the oscillators are neutral/bearish. However, its longer-term technicals have remained completely bullish.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and its 21-period EMA
• Price is slightly below its top Bollinger band
• RSI is ascending (60.09)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $10,630                                 1: $10,500

2: $10,850                                 2: $10,360

3: $11,000                                  3: $10,015

Ethereum

Ethereum’s price is slowly rising ever since the drop on Oct 2. However, the volume is slowly descending, turning Ethereum’s moves more and more dull. We may expect more slow and sideways movement until the volume picks up the pace.

Traders should pay attention to any increase in volume, as well as to Ethereum’s movement between $334 and $360.

ETH/USD 4-hour Chart

Ethereum’s 4-hour outlook has changed to full-out bullish, while its 1-day overview remains tilted towards the sell-side. On the other hand, its long-term overview seems extremely bullish, as its weekly or monthly technicals are both tilted towards the buy-side.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and 21-period EMA
• The price is slightly above its middle Bollinger band
• RSI is neutral (52.71)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $360                                     1: $334

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP has had another amazing day, where its price moved further towards the upside and reached as high as $0.26. If the price manages to stay at this level, its next resistance will be found at the $0.266 level. However, a pullback is expected, where the area between $0.2454 and $0.251 has strong support.

It seems that the bulls have gathered around XRP on news of the company launching a cryptocurrency exchange on top of the XRP ledger, as well as because of the fact that XRP is very close to reaching a golden cross (50-period moving average crossing the 200-period moving average to the upside).

XRP/USD 4-hour Chart

XRP technicals are now tilted towards the buy-side, with the exception of its monthly outlook, which remains bearish.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is well-above both its 50-period EMA and its 21-period EMA
• Price is at its top Bollinger band
• RSI is overbought (70.16)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227

 

The cryptocurrency sector is experiencing a slow but steady increase in price as Bitcoin is moving towards the upside after the $10,360 low it hit on Oct 2. Bitcoin is currently trading for $10,613, representing an increase of 0.53% on the day. Meanwhile, Ethereum gained 0.48% on the day, while XRP gained 5.79%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies as well as their gains and losses, Zilliqa gained 10.87% on the day, making it the most prominent daily gainer. Celsius (8.47%) and XRP (6.45%) also did great. On the other hand, SushiSwap Token lost 9.94%, making it the most prominent daily loser. It is followed by UMA’s loss of 8.93% and Bitcoin Gold’s loss of 8.64%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s level of market dominance stayed at the same spot since our last report, with its value currently being at 60.30%. This value represents a 0.07% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gained value over the course of the weekend. Its current value is $341.26 billion, which represents an increase of $5.80 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• KuCoin CEO claims crypto exchange has identified suspected hackers (The Block)
• Uniswap’s monthly trade volume exceeded Coinbase’s in September (The Block)
• $242 Million in Bitcoin Flee BitMEX Following Criminal Charges (Cryptobriefing)
• You Can Now Stake Cardano and TRON on eToro’s Trading Platform (Cryptobriefing)
• An Ethereum scaling solution is near—a DeFi founder thinks it will “melt faces” (Cryptoslate)
• BitMEX Bitcoin futures have “completely unwound” as platform exodus continues (Cryptoslate)
• Bitcoin use rises in Egypt amid economic recession (Cointelegraph)
• ECB considering further digital euro study in 2021 (Cointelegraph)
• Emerging technologies can change Africa’s financial landscape (Cointelegraph)
• Dash is not a privacy coin, Dash team says (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market cap has dropped in price due to the fundamentals, such as the US President Donald Trump being ill from COVID-19 as well as one of the largest trading platforms, BitMEX, being charged by the CFTC and the DOJ. However, the drop was only strong enough to push BTC to the $10,360 level, not below it. This is an extremely bullish sign as this support holding is key to the future development of Bitcoin.

Ever since then, Bitcoin has been slowly and steadily gaining in value but is being checked by the ascending trend line (pink). Traders should watch how BTC handles the trend line and if it surpasses it or keeps bouncing off of it.

BTC/USD 4-hour Chart

Bitcoin’s short-term technicals have changed to bullish over the weekend. Its longer-term technicals, however, have remained completely bullish, except for the daily outlook, which is just slightly more neutral.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and its 21-period EMA
• Price is at its top Bollinger band
• RSI is ascending (56.69)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $10,630                                 1: $10,500

2: $10,850                                 2: $10,360

3: $11,000                                  3: $10,015

Ethereum

Ethereum’s price has acted similar to Bitcoin’s movements, with Ether plummeting on Oct 2 and dropping to the $334 support level. However, bulls have taken over the market, and Ethereum has been slowly rising in the past couple of days. The prediction that options traders made regarding Ether trading below $360 and above $340 during October is still valid, and even more likely.

Traders should pay attention to any increase in volume, as that will spark the next move. The current volume is unable to bring any volatility to Ethereum.

ETH/USD 4-hour Chart

Ethereum’s 4-hour outlook has changed to slightly bullish, while its 1-day overview remains tilted towards the sell-side. However, its long-term overview seems extremely bullish, as its weekly or monthly technicals are both heavily tilted towards the buy-side.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is right below its 50-period and right above its 21-period EMA
• The price is slightly above its middle Bollinger band
• RSI is neutral (50.85)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $360                                     1: $334

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP has had an amazing day and even managed to get in the top3 daily gainers section. The third-largest cryptocurrency by market capitalization started off the weekend with its price dropping and hitting $0.228. However, the price quickly recovered and hovered below the $0.235 level until it finally broke. The push towards the upside was strong and with high volume, which helped XRP reach as high as $0.254.

XRP is now trying to consolidate above the $0.2454 level, which traders should pay attention to. An additional spark of volatility might be good for trading, regardless of XRP’s direction.

XRP/USD 4-hour Chart

XRP technicals are now quite uniformed and bullish, with both short-term and long-term technicals being completely tilted towards the buy-side. However, its monthly outlook still remains bearish.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is above both its 50-period EMA and its 21-period EMA
• Price is at its top Bollinger band
• RSI is heading towards the oversold territory (67.36)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $0.2454                                 1: $0.235 

2: $0.266                                   2: $0.227

3: $0.27                                    3: $0.221

 

The cryptocurrency sector has failed to confidently push towards new highs, which triggered a pullback. On top of that, the current macroeconomic situation has pushed both cryptocurrencies and stocks towards the downside. Bitcoin is currently trading for $10,476, representing a decrease of 2.82% on the day. Meanwhile, Ethereum lost 5.09% on the day, while XRP lost 3.7%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies as well as their gains and losses, Bitcoin Gold gained 4.88% on the day, making it the most prominent daily gainer. Balancer (3.92%) and Celsius (3.43%) also did great. On the other hand, Energy Web Token lost 16.88%, making it the most prominent daily loser. It is followed by Arweave’s loss of 16.61% and yearn. finance’s loss of 14.45%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s level of market dominance stayed at the same spot since our last report, with its value currently being at 60.37%. This value represents a 0.11% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has lost value over the course of the past 24 hours. Its current value is $336.45 billion, which represents a decrease of $7.99billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin plunges below $10,500 as the US government peruses BitMEX owners (Cryptoslate)
• Why are many people in Eastern Europe using crypto? (Cryptoslate)
• How CoinGecko went from CoinMarketCap challenger to DeFi investor (The Block)
• A Goldman Sachs partner will join Galaxy Digital to help bridge the gap between Wall Street and crypto (The Block)
• Litecoin Privacy Upgrade Launches Testnet, Mainnet Slated for 2021 (Cryptobriefing)
• Bitcoin and Stocks Fall as Trump Tests Positive for COVID-19 (Coindesk) 
• More than 50% of all crypto exchanges have weak or even no ID verification (Cointelegraph)
• Yield farming platform APY Finance locks $67 million in first hour (Cointelegraph)
• $1B in Wrapped Bitcoin is now being audited using Chainlink’s ‘Proof of Reserve’ (Cointelegraph)
• Fiat inflation has cost Bitcoin hodlers 20% over the past decade (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market cap failed to break the 38.2% Fib retracement level, causing a pullback, which (as we mentioned in our previous article) brought its price to the $10,360 range. The pullback happened over the course of a few hours, and first tested the ascending (pink) resistance level, which got confirmed, triggering another push towards the downside.

Even though Bitcoin’s price went down slightly, the good news is that the $10,360 range has not been breached. If Bitcoin, on the other hand, breaks this level to the downside, we may expect a strong push towards the downside.

BTC/USD 4-hour Chart

Bitcoin’s short-term technicals remained tilted towards the sell-side ever since Bitcoin confirmed its position below the 38.2% Fib retracement. Its daily overview has become a bit more bearish as well, while its weekly and monthly overviews are extremely bullish.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is below its 50-period EMA and its 21-period EMA
• Price is below its lower Bollinger band
• RSI is pushing towards oversold(37.02)
• Volume is average (with a couple of spike candles)

Key levels to the upside          Key levels to the downside

1: $10,630                                 1: $10,500

2: $10,850                                 2: $10,360

3: $11,000                                  3: $10,015

Ethereum

Ethereum’s price movement has lost its structure ever since it broke the higher high/higher low pattern it has created. The second-largest cryptocurrency by market cap pushed towards the $371 resistance level, but failed to break it, causing a strong pullback which first tested $360, and then went all the way down to $340 as $360 failed to hold.

ETH/USD 4-hour Chart

While Ethereum’s 4-hour and 1-day technicals are now tilted towards the sell-side, its long-term overview seems extremely bullish. Its weekly or monthly technicals are both heavily tilted towards the buy-side.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price right below its 50-period and its 21-period EMA
• The price is below its lower Bollinger band
• RSI is heading towards the oversold territory (36.74)
• Volume is average with a couple of spike candles

Key levels to the upside          Key levels to the downside

1: $360                                     1: $340

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP’s trading in the upper part of the range-bound by $0.235 and $0.2454 got interrupted by the market tumbling, pushing its price down towards $0.235 as well. While the $0.235 level was passed in the most recent push towards the downside, it is still unsure whether the price will stabilize above or below it. Traders should be very careful and should either try “riding the wave” if XRP starts to drop, or they should wait until the picture becomes a bit more clear.

XRP/USD 4-hour Chart

XRP technicals are now quite uniformed, with both short-term and long-term technicals being bearish. However, its weekly outlook shows a slight tint of bullishness.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is below both its 50-period EMA and its 21-period EMA
• Price is slightly below its lower Bollinger band
• RSI is heading towards the oversold territory (37.47)
• Volume is average (with a couple of spike candles)

Key levels to the upside          Key levels to the downside

1: $0.2454                                 1: $0.235 

2: $0.266                                   2: $0.227

3: $0.27                                    3: $0.221

 

The cryptocurrency sector ended up the day in the green, with most cryptocurrencies rallying towards the upside. Bitcoin is currently trading for $10,796, representing an increase of 1.28% on the day. Meanwhile, Ethereum gained 2.46% on the day, while XRP gained 1.15%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies and their gains and losses, DigiByte gained 19.31% in the past 24 hours, making it the most prominent daily gainer. Ren (17.14%) and Maker (15.03%) also did great. On the other hand, The Midas Touch Gold lost 12.25%, making it the most prominent daily loser. It is followed by Energy Web Token’s loss of 7.37% and Hyperion’s loss of 5.71%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s level of market dominance decreased slightly since our last report, with its value currently being at 60.05%. This value represents a 0.43% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gained in value over the course of the past 24 hours. Its current value is $349.36 billion, which represents an increase of $4.95 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin price risks even bigger pullback in Q4 after sharp rejections (Cointelegraph)
• Dash adjusts block reward percentage to improve the economics of its network (Cointelegraph)
• Twitter’s Dorsey Calls Out Coinbase CEO for Ignoring Users’ ‘Societal Issues’ (Coindesk)
• Top analyst explains why it’s likely Bitcoin, stocks will drift lower into elections (Cryptoslate)
• Augur Users Bet $111,000 on Presidential Elections After Biden, Trump Debate (Cryptobriefing)
• SIMETRI Made 480% Gains on These Small-Cap Cryptocurrencies: Performance Report (Cryptobriefing)
• Tron Is Beating Ethereum Activity Thanks to Gambling and Wash Trading, Says Report (Cryptobriefing)
• SEC wins court bid for the summary judgment in the ICO lawsuit against Kik (The Block)
• Will the ‘unambitious’ UK be left behind by Europe’s sweeping new crypto proposals? (The Block)
• SEC hits Salt Lending with cease-and-desist over $47 million ICO (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin’s 1-day chart shows that slight bullish sentiment took over after Bitcoin broke the triangle formation to the upside, pushing its price towards the 38.2% Fib retracement, which has proven as a resistance area. It is key for Bitcoin to confidently establish its price above this level if it wants to tackle $11,000 any time soon. However, if this does not happen, we may expect pullbacks to the $10,360 area.

BTC/USD 1-day Chart

If we zoom in to the 4-hour chart, we can see that the bulls are desperately trying to break the $10,850 level (38.2% Fib retracement), but to no avail. If the level does fall, however, we expect it to be on increased volume. Also, if that happens, the push will probably be extended, and traders can catch a lucrative trade on the way down while Bitcoin pulls back.

BTC/USD 4-hour Chart

Bitcoin’s technicals are showing strength all-around, with both shorter and longer time-frames showing bullish sentiment. This may be an indicator of Bitcoin’s current strength and a possible push past $10,850.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is slightly above both its 50-period EMA and its 21-period EMA
• Price is right above its middle Bollinger band
• RSI is neutral (56.31)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $10,850                                 1: $10,630

2: $11,000                                 2: $10,500

3: $11,090                                  3: $10,015

Ethereum

Ethereum has shown some strength in the past 24 hours. Its price pattern of making higher highs and higher lows has been interrupted by a lower high and a lower low the past day. On the other hand, its current price movement seems to ignore this bearish sign and is pushing higher towards the $371 level. It seems that, however, $371 will not be reached as the volume is descending and showing a lack of interest in any volatility from both bulls and bears.

When it comes to any form of price direction prediction, traders are torn between putting Ethereum’s current movement in an ascending trend and calling for a rally towards the upside, or calling the most recent lower high/lower low combo a break of the ascending trend, and calling for a push towards the downside.

ETH/USD 4-hour Chart

Both Ethereum’s short-term and long-term technical overviews are tilted towards the buy-side. While its longer-term technicals were always bullish, its 4-hour and 1-day overviews changed from bearish to bullish since we last reported, indicating that the bullish traders might be in the right when it comes to Ethereum’s next move.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and its 21-period EMA
• The price is above its middle Bollinger band
• RSI is pushing towards the overbought area (59.99)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $360                                     1: $340

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP has been trading sideways near its $0.2454 resistance level and tried to break it several times. However, each time failed, and the cryptocurrency had to pull back towards the middle of the range and prepare for its next move. XRP’s low volume and low volatility may be confirming that it is just preparing for the next big move, but the direction is currently unknown. If it rallies towards the upside, traders can either join the extended leg up or trade the pullback. If the price moves down, traders can either trade a bounce off of the $0.235 or wait for a possible break of this support level.

XRP/USD 4-hour Chart

XRP technicals are seemingly always the most interesting and confusing. When it comes to short time-frames, the 4-hour outlook is mixed (but tilted slightly towards the buy-side), while the daily outlook is slightly bearish. Its weekly outlook is back to bullish, while its monthly technicals show bearish sentiment.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is slightly above both its 50-period EMA and its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (51.39)
• Volume is stable, and average

Key levels to the upside          Key levels to the downside

1: $0.2454                                 1: $0.235 

2: $0.266                                   2: $0.227

3: $0.27                                    3: $0.221

 

The cryptocurrency sector has stayed at virtually the same spot since our last report. Bitcoin is currently trading for $10,688, representing a decrease of 0.07% on the day. Meanwhile, Ethereum gained 0.18% on the day, while XRP lost 0.95%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies and their gains and losses, The Midas Touch Gold gained 21.5% on the day, making it the most prominent daily gainer. Zilliqa (14.64%) and Energy Web Token (11.71%) also did great. On the other hand, DeFi projects took a hit as UMA lost 10.9%, making it the most prominent daily loser. It is followed by yearn.finance’s loss of 7.8% and OMG Network’s loss of 6.4%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s level of market dominance stayed at the same spot since our last report, with its value currently being at 60.48%. This value represents a 0.02% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gained in value over the course of the past 24 hours. Its current value is $344.44 billion, which represents an increase of $0.55 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• 93% of the top 250 coins have declined in price in September (Cointelegraph)
• Data shows over 100 million unique users now have Bitcoin and crypto accounts (Cryptoslate)
• DeFi darling Yearn.finance (YFI) deployed a new token—then $15m was stolen (Cryptoslate)
• Coinbase offers exit package for employees not comfortable with its mission (The Block)
• Goldman Sachs looking to round out digital assets team with new international hires (The Block)
• Technicals and On-Chain Metrics Spell Trouble for Ethereum (Cryptobriefing)
• Shielded Zcash Withdrawals on Gemini Aren’t All That Private (Cryptobriefing)
• Reddit’s MOON Cryptocurrency Now Has Cash Value (Cryptobriefing)
• Traders Rotate to Bitcoin Expecting a Quiet Q4 for Altcoins (Coindesk)
• Coinbase Launches 5% Staking Rewards for Cosmos’ ATOM (Coindesk)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

While it seems that Bitcoin is having quite a slow day, that is not exactly the case. Even though its price has not changed much since our last report, the largest cryptocurrency by market cap is fighting to stay above the triangle formation it has recently passed. If it manages to confirm its position above the triangle (and then 38.2% Fib retracement level), Bitcoin will set itself up to rush towards (and past) $11,000.

BTC/USD 1-day Chart

If we zoom in to the 4-hour chart, we can see that Bitcoin is right on the verge of going back under is level, but has held up nicely so far. Trading is quite simple at the moment, as Bitcoin is not making any sudden moves either towards the upside or downside.

BTC/USD 4-hour Chart

Bitcoin’s short-term technicals are tilted towards the sell-side and will be tilted in that direction until Bitcoin confirms its position above the 38.2% Fib retracement. However, its daily overview is slightly bullish, while its weekly and monthly overviews are extremely bullish.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is slightly above its 50-period EMA and below its 21-period EMA
• Price is right below its middle Bollinger band
• RSI is neutral (48.90)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $10,850                                 1: $10,630

2: $11,000                                 2: $10,500

3: $11,090                                  3: $10,015

Ethereum

Ethereum has been pretty stable in the past 24 hours. Its price has been making higher highs and higher lows ever since Sept 24, until now. The trend has (seemingly) stopped, with Ethereum being stopped out by the $360 resistance level. While this makes Ethereum’s outlook slightly more bearish, in reality, this doesn’t change much as Ethereum Option traders have already made a prediction of ETH trading between $340 and $360 by the end of Oct.

ETH/USD 4-hour Chart

While Ethereum’s 4-hour and 1-day technicals are now tilted towards the sell-side, its longer-term overview is extremely bullish. If we take a look at its weekly or monthly technicals, the sentiment is heavily tilted towards the buy-side.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is at its 50-period and its 21-period EMA
• The price is at its middle Bollinger band
• RSI is neutral (50.89)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $360                                     1: $340

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP has, after four days of trying, failed to break the $0.2454 resistance level. Its price has fallen off a bit since the last attempt, currently trading at around $0.24. We can also see that XRP has moved below its 50-period moving average, which may cause a further descent towards $0.235.

XRP/USD 4-hour Chart

XRP technicals are quite confusing. While its 4-hour outlook is mixed, its daily outlook is heavily tilted towards the sell-side. On the other hand, its weekly outlook is bullish, while its monthly outlook is, once again, bearish.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is below both its 50-period EMA and its 21-period EMA
• Price is slightly below its middle Bollinger band
• RSI is neutral (48.16)
• Volume is stable and average

Key levels to the upside          Key levels to the downside

1: $0.2454                                 1: $0.235 

2: $0.266                                   2: $0.227

3: $0.27                                    3: $0.221

 

The cryptocurrency sector has lost some value as Bitcoin failed to break $11,000. Bitcoin is currently trading for $10,660, representing a decrease of 1.68% on the day. Meanwhile, Ethereum lost 1% on the day, while XRP gained 0.76%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies and their gains and losses, OMG Network gained 27% on the day, making it the most prominent daily gainer. ABBC Coin (18.7%) and Storj (16.95%) also did great. On the other hand, DeFi projects took a hit as Uniswap lost 16.2%, making it the most prominent daily loser. It is followed by DFI. Money’s loss of 13.47% and Ocean Protocol’s loss of 12.4%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s level of market dominance decreased slightly since our last report, with its value currently being at 60.46%. This value represents a 0.29% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has lost in value over the course of the past 24 hours. Its current value is $343.89 billion, which represents a decrease of $5.5billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Grayscale Investments now controls 2.4% of the current BTC supply (Cointelegraph)
• Ethereum cumulative fees in 2020 eclipsed Bitcoin’s for the first time (Cointelegraph)
• One of Hal Finney’s lost contributions to Bitcoin Core to be ‘resurrected’ (Cointelegraph)
• The Inevitable Marriage of Yield Farming and NFTs, Explained (Coindesk)
• Cardano Announces More Upgrades; ADA Looks Ready to Take Shelter (Cryptobriefing)
• DeFi’s Favorite Stablecoin is Backed by More than 60% Centralized Assets (Cryptobriefing)
• This DeFi trend suggests crypto will reach a market cap in the trillions in the future (Cryptoslate)
• Wall Street’s credit default swaps have found their way to DeFi (The Block)
• Avalanche, the latest staking network to launch, already has more than $1 billion staked (The Block)
• Binance unveils a new ‘decentralized’ stablecoin system, Venus (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin failed to end the day above the large triangle formation (and the 38.2 Fib retracement level), which caused its price to push back inside the body of the triangle. The move towards the upside exhausted the buyers as they couldn’t get past the 50-day moving average as well as the Fib retracement level.

BTC/USD 1-day Chart

If we zoom in to the 4-hour chart, we can clearly see that this was a fakeout that exhausted the buy-side even further. While it is unknown where Bitcoin’s next move will be, traders should look at the triangle and check for where BTC exits it.

BTC/USD 4-hour Chart

Bitcoin’s short-term technicals have changed its position from a “buy” to a “sell.” When comparing the technicals, we can see that the longer time frame we pick, the more bullish the Bitcoin overview is.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is slightly below its 50-period EMA and below its 21-period EMA
• Price is below its middle Bollinger band
• RSI is neutral (47.23)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $10,850                                 1: $10,630

2: $11,000                                 2: $10,500

3: $11,090                                  3: $10,015

Ethereum

Ethereum has been in a state of constant price growth since Sept 24, with the price posting higher and highs as well as higher lows. This time, while the movement towards the downside was a bit sharper than usual, Ethereum has still posted a higher low, indicating it’s not as bullish as many people think. However, this move towards the downside stopped Ethereum from moving above the dreaded $360 resistance level, once again fulfilling the words of the majority of Options traders, which called for ETH trading between $340 and $360 until the end of October.

ETH/USD 4-hour Chart

While Ethereum’s 4-hour and 1-day technicals turned slightly more bearish and are tilted towards the sell-side, its longer-term overview is extremely bullish. When talking about weekly or monthly technicals, the sentiment is heavily tilted towards the buy-side.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is at its 50-period and its 21-period EMA
• The price is at its middle Bollinger band
• RSI is neutral (51.26)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $360                                     1: $340

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

Not much has happened for XRP in the past 24 hours regarding price movement. The $0.2454 level stopped out any push from the bull-side, making XRP stagnant just below this resistance level. However, this made it almost clear that the 5th leg of the Elliot impulse wave did end with XRP’s move towards $0.219 (the circled candles). We can expect XRP to trader between the $0.235 support level and $0.2454 resistance level for some time.

XRP/USD 4-hour Chart

Ever since XRP left the Elliot wave pattern behind it, its short-term overview has turned bullish. However, its overview changes to bearish and then extremely bearish the longer we go in time (daily, weekly, monthly overview).

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is above both its 50-period EMA and its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is neutral (55.23)
• Volume is stable and average

Key levels to the upside          Key levels to the downside

1: $0.2454                                 1: $0.235 

2: $0.266                                   2: $0.227

3: $0.27                                    3: $0.221

 

The cryptocurrency sector was mostly trading sideways over the weekend, with a sudden burst towards the upside in recent hours. Bitcoin is currently trading for $10,877, representing an increase of 1.14% on the day. Meanwhile, Ethereum lost 0.59% on the day, while XRP gained 0.18%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies, Arweave gained 36.17% on the day, making it the most prominent daily gainer. Swipe (21.16%) and CyberVein (12.64%) also did great. On the other hand, ABBC Coin lost 18.37%, making it the most prominent daily loser. It is followed by DFI.Money’s loss of 10.91% and Reserve yearn.finance’s loss of 10.43%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s level of market dominance decreased slightly since our last report, with its value currently being at 60.75%. This value represents a 0.72% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has increased in value over the weekend. Its current value is $349.48 billion, which represents a decrease of $13.19 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Only 2.5 million BTC left to mine (Cointelegraph)
• Bitcoin Sets Record 63 Straight Days Closing Above $10,000 (Coindesk)
• OneCoin investors accuse BNY Mellon of playing role in $4 billion Ponzi scheme (The Block)
• DeFi protocol Aave launches new governance framework on mainnet (The Block)
• SEC issues a no-action letter in response to the digital asset securities questions (The Block)
• DeFi protocols break $10 billion in total value locked (The Block)
• IRS Asks a Simple “Yes or No” Question to Deal With Crypto Tax Evaders (Cryptobriefing)
• KuCoin’s Hot Wallet Private Keys Stolen, Estimated $150 Million in Damages (Cryptobriefing)
• Analytics firm: Bitcoin investor sentiment reaches 2-year low as momentum stalls (Cryptoslate)
• LEND, the DeFi darling up 5,000% in 2020, is about to undergo a critical upgrade (Cryptoslate)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has spent the weekend preparing for a move towards the upside, which happened in recent hours. While the move did break the large triangle to the upside, it stopped at the 38.2% level, which it is now fighting for. Only a daily close above this level would mean that the bulls have taken over the market, while anything else is far less bullish.

BTC/USD 1-day Chart

If we zoom in to the 4-hour chart, we can see that the largest cryptocurrency by market cap got stopped out (for now) at the 38.2% Fib retracement level. The next couple of hours will be crucial in determining Bitcoin’s short-term future and its sentiment.

BTC/USD 4-hour Chart

Bitcoin’s short-term technicals tilted even more towards the bull side over the weekend. On the other hand, its long-term technicals are still bullish on all time-frames.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and 21-period EMA
• Price above its top Bollinger band
• RSI is static but close to being overbought (62.31)
• Volume is steady with a few spikes

Key levels to the upside          Key levels to the downside

1: $10,850                                 1: $10,630

2: $11,000                                 2: $10,500

3: $11,090                                  3: $10,015

Ethereum

Unlike Bitcoin, Ethereum didn’t have a strong move towards the upside, but rather kept its trading within a range, bound by $360 to the upside and $340 to the downside. As we said in our previous post, options traders bet on Ethereum having over 55% chance of staying below $360 and above $340 in the next month, with only around 20% of them betting on ETH breaking the $360 mark in October.

ETH/USD 4-hour Chart

While Ethereum’s 4-hour technicals are tilted towards the buy-side, its 1-day technicals are bearish. When talking about weekly or monthly technicals, the sentiment is tilted towards the buy-side heavily.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is above its 50-period and its 21-period EMA
• The price ascension is stopped by its top Bollinger band
• RSI is neutral (57.76)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $360                                     1: $340

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP’s price movement has surprised traders as they expected it to push more towards the downside and continue its Elliot impulse wave 5th leg movement. However, it seems that XRP wanted to move towards the upside and pushed towards its $0.2454 resistance (unsuccessfully).

Traders are calling for two scenarios, with one being that XRP hasn’t finished its Elliot impulse wave pattern yet and that it will revisit the $0.21 lows before doing anything else. However, many traders are now saying that the impulse wave has ended with XRP reaching $0.219 instead of $0.21 and that it is now moving freely and trying to push above its resistance levels. While both sides have their reasoning, the large ascending support level (red line) is tipping the scales in favor of XRP, already ending its Elliot wave structure.

XRP/USD 1-day Chart

If we zoom in to the 4-hour chart, it’s even more apparent that the Elliot impulse wave has finished, and that XRP is now moving towards its support/resistance levels without such a strong pattern behind it.

XRP/USD 4-hour Chart

XRP’s 4-hour sentiment has turned bullish after (most likely) finishing its Elliot impulse wave pattern. Not only that, but its slightly longer time-frames are also tilted towards the buy-side, which is a healthy change when compared to last week. However, its monthly overview is still looking bearish (though not as much as before the weekend).

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is above both its 50-period EMA and its 21-period EMA
• Price is slightly below its top Bollinger band
• RSI is neutral (59.22)
• Volume is stable and average

Key levels to the upside          Key levels to the downside

1: $0.235                                   1: $0.227 

2: $0.2454                                 2: $0.221

3: $0.266                                  3: $0.214

 

The cryptocurrency sector has surprised the market and pushed towards the upside despite the short-term bearish sentiment surrounding it recently. Bitcoin is currently trading for $10,630, representing an increase of 3.56% on the day. Meanwhile, Ethereum gained 5.49% on the day, while XRP gained 3.71%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies, Avalanche gained 24.96% on the day, making it the most prominent daily gainer. ABBC Coin (22.9%) and Arweave (18.7%) also did great. On the other hand, Hyperion lost 3.05%, making it the most prominent daily loser. It is followed by CyberVein’s loss of 2.76% and Reserve Paxos Standard’s loss of 0.4%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s level of market dominance stayed at the same spot since our last report, with its value currently being at 61.47%. This value represents a 0.02% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has increased in value over the past 24 hours. Its current value is $336.29 billion, which represents a decrease of $11.24 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin’s realized cap is now $43 billion above the 2017 all-time high (Cointelegraph)
• Glassnode: Uniswap team may have misled community over team token vesting (Cointelegraph)
• 100M people worldwide now use crypto-based assets, says Cambridge study (Cointelegraph)
• Coinbase wallet users targeted by new Android malware (Cointelegraph)
• Russia’s Ministry of Finance proposes higher reporting standards for cryptocurrency (The Block)
• Canadian report finds people with low financial literacy more likely to own crypto compared to the highly financially literate (The Block)
• Market Wrap: Bitcoin Hits $10.7K; Options Market Likes Sub-$360 Ether (Coindesk)
• Data Reveals Trading Volume on Tron’s DEX JustSwap Inflated by Millions (Cryptobriefing)
• Venezuelan Government Plans to Regulate All Bitcoin Mining (Cryptobriefing)
• Yearn.finance (YFI) yields are plunging: is this a risk for the Ethereum DeFi darling? (Cryptoslate)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has spent the past 24 hours pushing towards the upside, which resulted in a price increase of around 6% during its peak. The largest cryptocurrency by market cap has reached $10,800 before the bulls have exhausted their resources. This move towards the upside has put BTC within the large triangle, meaning that we can expect another strong move (to either side of the triangle) in the short future.

BTC/USD 1-day Chart

If we take a look at the 4-hour time-frame, the largest cryptocurrency by market cap has pushed past 23.6% Fib retracement and established itself well above it. Once the move ended, BTC found immediate support at the 50-period moving average.

BTC/USD 4-hour Chart

Bitcoin’s short-term technicals have changed its overview from very bearish to slightly bullish. On the other hand, its long-term technicals remained extremely bullish on all time-frames longer than 4-hours.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and 21-period EMA
• Price near its top Bollinger band
• RSI is neutral and tilted towards the upside (56.98)
• Volume is volatile

Key levels to the upside          Key levels to the downside

1: $10,850                                 1: $10,630

2: $11,000                                 2: $10,500

3: $11,090                                  3: $10,015

Ethereum

Ethereum has pushed towards the upside, following Bitcoin’s move and gaining a bit less than 10% in the past 24 hours (during its peak). The second-largest cryptocurrency by market cap pushed past the $340 resistance line and established itself above it, therefore turning it into support. However, further moves towards and past $360 may be difficult at the moment, as we saw option traders for October expiration contracts “betting” that Ether is most likely going to trade between $340 and $360.

ETH/USD 4-hour Chart

Ethereum’s short-term technicals have not changed much since yesterday, tilting just slightly less to the sell-side than before. Its overview of longer time frames is extremely bullish, especially on the 1-day and 1-month technical overview.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is below its 50-period and right at its 21-period EMA
• The price is between its top and middle Bollinger band
• RSI is neutral (47.68)
• Volume increased (but descending towards average)

Key levels to the upside          Key levels to the downside

1: $360                                     1: $340

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

While XRP didn’t differ from the rest of the top cryptocurrencies and pushed towards the upside as well, the gains it made may not remain gains for long. XRP managed to gain around 5% in the past 24 hours (during its peak) but found great resistance at the 5th leg of the Elliot impulse wave. XRP quickly bounced off of it, indicating that we may see consolidation and a continuation towards the downside, where XRP will fulfill its move at the $0.219 target.

XRP/USD 4-hour Chart

XRP’s bearish sentiment extends across all time frames, with its 4-hour overview showing a bit lighter tilt towards the sell-side, and its longer time-frame overviews showing a strong tilt towards the sell-side.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is below its 50-period EMA and just above its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is natural (49.02)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $0.235                                   1: $0.227 

2: $0.2454                                 2: $0.221

3: $0.266                                  3: $0.214

 

The cryptocurrency sector has experienced a slight decrease in value as (as many traders speculate) Bitcoin mirrored Gold’s triangle pattern breakout and headed towards the downside. Bitcoin is currently trading for $10,261, representing a decrease of 1.72% on the day. Meanwhile, Ethereum lost 4.54% on the day, while XRP lost 3.79%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies, Uniswap gained 13.73% on the day, making it the most prominent daily gainer. HedgeTrade (9.22%) and Hyperion (5.61%) also did great. On the other hand, DigiByte lost 17.91%, making it the most prominent daily loser. It is followed by Ren’s loss of 17.78% and Reserve Rights’ loss of 11.70%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level experienced a slight increase since our last report, with its value currently being at 61.45%. This value represents a 0.35% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has decreased in value over the past 24 hours. Its current value is $325.05 billion, which represents a decrease of $8.86 billion when compared to our previous report.

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What happened in the past 24 hours?

_______________________________________________________________________

• Bears reign over BTC as 86% of September’s $284M CME Bitcoin options are worthless (Cointelegraph)
• Crypto exchange Gemini launches in the UK (The Block)
• Robinhood closes $660 million in Series G funding (The Block)
• Sia Tech raises $3 million in order to speed up the development of ‘free Internet’ (The Block)
• After Two Police Raids, Bitcoin Exchange Bithumb Up for Sale (Cryptobriefing)
• ECB Seeks to Eliminate Stablecoins, Accelerate Digital Euro Plans (Cryptobriefing)
• Biggest Expiry of Ethereum Options Looks to Amp Up ETH Volatility (Cryptobriefing)
• UNI, SNX, and DeFi tokens recover on Yearn.finance (YFI) lead: what’s next? (Cryptoslate)
• Crypto Hedge Fund Looks for $50M to Buy DeFi Tokens Amid Market Pullback (Coindesk)
• Venezuela Legalizes Crypto Mining but Will Force Industry Into National Pool (Coindesk)

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Technical analysis

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Bitcoin

Bitcoin has spent the day mirroring Gold’s movement from a day ago, where it broke the same triangle pattern to the downside. With the same happening to Bitcoin, we saw its price falling to sub-$10,300 levels. If we take into account the CME Futures, which will expire on Friday, deeming as much as 86% of $284 million worth of contracts worthless, we can guess with accuracy that the bears will continue to reign over the market for now. The suggested price of $9,300 to $9,500 is even more realistic now.

BTC/USD 1-day Chart

If we take a look at the 4-hour time frame, the largest cryptocurrency by market cap has dropped below the 23.6% Fib retracement as well as the triangle bottom line, suggesting strong bearish sentiment in the short-term. While the volume is descending and preparing for the next move, Bitcoin’s next one will most likely be to the downside.

BTC/USD 4-hour Chart

Bitcoin’s short-term technicals haven’t changed from yesterday, and are still very bearish. However, while the technicals are very bearish on the 4-hour chart, the daily and weekly technical overview is slightly less bearish, while the monthly overview is very bullish.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is below both its 50-period EMA and 21-period EMA
• Price slightly closer to the bottom Bollinger band
• RSI is neutral (34.72)
• Volume is slowly descending from a massive spike

Key levels to the upside          Key levels to the downside

1: $10,500                                 1: $10,015

2: $10,630                                 2: $9,880

3: $10,850                                  3: $9,740

Ethereum

The DeFi market has managed to recover from its plummet, with yearn.finance leading the move to the upside. While Ethereum has lost value due to its correlation with Bitcoin, its short-term overview is slightly more bullish.

However, if we take a look at Ethereum’s chart, we can see that the second-largest cryptocurrency by market cap managed to stabilize after hitting the bottom Bollinger band, which provided adequate support. While ETH did fall below $340 and broke a major support level, which calls for a push towards $300, the situation is slightly more bullish than the day before.

ETH/USD 4-hour Chart

Ethereum’s short-term technicals are extremely bearish, while the situation changes drastically in the weekly and monthly overview, where the overview is quite bullish.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is below both its 21-period and its 50-period EMA
• The near its bottom Bollinger band
• RSI is hovering around the oversold line (30.56)
• Volume is average (except for the one-candle volume spike during the downturn)

Key levels to the upside          Key levels to the downside

1: $340                                     1: $300

2: $360                                     2: $289

3: $371                                      3: $278

Ripple

XRP has spent the day continuing its Elliot impulse wave 5th leg. While its price did go down, many traders have turned slightly bullish, calling out for the end of the 5th leg of the impulse wave at the spot where the price meets the ascending trend line from March (the red ascending line). This would put the price target for XRP at somewhere between $0.215 and $0.218 before pushing towards the upside.

XRP/USD 1-day Chart

While many traders have turned bullish, XRP’s technicals are still firm with their bearish sentiment. The bearish sentiment doesn’t end at the shorter time frames; it rather extends to the daily and weekly overview as well.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is below both its 21-period EMA and its 50-period EMA
• Price is very close to its bottom Bollinger band
• RSI is in the oversold territory (27.28)
• Volume is volatile, with occasional spikes

Key levels to the upside          Key levels to the downside

1: $0.227                                   1: $0.221 

2: $0.235                                   2: $0.214

3: $0.2454                                3: $0.2

 

The cryptocurrency sector has mostly tried to consolidate after this weekend’s losses. Bitcoin is currently trading for $10,496, representing an increase of 0.68% on the day. Meanwhile, Ethereum gained 0.26% on the day, while XRP lost 1.28%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies, OMG Network gained 21.05% on the day, making it the most prominent daily gainer. Synthetix Network (20.54%) and Hyperion (16.87%) also did great. On the other hand, Avalanche lost 54.43%, making it the most prominent daily loser. It is followed by Orchid’s loss of 13.56% and Celo’s loss of 10.10%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level experienced a slight decrease since our last report, with its value currently being at 61.10%. This value represents a 0.19% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has slightly increased in value over the past 24 hours. Its current value is $333.91 billion, which represents an increase of $3.7 billion when compared to our previous report.

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What happened in the past 24 hours?

_______________________________________________________________________

• MicroStrategy CEO could ‘liquidate $200M in Bitcoin on a Saturday’ (Cointelegraph)
• Yearn .finance’s founder and others aren’t bullish on Uniswap’s current governance model (Cryptoslate)
• Top VC says amid 40% drop: the fundamentals for Ethereum have never been better (Cryptoslate)
• Cardano Finally Flashes Buy Signal After 50% Nosedive (Cryptobriefing)
• American Regulators Warm up to Crypto, Banks Authorized to Hold Stablecoins (Cryptobriefing)
• Exorbitant Gas Fees on Ethereum Force UniLogin to Shutter Operations (Cryptobriefing)
• Craig Wright of Bitcoin SV Won’t Escape Latest Crypto Lawsuit (Cryptobriefing)
• Jeremy Allaire talks USDC, multi-chain support and new stablecoin guidance (The Block)
• ECB report says the term ‘stablecoin’ needs reform because of its ambiguity (The Block)
• Crypto exchange Bithumb reportedly looking for a buyer (The Block)

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Technical analysis

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Bitcoin

Bitcoin has spent the day trying to “end the battle” for the 23.6% Fib retracement level. With it ultimately ending up above it, Bitcoin has managed to stay out of the bearish cycle it was about to jump in. With that being said, the 1-day chart is still calling for a pullback towards the $9,300-$9,500. The large red triangle on our chart shows Bitcoin’s possible correlation with gold (as the gold chart looks exactly the same, with the exception that its triangle already popped to the downside), which may cause another push towards the downside.

BTC/USD 1-day Chart

If we take a look at the 4-hour time frame, the largest cryptocurrency by market cap managed to stay above the triangle bottom line and gain a foothold at the 23.6% Fib retracement line. However, Bitcoin’s sentiment is still slightly bearish in the short-term, which may ultimately result in another nosedive.

BTC/USD 4-hour Chart

Bitcoin’s short-term technicals are still very bearish. However, the more we look at longer time frames, the better the situation is. While the technicals are very bearish on the 4-hour chart, the daily and weekly overview are not so bad (though still tilted towards the downside), while the monthly overview is still very bullish.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is slightly  below its 50-period EMA and its 21-period EMA
• Price slightly below its middle Bollinger band
• RSI is neutral and recovering from the downswing (39.62)
• Volume is slowly descending from a massive spike

Key levels to the upside          Key levels to the downside

1: $10,630                                 1: $10,500

2: $10,850                                 2: $10,015

3: $11,000                                  3: $9,880

Ethereum

DeFi market is experiencing a bloodbath, with yearn.finance dropping 50% from its highs established in the past weeks and the rest of the market following. With that being said, many institutional investors have said they are macro-driven and not crypto-driven and that ETH’s fundamentals have never been better.

However, if we take a look at Ethereum’s chart, we can see that the situation is not exactly bullish. The second-largest cryptocurrency by market cap has barely established support at the $340 level. With the volume coming back to normal, it seems that ETH will stay at this level and try to consolidate in the short-term.

ETH/USD 4-hour Chart

Ethereum’s short-term technicals are extremely bearish, while its mid-term technicals are getting quite bullish. This confirms the story that the “smart money” is telling, which is that institutional money is coming into the market regardless of the short-term bearishness.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is below both its 21-period and its 50-period EMA
• The between its middle and bottom Bollinger band
• RSI is neutral but tilted towards the downside (34.67)
• Volume has returned to average

Key levels to the upside          Key levels to the downside

1: $360                                     1: $340

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP has spent the day trying to consolidate after a push towards the downside. The fourth-largest cryptocurrency by market cap has (for now) stopped its squeeze down after hitting the bottom of the bottom Bollinger band, which stopped it from descending further. While the sentiment is still bearish, the move towards the downside that will finish the Elliot impulse wave’s fifth leg may be delayed slightly.

XRP/USD 1-day Chart

Taking a look at the technicals, XRP is showing extreme bearish sentiment on both short-term and long-term charts. Its 4-hour, daily, weekly and monthly indicators are heavily tilted towards the downside, which is certainly not a good sign for the XRP bulls.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is below both its 21-period EMA and its 50-period EMA
• Price is slightly above its bottom Bollinger band
• RSI is neutral and flat (38.38)
• Volume is coming back to average

Key levels to the upside          Key levels to the downside

1: $0.235                                   1: $0.227 

2: $0.2454                                 2: $0.221

3: $0.266                                  3: $0.214

 

The cryptocurrency sector has dropped severely as the traditional markets tumbled and caused the crypto market to do the same. Bitcoin is currently trading for $10,458, representing a decrease of 4.38% on the day. Meanwhile, Ethereum lost 7.68% on the day, while XRP lost 5.87%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies, only three have actually increased in value. Orchid gained 25.73% on the day, making it the most prominent daily gainer. Loopring (5.88%) and Hyperion (5.03%) also did great. On the other hand, Celo lost 19.17%, making it the most prominent daily loser. It is followed by Uniswap’s loss of 19.04% and Aave’s loss of 16.93%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level experienced an increase since our last report (as it always happens when the market drops), with its value currently being at 61.29%. This value represents a 0.67% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has lost value over the course of the past 24 hours. Its current value is $330.84 billion, which represents a decrease of $21.61 billion when compared to our previous report.

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What happened in the past 24 hours?

_______________________________________________________________________

• Craig Wright loses summary judgment bid in billion-dollar bitcoin case, which now heads to trial (The Block)
• US banks can hold reserve funds for stablecoin issuers, says federal regulator (The Block)
• SEC, OCC Issue First Regulatory Clarifications for Stablecoins (Coindesk)
• Yearn.finance (YFI) plunges to “do or die” support despite positive developments (Cryptoslate)
• Ethereum Classic is partnering with security firms to prevent further 51% attacks (Cryptoslate)
• DeFi darling Yam—after suffering a $750,000 bug—is back: what you need to know (Cryptoslate)
• Here’s how the Norwegian Government now indirectly holds over 570 Bitcoin (Cryptoslate)
• $165 Million Bitcoin Moved to Ethereum after Uniswap’s UNI Token Launch (Cryptobriefing)
• Bitcoin, Stocks and Gold Plummet as Markets Brace for US Presidential Election (Cryptobriefing)
• Brazilian fund manager and Nasdaq to launch world’s first Bitcoin ETF

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has spent the day in a bearish pullback, which stopped at the 23.6% Fib retracement. However, its current position is just below that line, which makes it possible that it will continue its drop towards $9,300 to $9,500 levels. This push towards the downside was a bit premature, and most likely caused by the traditional market plummeting. Traditional markets have historically been slightly bearish before the presidential election, while they quickly recovered shortly after.

BTC/USD 4-hour Chart

If we take a look at the 4-hour time frame, the largest cryptocurrency by market cap has bounced off of the pink line after failing to break it, pushing further towards the downside, and ultimately breaking the 23.6% Fib retracement level. Bitcoin’s immediate position will be determined by whether it can break the 23.6% Fib retracement, but its overall short-term position is still bearish.

BTC/USD 4-hour Chart

Bitcoin’s short-term technicals have turned bearish as BTC dropped in price. However, its longer-term technicals are still bullish. With that being said, we can expect Bitcoin to drop a bit further before turning towards the upside.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is far below its 50-period EMA and its 21-period EMA
• Price slightly above its bottom Bollinger band
• RSI is extremely close to being oversold (34.92)
• Volume is slowly descending from a massive spike

Key levels to the upside          Key levels to the downside

1: $10,630                                 1: $10,500

2: $10,850                                 2: $10,015

3: $11,000                                  3: $9,880

Ethereum

While fundamental traders are calling for ETH’s price increase, most traders that take technical indicators into account are calling for a pullback towards $300. Etherum has lost over 7% of its value in the past 24 hours, with the move towards the downside ending at $340.

ETH/USD 4-hour Chart

Ethereum’s short-term technicals are still extremely bearish, while its mid-term technicals are tilted towards the bear side just a bit. With that being said, we can expect Ethereum to push towards the $300 level, unless Bitcoin pulls out of its bearish sentiment and pushes the market upwards.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is far below both its 21-period and its 50-period EMA
• The slightly above its bottom Bollinger band
• RSI is recovering from being oversold (32.42)
• Volume is descending from its spike during the downswing

Key levels to the upside          Key levels to the downside

1: $360                                     1: $340

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP has spent the day (as almost every single cryptocurrency) pushing towards the downside. While the overall market move seemed premature and looked like it was pushed by the traditional markets, that may not be the case with XRP. If we take a look at the 4-hour chart, XRP’s 4th leg of the Elliot impulse wave has ended, which prompted the price to go towards the downside. Traders can most likely expect XRP’s price pushing towards $0.21.

XRP/USD 4-hour Chart

Taking a look at the technicals, XRP is showing bearish sentiment with both its short-term and long-term indicators. Its indicators change from just bearish to extremely bearish the longer we go in time, which implies an inherent bearishness when it comes to XRP.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is well below both its 21-period EMA and its 50-period EMA
• Price is slightly above its bottom Bollinger band
• RSI is oversold but recovering (27.50)
• Volume is coming back to normal after a huge spike (low)

Key levels to the upside          Key levels to the downside

1: $0.235                                   1: $0.227 

2: $0.2454                                 2: $0.221

3: $0.266                                  3: $0.214

 

The cryptocurrency sector has mostly stayed at the same place over the weekend as Bitcoin was trying to break the psychological $11,000 resistance. Bitcoin is currently trading for $10,935, which represents an increase of 0.28% on the day. Meanwhile, Ethereum lost 1.58% on the day, while XRP lost 1.27%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies, Celo gained an astonishing 45.37% on the day, making it the most prominent daily gainer. ZB Token (33.20%) and DigiByte (15.24%) also did great. On the other hand, HedgeTrade lost 13.52%, making it the most prominent daily loser. It is followed by Flexacoin’s loss of 12.67% and yearn.finance’s loss of 9.63%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level experienced a slight increase since our last report, with its value currently being at 60.62%. This value represents a 0.48% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization stayed at virtually the same place over the weekend. Its current value is $351.13 billion, which represents a decrease of $3.37 billion when compared to our previous report.

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What happened in the past 24 hours?

_______________________________________________________________________

• DEXs rake in the retail volume while institutions stay on the sidelines (The Block)
• New EU crypto assets rules to be released by 2024: report (The Block)
• Over 140,000 addresses have claimed their 400 UNI token airdrops (The Block)
• Crypto exchange bitFlyer Europe links up with PayPal, enabling account deposits with euros (The Block)
• DeFi’s Obsession With “Fair Launches” Is Killing Innovation (Cryptobriefing)
• $165 Million Bitcoin Moved to Ethereum after Uniswap’s UNI Token Launch (Cryptobriefing)
• ETH 2.0 Won’t Fix Ethereum’s Scalability Problems, Analyst Argues (Cryptobriefing)
• Here’s how Uniswap’s (UNI) 600% rally could trigger another DeFi boom (Cryptoslate)
• Even after parabolic rally, top crypto VC thinks Ethereum DeFi isn’t overvalued (Cryptoslate)
• Profit taking Bitcoin miners won’t stop the next bull run: On-chain analyst (Cointelegraph)

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Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has spent the weekend trying to get past the psychological resistance of $11,000, but failed to do so. The daily chart shows a possible resistance level at the 61.8% Fib retracement from the Head and Shoulders pattern. If that happens, we may expect lows of $9,300 to $9,500.

BTC/USD 4-hour Chart

If we take a look at the 4-hour time frame, Bitcoin fell under the pink ascending line, which is now acting as resistance. However, this resistance is not as strong and may be surpassed with ease. Bitcoin is still struggling and trading within the range bound by $11,000 and $10,850 to the upside and downside, respectively.

BTC/USD 4-hour Chart

Bitcoin’s short-term technicals are showing bullish sentiment, while its mid-term technicals are slightly more bearish. While Bitcoin shows the most bullish sentiment out of the top three cryptocurrencies, we can expect a rebound from the current highs as BTC is unable to gain any meaningful bull push.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and just slightly above its 21-period EMA
• Price is at its middle Bollinger band
• RSI is flat but overextended to the upside (53.96)
• Volume is slowly descending

Key levels to the upside          Key levels to the downside

1: $11,000                                 1: $10,850

2: $11,090                                 2: $10,630

3: $11,460                                  3: $10,500

Ethereum

Ethereum’s price has been squeezed out of its current levels over the weekend, pushing it below the yellow bottom support (now resistance) line. However, the bears didn’t do much either, with ETH’s price descent ending after failing to break $371 to the downside. If this level breaks, we can expect a push towards the $360 support level.

ETH/USD 4-hour Chart

Ethereum’s technicals have turned towards the bear side as the price went down. While the DeFi surge should be taken into account, Ethereum looks like it will push towards the downside in the short-term.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is below both its 21-period and its 50-period EMA
• The price below its middle Bollinger band
• RSI neutral and stabilizing (45.44)
• Volume is average (two-candle spike during the downswing)

Key levels to the upside          Key levels to the downside

1: $400                                     1: $371

2: $415                                     2: $360

3: $445                                      3: $340

Ripple

When taking a look at the 1-day chart, XRP has continued its Elliot Wave impulse pattern, nearly ending the fourth part of the wave. It is expected for XRP to push towards the downside (most likely towards $0.21) as a final leg of the impulse wave.

XRP/USD 1-day Chart

XRP spent its weekend in a slow push towards the upside as a continuation of its 4th leg of the impulse wave. With that being seemingly done, we can expect more bears to enter the market quite soon. This prediction is also confirmed by XRP finding much resistance at its 21-period and 50-period moving averages.

Taking a look at its technicals, XRP is (just as Ethereum) tilted towards the sell-side. Unlike Ethereum, however, XRP is showing even more bearish sentiment on longer time frames.

XRP/USD 4-hour Chart

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is below both its 21-period EMA and its 50-period EMA
• Price is slightly below its middle Bollinger band
• RSI is neutral and stabilizing (43.93)
• Volume is average (low)

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.285                                   2: $0.235

3: $0.31                                    3: $0.227

 

The cryptocurrency sector has mostly stayed at the same place as Bitcoin was fighting for the psychological $11,000 resistance. Bitcoin is currently trading for $10,938, which represents an increase of 0.46% on the day. Meanwhile, Ethereum gained 1.8% on the day, while XRP gained 1.33%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies, |Uniswap gained an astonishing 112.59 % on the day, making it the most prominent daily gainer. ABBC Coin (28.18%) and SushiSwap (21.75%) also did great. On the other hand, Hyperion lost 19.78%, making it the most prominent daily loser. It is followed by Flexacoin’s loss of 12.93% and Celo’s loss of 11.74%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level experienced a slight decrease since our last report, with its value currently being at 60.14%. This value represents a 0.16% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization stayed at the same place in the past 24 hours. Its current value is $354.50 billion, which represents an increase of $0.59 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Decentralized exchange Uniswap goes live with a governance token, dubbed UNI (The Block)
• DEX volumes continue to soar in September, crossing almost $15 billion month-to-date (The Block)
• As network costs rise, Coinbase will require its Pro customers to pay withdrawal fees (The Block)
• Cardano Looks Poised for Further Losses, On-Chain Metrics Show (Cryptobriefing)
• Teller DeFi Credit Score Lender to Include Yield Farming (Cryptobriefing)
• Ethereum Fees Spike After Uniswap’s UNI Token Launch (Cryptobriefing)
• Kraken Becomes The First Cryptocurrency Exchange to Obtain Banking Charter (Cryptobriefing)
• Bitcoin’s social sentiment level is at a new low – could prices surge? (Cryptoslate)
• Bitcoin Supply on Ethereum Tops $1B (Coindesk)
• Tether market cap increases almost 4X in 2020 to $15 billion (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has spent the day trying to confirm its position above $11,000 or to push above it yet again after it dropped below the level. The largest cryptocurrency by market capitalization struggled to cross this psychological resistance but confirmed the $10,850 support, which puts it in a narrow range that traders can use to their advantage.

Bitcoin’s short-term indicators are a bit less bullish than a couple of days ago, as Bitcoin did not manage to break the $11,000 mark. However, its long-term technicals are still extremely tilted towards the upside.

BTC/USD 4-hour Chart

Technical factors:

• Price is above both its 50-period EMA and 21-period EMA
• Price is right between its middle and top Bollinger band
• RSI is flat but overextended to the upside (64.35)
• Volume is slowly descending

Key levels to the upside          Key levels to the downside

1: $11,000                                 1: $10,850

2: $11,090                                 2: $10,630

3: $11,460                                  3: $10,500

Ethereum

Ethereum has followed its tight movement towards the ascending trend line, which took its price a bit higher than yesterday. Technicals, as well as the influx of people using Ethereum due to UNI token launching, bumped its price up to around 2% towards the upside.

With this being said, Ethereum’s technicals have turned extremely bullish as many traders called for the double bottom that formed, propelling ETH’s price up towards $400.

ETH/USD 4-hour Chart

Technical Factors:

• The price is above both its 21-period and its 50-period EMA
• The price slightly closer to its top Bollinger band than the middle one
• RSI slowly descending (60.41)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $371                                     1: $360

2: $400                                     2: $340

3: $415                                      3: $300

Ripple

XRP has continued its push towards the upside and has continued heading towards the $0.266 resistance level. The steady push has slowed down a bit due to a decrease in volume but has shown no signs of completely stopping. XRP is in quite a good spot now, as many traders are calling for long positions (mostly on the 1-day and 1-week charts).

XRP saw a change of its short-term technicals to extremely bullish, while its mid-term technicals (1-month) are still tilted towards the sell-side. With that being said, more and more traders are slightly less bearish on XRP in the mid-term.

XRP/USD 4-hour Chart

Technical factors:

• The price is well above its 21-period EMA and its 50-period EMA
• Price is very close to its top Bollinger band
• RSI is pushing towards overbought (64.37)
• Volume is descending

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.285                                   2: $0.235

3: $0.31                                    3: $0.227

 

The cryptocurrency sector has shot up as Bitcoin pushed towards $11,000. Most cryptos ended up in the green, with some even outperforming Bitcoin. Bitcoin is currently trading for $11,019, which represents an increase of 2.72% on the day. Meanwhile, Ethereum gained 5.58% on the day, while XRP gained an astonishing 7.24%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies, DigiByte gained 23.07% on the day, making it the most prominent daily gainer. Hyperion (19.61%) and Kusama (11.85%) also did great. On the other hand, SushiSwap lost 15.68%, making it the most prominent daily loser. It is followed by Flexacoin’s loss of 11.46% and UMA’s loss of 11.43%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level experienced a slight decrease since our last report, with its value currently being at 60.30%. This value represents a 0.21% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone up significantly in the past 24 hours. Its current value is $353.89 billion, which represents an increase of $10.48 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• You can now send an email right from your Ethereum address (Cointelegraph)
• Bitcoin futures volumes on U.S. exchange Bakkt hits record (Cryptoslate)
• MicroStrategy Outperforms Nasdaq Composite After $175 Million Bitcoin Purchase (Cryptobriefing)
• Japanese Crypto Exchange Sues Binance for Role in $63 Million Bitcoin Hack (Cryptobriefing)
• Ethereum 2.0 Imminent, Serenity Phase 0 EIP Submitted (Cryptobriefing)
• Tezos to Power France’s CBDC Stablecoin Experiment (Cryptobriefing)
• Decentralized exchange Uniswap goes live with a governance token, dubbed UNI (The Block)
• Rep. Emmer says DeFi represents an alternative ‘monetary philosophy’ — and its time is coming (The Block)
• US indictments against Chinese hackers include allegations of ‘crypto-jacking’ attacks (The Block)
• Kraken is launching a crypto bank in Wyoming, paving the way for possible stock offerings (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has, as we said in our previous article, pushed towards the upside, attempting an $11,000 break. While it has broken the $11,000 psychological resistance, it got stopped out at the $11,090 resistance level. Bitcoin will have to make a confirmation move in order to stay above $11,000, which may be hard since it will be in such a tight range ($11,000 to $11,090).

Bitcoin’s short-term indicators are extremely bullish, but its longer-term indicators are also tilted towards the bull side. Traders should look out for how Bitcoin handles the $11,000 level and trade off of it.

BTC/USD 4-hour Chart

Technical factors:

• Price is above both its 50-period EMA and 21-period EMA
• Price is near its top Bollinger band
• RSI is overextended to the upside (71.42)
• Volume is stable (with a couple of spikes)

Key levels to the upside          Key levels to the downside

1: $11,000                                 1: $10,850

2: $11,090                                 2: $10,630

3: $11,460                                  3: $10,500

Ethereum

As we said in our previous article, it would take a strong push towards the upside to pull Ethereum out of the 35% downside prognosis, which many trades called since the ETH/USD pair created a bear flag. However, Bitcoin’s push towards $11,000 prompted Ethereum to push towards the upside and get back into the range.

With this being said, Ethereum hasn’t confirmed its position above the bear flag lower line, which is because the $371 level it passed will remain in our “key level to the upside” section until ETH confirms otherwise. Still, its short-term indicators have changed to a bit more bullish scenario.

ETH/USD 4-hour Chart

Technical Factors:

• The price is above both its 21-period and its 50-period EMA
• The price is right at its top Bollinger band
• RSI is neutral but pushing towards the upside (59.82)
• Volume is low and stable

Key levels to the upside          Key levels to the downside

1: $371                                     1: $360

2: $400                                     2: $340

3: $415                                      3: $300

Ripple

XRP had an amazing day, with its price pushing over 7% on the day. The third-largest cryptocurrency by market cap has used this influx of bulls to its fullest, confirming its position above $0.2454 and even pushing towards $0.266.

XRP has joined Ethereum in terms of technicals, with the short-term overview changing to a short-term buy, while its long-term technicals are still showing slight bearishness. Traders can look for a pullback that XRP will inevitably make and trade off of it.

XRP/USD 4-hour Chart

Technical factors:

• The price is above its 21-period EMA and its 50-period EMA
• Price is above its top Bollinger band
• RSI is skyrocketing and pushing towards overbought (67.99)
• Volume is low (but slowly increasing)

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.285                                   2: $0.235

3: $0.31                                    3: $0.227

 

The cryptocurrency sector has ended up with almost every single cryptocurrency in the top100 in the red. Bitcoin is currently trading for $10,707, which represents a decrease of 0.52% on the day. Meanwhile, Ethereum lost 5.13% on the day, while XRP lost 3.44%.

 Daily Crypto Sector Heat Map

If we look at the top100 cryptocurrencies, ABBC Coin gained 11.74% on the day, making it the most prominent daily gainer. Nervos Network (11.40%) and Hyperion (9.41%) also did great. On the other hand, the SushiSwap lost 34.73%, making it the most prominent daily loser. It is followed by NXM’s loss of 27.55% and Aragon’s loss of 24.48%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level experienced an increase since our last report, with its value currently being at 60.51%. This value represents a 1.04% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone down in the past 24 hours. Its current value is $343.41 billion, which represents a decrease of $6.08 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Binance is sued by Japanese crypto exchange Fisco for allegedly facilitating the laundering of $9 million (The Block)
• Bakkt’s bitcoin futures market hits all-time high after months of trailing rival CME (The Block)
• Bitcoin Still Undervalued Based on These On-Chain Indicators (Cryptobriefing)
• SEC Shuts Down Unikrn For Its $31M 2017 ICO, Commissioner Hester Peirce Dissents (Cryptobriefing)
• Tezos to Power France’s CBDC Stablecoin Experiment (Cryptobriefing)
• Technicals Show Tezos Ready to Break All-Time Highs (Cryptobriefing)
• Chainlink oracles will now power Crypto.com’s DeFi Wallet (Cryptoslate)
• Oops: Who just spent $188,000 to send millions worth of Ethereum? (Cryptoslate)
• After predicting a $2,000 drop, a top on-chain analyst is now bullish on Bitcoin (Cryptoslate)
• Privacy coins ‘pose less risk of money laundering than other coins’ (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

After a strong push towards the upside, Bitcoin has tried to consolidate just below the $10,850 mark. The largest cryptocurrency by market cap grazed the RSI overbought territory while failing to push its momentum past the $10,850 level, which held up quite nicely. Bitcoin is now stabilizing around the $10,700 level, where it will try to gather enough bull presence for another push towards $11,000.

Bitcoin’s short-term indicators are showing a bit less bull presence compared to yesterday, while its long-term indicators are still bullish.

BTC/USD 4-hour Chart

Technical factors:

• Price is above both its 50-period EMA and 21-period EMA
• Price is between the middle and top Bollinger band
• RSI is overextended to the upside but descending (63.56)
• Volume is stable

Key levels to the upside          Key levels to the downside

1: $10,850                                1: $10,630

2: $11,000                                2: $10,500

3: $11,090                                 3: $10,360

Ethereum

Ethereum has experienced quite a massive drop, considering it was not caused by a Bitcoin selloff. The second-largest cryptocurrency by market cap started its price descent and confirmed its bear flag formation. If the bear flag prediction comes true, we may experience a 35% move towards the downside from Ethereum. However, if the $360 level holds and pushes the price back up, the current move towards the downside may be called a fakeout.

With this being said, after the price has left the bear flag and confirmed it, the indicators have turned to “strong sell”. This is certainly a strong bearish indicator (or rather a set of indicators).

ETH/USD 4-hour Chart

Technical Factors:

• The price is below both its 21-period and its 50-period EMA
• The price is right below the middle Bollinger band
• RSI is neutral and descending (41.22)
• Volume is low and stable

Key levels to the upside          Key levels to the downside

1: $371                                     1: $360

2: $400                                     2: $340

3: $415                                      3: $300

Ripple

XRP had quite a wild day when looking at its price movement. The third-largest cryptocurrency by market cap fell below the $0.2454 level, which triggered a massive selloff that brought its price to the $0.235 level. However, XRP bulls quickly reacted and brought the price back up near the $0.24 level, which is where XRP is at.

XRP has joined Ethereum in terms of technicals, with the short-term overview showing a “strong sell” sign.

XRP/USD 4-hour Chart

Technical factors:

• The price is below its 21-period EMA and its 50-period EMA
• Price is below its middle Bollinger band
• RSI is neutral and descending (40.77)
• Volume is low (one-candle spike during the selloff)

Key levels to the upside          Key levels to the downside

1: $0.2454                                  1: $0.235 

2: $0.266                                    2: $0.227

3: $0.285                                   3: $0.221

 

The cryptocurrency sector has mostly been in the green in the past 24 hours, with Bitcoin leading the way towards the upside. Meanwhile, most of the tokens that ended up in the red on the daily were Ethereum (mostly DeFi) tokens. Bitcoin is currently trading for $10,763, which represents an increase of 4.09% on the day. Meanwhile, Ethereum gained 3.41% on the day, while XRP gained 2.42%.

 Daily Crypto Sector Heat Map

If we take a look at the top100 cryptocurrencies, Hyperion gained 51.28% on the day, making it the most prominent daily gainer. NXM (40.86%) and Bytom (18.97%) also did great. On the other hand, the UNUS SED LEO lost 6.72%, making it the most prominent daily loser. It is followed by Waves’ loss of 6.35% and Band Protocol’s loss of 5.57%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level experienced a slight increase since our last report, with its value currently being at 59.47%. This value represents a 0.1% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has skyrocketed in the past 24 hours. Its current value is $351.49 billion, which represents an increase of $15.59 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• CFTC files charges against 4 defendants in bitcoin investment fraud suit (The Block)
• Set Labs teams up with DeFi Pulse to launch ‘one-click exposure’ index (The Block)
• Bitcoin Bulls Bet on BTC Reaching $36,000 by Christmas (Cryptobriefing)
• All You Need to Know About the Sushi Swap Story (But Were Afraid to Ask) (Cryptobriefing)
• Crypto.com to Leverage Chainlink Oracle Price Feeds for DeFi Product (Cryptobriefing)
• Binance Chain is getting its own DeFi yield farms after Ethereum (Cryptoslate)
• Coinbase CEO blasts Apple’s “restrictive” policies towards crypto and DeFi (Cryptoslate)
• What is Pickle Finance? Ethereum DeFi craze rallies 1,000% in one day (Cryptoslate)
• Paxful, Citing Regulations and Its Own ‘Risk Tolerance,’ Exits Venezuela’s P2P Bitcoin Market (Coindesk)
• Whales can use Bitcoin to purchase private jets (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has made a move towards the upside, passing through its $10,360 and $10,500 levels. As we mentioned in our previous articles, this is a huge bullish sign, and the overall indicators are showing that as well. If the bulls regain momentum, we can expect a push towards $11,000 once the consolidation continues.

With that being said, Bitcoin’s current price movement got stopped at the $10,850 level. While this does mean that Bitcoin bulls have encountered some resistance, it certainly does not mean that the overall trend is over. Bitcoin has shown great resistance at the $10,000 psychological level, which prompted this push towards the upside.

BTC/USD 4-hour Chart

Technical factors:

• Price is above both its 50-period EMA and 21-period EMA
• Price is right at the top Bollinger band
• RSI is overextended to the upside, though with more room to go up (67.45)
• Volume is stable

Key levels to the upside          Key levels to the downside

1: $10,850                                1: $10,630

2: $11,000                                2: $10,500

3: $11,090                                 3: $10,360

Ethereum

Ethereum was extremely volatile in the past 24 hours. Its price movements were quite hectic, with the price pushing past the $371 level and reaching the $385 mark before coming back down to restest the newly-conquered level, only to go up again and down again. Ethereum is currently supported by both the 50-period and 21-period moving averages, which are right below its price level. On top of that, the $371 level was turned to a support level after a clean confirmation move.

While its technicals show a short-term buy opportunity, the long-term technicals are still tilted towards the sell side. On top of that, Ethereum has created a nice bear flag formation, which (if it turns out to be correct) can prompt a 35% move towards the downside.

ETH/USD 4-hour Chart

Technical Factors:

• The price is right above both its 21-period and its 50-period EMA
• The price is right above the middle Bollinger band
• RSI is neutral (53.36)
• Volume is low and stable

Key levels to the upside          Key levels to the downside

1: $400                                     1: $371

2: $415                                     2: $360

3: $445                                      3: $340

Ripple

XRP has managed to push itself above the $0.2454 level once again, but still hasn’t confirmed its position above it. A confirmation above this level and a slight push towards the upside will be crucial for the future of XRP, as many traders are calling for bearish scenarios and drawing a bearish flag (though this flag is a lot less picture-perfect as the one on the ETH/USD chart).

XRP is showing signs of slight short-term bullishness, while its longer-term technicals are still pointing towards the downside.

XRP/USD 4-hour Chart

Technical factors:

• The price is just above its 21-period EMA and its 50-period EMA
• Price is right above its middle Bollinger band
• RSI is neutral and pushing towards the upside(54.88)
• Volume is extremely low, but stable

Key levels to the upside          Key levels to the downside

1: $0.2454                                  1: $0.235 

2: $0.266                                    2: $0.227

3: $0.285                                   3: $0.221

 

The cryptocurrency market managed to stay relatively healthy over the weekend as most cryptos tried to consolidate rather than move. Bitcoin is currently trading for $10,343, which represents a decrease of 0.85% on the day. Meanwhile, Ethereum lost 5.22% on the day, while XRP lost 2.06%.

 Daily Crypto Sector Heat Map

If we take a look at the top100 cryptocurrencies, Flexacoin gained 13.18% on the day, making it the most prominent daily gainer. OKB (13.14%) and Waves (12.08%) also did great. On the other hand, the NXM lost 18.45%, making it the most prominent daily loser. It is followed by DFI. Money’s loss of 17.46% and yearn .finance’s loss of 16.42%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level experienced an increase since our last report, with its value currently being at 59.37%. This value represents a 4.93% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone slightly down in the past 24 hours. Its current value is $335.90 billion, which represents a decrease of $2.27 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Binance CEO wants more Ethereum-based DeFi projects to join his platform (Cointelegraph)
• Bitcoin price abruptly drops 3% after miner outflows hit 5-month high (Cointelegraph)
• Uniswap Takes Lead Over SushiSwap Less Than 24 Hours After SUSHI Rewards Drop (Coindesk)
• Growing Bitcoin Hashrate Points to Further BTC Gains (Cryptobriefing)
• Bitcoin Makes Headway Implementing Smart Contracts, ‘Most Complicated’ Part of Upgrade Complete (Cryptobriefing)
• Gemini Bitcoin Exchange Brings First DeFi Token Listing to New York (Cryptobriefing)
• Crypto.Com Has Launched a DeFi Exchange Based on Uniswap (Cryptobriefing)
• European Union official pledges action on stablecoins after calls for new curbs (The Block)
• Coinbase CEO renews critique of Apple, says tech giant preventing its app from enabling DeFi access (The Block)
• Crypto trading volumes for August saw the biggest month-over-month increase since early 2018 (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has spent the weekend steadily and slowly increasing and trying to reach past $10,500. While it has gotten past the $10,360 level once, it fell under it once the move couldn’t carry enough momentum to pass $10,500 as well. Bitcoin is currently fighting for the $360 level, with its price being right below it.

Our prediction regarding the price movement stays the same as Bitcoin did not move much over the course of the weekend. If Bitcoin doesn’t pass the $10,360 line soon, we should look for support at $9,600, and ultimately at the 200-day SMA ($9,080).

It is also important to note that, as the price movement has been muted for such a long time, it is extremely likely that, once the price moves past $10,360 or below $10,000 (with confidence), we might see a massive surge in volume extending that move. This will be a great opportunity for traders to trade on the way down, as well as the pullbacks.

BTC/USD 4-hour Chart

Technical factors:

• Price is below the 50-period EMA and right at the 21-period EMA
• Price is right at middle Bollinger band
• RSI is neutral (50.27)
• Volume is stable (slightly below average)

Key levels to the upside          Key levels to the downside

1: $10,360                                1: $10,015

2: $10,500                                2: $9,870

3: $10,630                                 3: $9,600

Ethereum

Ethereum’s price movement in the past couple of days looks exactly like Bitcoins in direction, but with much higher volatility. The second-largest crypto by market cap took the weekend to push towards $400, which ended unsuccessfully. As the move could not carry the momentum forward, bears took over and brought the price to its current position, where it is bound in a narrow range by $360 to the downside and $371 to the upside.

Ethereum’s volatility certainly comes from people investing in DeFi as Ethereum was never as volatile as it is now. However, its moves are still following Bitcoin. This volatility might be a good opportunity for traders to push for some trades.

ETH/USD 4-hour Chart

Technical Factors:

• The price is right above its 21-period and its 50-period EMA
• The price is at its middle Bollinger band
• RSI is neutral (49.14)
• Volume is low and stable

Key levels to the upside          Key levels to the downside

1: $371                                     1: $360

2: $400                                     2: $340

3: $415                                      3: $300

Ripple

XRP has not been much different from the aforementioned two cryptocurrencies. The third-largest cryptocurrency by market cap is still trading within a range bound by $0.235 to the downside and (more importantly) $0.2454 to the upside. XRP did have one a short period where it spiked above the resistance level, but the price quickly dwindled back down to its original level.

XRP is now fighting for the $0.2454 level, trying to surpass it. However, the extremely low volume shows us that this is will most likely not happen. Traders might have the opportunity to trade the pullback.

XRP/USD 4-hour Chart

Technical factors:

• The price is just above its 21-period EMA and just below its 50-period EMA
• Price is right above its middle Bollinger band
• RSI is neutral (51.35)
• Volume is extremely low, but stable

Key levels to the upside          Key levels to the downside

1: $0.2454                                  1: $0.235 

2: $0.266                                    2: $0.227

3: $0.285                                   3: $0.221

 

The cryptocurrency market has experienced large volatility in the DeFi sector, while the rest of the market was relatively stable. Bitcoin is currently trading for $10,301, which represents a decrease of 0.68% on the day. Meanwhile, Ethereum lost 0.11% on the day, while XRP lost 0.73%.

 Daily Crypto Sector Heat Map

If we take a look at the top100 cryptocurrencies, aelf gained 152.47% on the day, making it the most prominent daily gainer. Flexacoin (45.07%) and Ampleforth (35.77%) also did great. On the other hand, the SushiSwap lost 14.95%, making it the most prominent daily loser. It is followed by Elrond’s loss of 7.82% and Serum’s loss of 6.08%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level experienced a massive drop since our last report, with its value currently being at 54.44 9.29%. This value represents a 4.85% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone up in the past 24 hours. Its current value is $337.66 billion, which represents an increase of $5.84 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Binance puts up $100 million to attract DeFi projects to its new blockchain (The Block)
• Mapping out Coinbase’s acquisitions and investments (The Block)
• SushiSwap to Overthrow Uniswap? FTX Owner Stages $1 Billion Liquidity Heist (Cryptobriefing)
• Coinbase Lists yEarn Finance, YFI Pumps by 15% (Cryptobriefing)
• Crypto analyst says: Ethereum DeFi is a “once-in-a-decade” investment opportunity (Cryptoslate)
• Jack Dorsey: Bitcoin is the “best manifestation” of a native digital currency (Cryptoslate)
• Ether Traders May Be Hedging Against DeFi Slowdown: Analyst (Coindesk)
• Beijing pulls ahead of Shenzhen as China’s top blockchain city (Cointelegraph)
• Bitcoin hashrate remains strong during monsoon season (Cointelegraph)
• Bitcoin on-chain volume hits a 1-year high with only 3.6% coming from exchanges (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has spent another day trying to push past the $10,360 resistance. However, every attempt in the past few days ended up in BTC passing the level, but then coming back under it due to being unable to confirm its position above. While the resistance level weakens each time Bitcoin attempts to pass it, it brings more bears to the game as most people intuitively trade in the direction opposite to the most recent failed attempt.

If Bitcoin doesn’t pass $10,360 soon, we should look for support at $9,600, and ultimately at the 200-day SMA ($9,080).

BTC/USD 4-hour Chart

Technical factors:

• Price is below the 50-period EMA and right above the 21-period EMA
• Price is slightly closer to the middle than the top Bollinger band
• RSI is neutral (49.57)
• Volume is stable

Key levels to the upside          Key levels to the downside

1: $10,360                                1: $10,015

2: $10,500                                2: $9,870

3: $10,630                                 3: $9,600

Ethereum

Ethereum has, unlike Bitcoin, managed to gain some value as it reached past its $360 level. However, the move has ended and Ethereum is now stuck in a narrow range between $360 to the downside and $371 to the upside. The second-largest cryptocurrency by market cap has repeatedly tried to get past it, but with no success.

Ethereum’s break above $371 should establish a short-term bullishness, while a break below $360 is not as relevant, and we may look for $340 as the next support.

ETH/USD 4-hour Chart

Technical Factors:

• The price is above its 21-period while it is currently crossing the 50-period EMA
• The price is near its top Bollinger band
• RSI is neutral (52.77)
• Volume is low and stable

Key levels to the upside          Key levels to the downside

1: $371                                     1: $360

2: $400                                     2: $340

3: $415                                      3: $300

Ripple

XRP failed to break its immediate resistance of $0.2454, which triggered a small pullback. The third-largest cryptocurrency by market cap doesn’t seem like it will be able to break this level any time soon unless it gets a massive influx of bulls. Unlike the aforementioned two cryptocurrencies, XRP is a bit more stable, and failing to push above a resistance level doesn’t necessarily mean that it will attempt a move towards the downside.

XRP/USD 4-hour Chart

Technical factors:

• The price is just below its 21-period EMA and well below its 50-period EMA
• Price is sitting at the middle Bollinger band
• RSI is neutral and descending (47.20)
• Volume is low and stable

Key levels to the upside          Key levels to the downside

1: $0.2454                                  1: $0.235 

2: $0.266                                    2: $0.227

3: $0.285                                   3: $0.221

 

The cryptocurrency market recovered today as Bitcoin bulls pushed past $10,360. On top of that, Ethereum skyrocketed, netting double-digit gains on the day. Bitcoin is currently trading for $10,391, which represents an increase of 3.90% on the day. Meanwhile, Ethereum gained 11.36% on the day, while XRP gained 5.48%.

 Daily Crypto Sector Heat Map

If we take a look at the top100 cryptocurrencies, Solana gained 42.61% on the day, making it the most prominent daily gainer. Yearn.finance (24.55%) and Aave (24.03%) also did great. On the other hand, the Hyperion lost 24.27%, making it the most prominent daily loser. It is followed by Blockstack’s loss of 5.21% and Tron’s loss of 2.60%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since our last report, with its value currently being at 59.29%. This value represents a 0.60% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone up slightly in the past 24 hours. Its current value is $331.80 billion, which represents an increase of $4.90 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Correlation between Bitcoin and S&P500 nears all-time high (The Block)
• Mastercard launches customizable CBDC testing platform (The Block)
• NYAG and Bitfinex to conference with the New York Supreme Court on disputed documents (The Block)
• Digital assets are delivering outsized returns for some active managers while traditional hedge funds fumble (The Block)
• Curve Finance Fork, Swerve, Attracts “Degen” Traders with up to 493% APY (Cryptobriefing)
• Yield Farming’s Biggest Winners are Ethereum Miners, but Not for Long (Cryptobriefing)
• USDC is now capable of 1000 transactions per second with almost zero fees (Cointelegraph)
• ‘High’ Severity Bug in Bitcoin Software Revealed 2 Years After Fix (Coindesk)
• 1,000 New Token Pairs Added to Uniswap in One Week; Buyers Beware (Coindesk)
• Yearn.finance (YFI) surges 30% in 1 day: what’s fueling the rapid rally? (Cryptoslate)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has spent the past 24 hours trying to push past the $10,360 resistance level, which is key if the largest cryptocurrency by market cap wants to continue its bullish presence. Even though the level has fallen, BTC needs to reliably pass it and confirm its position above it in order to encourage more bulls to enter the market. If Bitcoin positions itself above $10,360 well, the influx of bullish pressure will most likely send its price further up towards $10,500 or even $10,630

If, however, Bitcoin manages to fall below $10,000 and confirms its position below it, we can expect to see a bear push towards $9,600 and ultimately to the 200-day SMA ($9,080).

BTC/USD 4-hour Chart

Technical factors:

• Price is below 50-period EMA while being above its 21-period EMA
• Price is hitting the top Bollinger band
• RSI is neutral and pushing towards the upside (54.00)
• Volume is stable

Key levels to the upside          Key levels to the downside

1: $10,360                                1: $10,015

2: $10,500                                2: $9,870

3: $10,630                                 3: $9,600

Ethereum

Ethereum skyrocketed in the past 24 hours, with its price reaching double-digit gains. The second-largest cryptocurrency by market cap overcame the initial rejection of the $360 level and ultimately pushed past it, reaching the $371 level and getting stopped out there. The next move Ethereum makes will be crucial and will determine its short-term future.

If Ethereum manages to pull off a confirmation move above $360, we can expect a push towards $371. However, if that does not happen, we can expect ETH to return to its previous levels.

ETH/USD 4-hour Chart

Technical Factors:

• The price is well above its 21-period while being slightly above its 50-period EMA
• The price is above its top Bollinger band
• RSI is neutral and pushing towards the upside (57.49)
• Volume is low and stable

Key levels to the upside          Key levels to the downside

1: $360                                     1: $340

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP made a move towards the upside like Ethereum and Bitcoin, but its move was more alike to Bitcoin’s than Ethereum’s. The third-largest cryptocurrency by market cap managed to gather some bullish pressure and push towards the $0.2454, which barely touched at the time of writing). However, just like with Bitcoin, XRP did not conquer this resistance level yet, and it will have to confirm its position above it in order to bring the attention of more bulls.

XRP might face another resistance level in the form of its 50-period moving average, which sits very close to its current price.

XRP/USD 4-hour Chart

Technical factors:

• The price is just above its 21-period EMA and right above its 50-period EMA
• Price is above its top Bollinger band
• RSI is neutral and moving towards the upside (54.76)
• Volume is low and stable

Key levels to the upside          Key levels to the downside

1: $0.2454                                  1: $0.235 

2: $0.266                                    2: $0.227

3: $0.285                                   3: $0.221

 

The cryptocurrency market had another pullback today, with Bitcoin coming dangerously close to $10,000. Bitcoin is currently trading for $10,087, which represents a decrease of 2.29% on the day. Meanwhile, Ethereum lost 3.26% on the day, while XRP lost 2.52%.

 Daily Crypto Sector Heat Map

If we take a look at the top100 cryptocurrencies, IOST gained 11.86% on the day, making it the most prominent daily gainer. TRON (11.78%) and Ontology (7.92%) also did great. On the other hand, the SushiSwap lost 15.01%, making it the most prominent daily loser. It is followed by Hyperion’s loss of 14.32% and Ocean Protocol’s loss of 11.46%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level stayed at the same spot since our last report, with its value is currently at 59.89%. This value represents a 0.05% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone down slightly in the past 24 hours. Its current value is $326.90 billion, which represents a decrease of $6.34 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Major food delivery service Just Eat will now allow France customers to pay in BTC (The Block)
• Volatility in Stocks May Be Strengthening Their Correlation With Bitcoin (Cryptobriefing)
• Ethereum Ready for Freefall? 30% Correction After $490 Peak (Cryptobriefing)
• Top Bitcoin analyst flips bullish after predicting the 20% retracement last week (Cryptoslate)
• User who turned $200 in Ethereum into $250k due to altcoin bug comes clean (Cryptoslate)
• DeFi Is Hot but Retail Interest Nowhere Close to ICO Frenzy (Coindesk)
• Why Bitcoin Investors Aren’t Worried About This Price Pullback (Coindesk)
• LedgerX exchange launches physically settled Bitcoin mini futures (Cointelegraph)
• Brave browser adds new tricks to protect crypto users from phishing attacks (Cointelegraph)
• Bitcoin options data shows traders anticipate BTC price to fall soon (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has been clinging to the $10,000 psychological resistance for the past 24 hours as bears took over the market yet again. The largest cryptocurrency by market cap fell well below $10,000, but quickly recovered and stayed just a bit up for the duration of the day. The reason for the sudden drop is most likely the inability to break the $10,360 resistance level. Lower time-frames show that Bitcoin might have formed a triple bottom formation, which would indicate some form of bullishness.

When it comes to predictions, we are one step closer to the bearish scenario than yesterday. A drop sustained drop below $10,000 could lead us to $9,600 and ultimately to the 200-day SMA ($9,080). On the other hand, if BTC manages to bounce off the current levels and surpass $10,500, a move to $11,000 is likely.

BTC/USD 4-hour Chart

Technical factors:

• Price is well below its 50-period, while it’s slightly below its 21-period EMA
• Price is slightly below middle Bollinger band
• RSI is neutral (43.31)
• Volume is stable

Key levels to the upside          Key levels to the downside

1: $10,360                                1: $10,015

2: $10,500                                2: $9,870

3: $10,850                                 3: $9,600

Ethereum

Ethereum had quite a bad day, with its price falling below the $340 mark. The second-largest cryptocurrency by market cap is already down over 30% from the $490 peak, with many indicators showing bearish scenarios. If the DeFi bubble pops, we can see Ethereum in freefall, though that is unlikely simply due to high yields current investors are collecting from staking.

On the other hand, while some DeFi enthusiasts cashed out and left the market due to the volatility, Ethereum’s gas prices have normalized from its Sept 2nd highs, which may be just enough to push the price slightly up or at least keep it stable.

Traders should pay attention to how Ether handles the $340 level.

 

ETH/USD 4-hour Chart

Technical Factors:

• The price is slightly below its 21-period and well below its 50-period EMA
• The price is right below its middle Bollinger band
• RSI is neutral (41.08)
• Volume is descending (low)

Key levels to the upside          Key levels to the downside

1: $340                                     1: $300

2: $360                                     2: $289

3: $371                                     

Ripple

XRP has lost a couple of percent of its value, though nothing to be scared of. The third-largest cryptocurrency by market cap tested its support level of $0.235 for a couple of times in the past 24 hours, and all attempts towards the downside failed. Many analysts are calling for XRP’s future rise, but we need to see a drastic change in volume for that to happen.

XRP traders should watch out for volume spikes, as even sideways trading is hard now due to the extremely low volume.

XRP/USD 4-hour Chart

Technical factors:

• The price is just under its 21-period, while it is well below its 50-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (45.18)
• Volume is low

Key levels to the upside          Key levels to the downside

1: $0.2454                                  1: $0.235 

2: $0.266                                    2: $0.227

3: $0.285                                   3: $0.221

 

The cryptocurrency market was quite slow today, with most cryptocurrencies establishing their positions rather than pushing towards upside or downside. Bitcoin is currently trading for $10,329, which represents an increase of 0.64% on the day. Meanwhile, Ethereum lost 2.23% on the day, while XRP lost 0.36%.

 Daily Crypto Sector Heat Map

If we take a look at the top100 cryptocurrencies, BitShares gained 9.64% on the day, making it the most prominent daily gainer. Dash (8.35%) and Zcash (5.51%) also did great. On the other hand, the Reserve Rights lost 12.27%, making it the most prominent daily loser. It is followed by Kusama’s loss of 9.38% and Arweave’s loss of 9.26%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has gone up slightly, with its value is currently at 59.84%, which represents a 0.23% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone up slightly in the past 24 hours. Its current value is $333.24 billion, which represents an increase of $1.71 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Schiff buys more Bitcoin: However, there’s a twist (Cointelegraph)
• ‘Bitcoin Pope’ faces up to 10 years in prison for running two crypto scams (Cointelegraph)
• Binance Card still on its way to Russia despite local crypto payments ban (Cointelegraph)
• Ethereum Developers Weigh Gas Rule Change to Ease Fee Pressure (Coindesk)
• Investors Buying Bitcoin Amid Price Slump to Near $10K, Data Shows (Coindesk)
• Yield farming frenzy has led to massive Ethereum, Tether withdrawals in China (Cryptoslate)
• Since March’s 50% Bitcoin crash, traders have been hesitant to overleverage (Cryptoslate)
• DeFi Forks Will Struggle Because You Can’t Fork a Community (Cryptobriefing)
• SushiSwap Experiment Serves Harsh Lesson for DeFi Community (Cryptobriefing)
• Over 40% of Ethereum mining revenue in August came from fees (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin’s price has been holding to the psychological $10,000 support all weekend, trying to stay above it. While the largest cryptocurrency by market cap managed to stay above it, this has been the second day that it couldn’t pass the $10,360 resistance. On top of that, the past 24 hours showed us a much greater spike in volume during a support retest than a resistance test. Lower time frames show that Bitcoin has possibly made a double bottom, which calls for a slightly more bullish scenario.

When it comes to predictions, nothing has changed from yesterday. If the bulls fail to break the $10,360 level soon (and sustain it), the bears will most likely make another attempt to bring the price down. A drop to the 200-day SMA ($9,080) is highly likely. On the other hand, if BTC manages to bounce off the current level and surpass the next one ($10,500), a move to $11,000 is likely. While traders should wait for a bigger move to happen before trading, small profits can be made on sideways-movement trades.

BTC/USD 4-hour Chart

Technical factors:

• Price is well below its 50-period, while it is at its 21-period EMA
• Price is slightly above middle Bollinger band
• RSI has recovered and is neutral (46.38)
• Volume is stable

Key levels to the upside          Key levels to the downside

1: $10,360                                1: $10,015

2: $10,500                                2: $9,870

3: $10,850                                 3: $9,600

Ethereum

Ethereum has broken free from its descending trend as well, with its price consolidating between the $340 and $360 levels. Ethereum tested the $340 level with a strong push towards the downside, but the level held up quite nicely. This may give Ethereum the opportunity to gather its strength and push past the $360 level.

Ethereum’s gas prices have dropped slightly from the highs it reached on Sept 2nd, which may be just enough to push the price slightly up.

Traders should pay attention to how Ether handles the $360 level.

ETH/USD 4-hour Chart

Technical Factors:

• The price is slightly below its 21-period and well below its 50-period EMA
• The price is right at its middle Bollinger band
• RSI is neutral (42.37)
• Volume is descending (low)

Key levels to the upside          Key levels to the downside

1: $360                                     1: $340

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP has also taken the day to consolidate and establish its presence at the levels it reached after its price plummeted. The third-largest cryptocurrency by market cap is currently trading within the range bound by the $0.235 and $0.2454. The most recent retest of the support level showed that $0.235 will be hard to get through for bears, while the $0.2454, as well as the 21-period moving average, will require a lot more bullish presence to get conquered as well.

XRP traders should either trade within the range or wait for a breakout.

XRP/USD 4-hour Chart

Technical factors:

• The price is just under its 21-period, while it’s well below its 50-period EMA
• Price is slightly above its middle Bollinger band
• RSI is neutral (44.06)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.2454                                  1: $0.235 

2: $0.266                                    2: $0.227

3: $0.285                                   3: $0.221

 

The cryptocurrency market has been trying to establish its position after the pullback that happened on Wednesday and Thursday. Bitcoin is currently trading for $10,260, which represents a decrease of 1.34% on the day. Meanwhile, Ethereum recovered from its big drop and gained 7.3% on the day, while XRP gained 2.67%.

 Daily Crypto Sector Heat Map

When taking a look at the top100 cryptocurrencies, SushiSwap gained 79.68% on the day, making it the most prominent daily gainer. UMA (31.22%) and Flexacoin (26.59%) also did great. On the other hand, the HedgeTrade lost 20.50%, making it the most prominent daily loser. It is followed by Hyperion’s loss of 15.70%. The rest of the market was either in the green or lost sub-1% of its value.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has gone up slightly, with its value is currently at 59.61%, which represents a 0.32% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone down slightly in the past 24 hours. Its current value is $331.58 billion, which represents a decrease of $3.07 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Binance launches ‘centralized’ automated market maker pool for liquidity providers (The Block)
• Brazil will likely have a CBDC ready in 2022, says central bank president (The Block)
• Curve fork Swerve crosses $380M in total value locked within 12 hours of launch (The Block)
• Ampleforth Extends Yield Farming Incentives on Uniswap (Cryptobriefing)
• Chainlink Endures Spam Attack: Congestion, High Fees (Cryptobriefing)
• Bitcoin and Ethereum Show Signs of Recovery Despite Recent Correction (Cryptobriefing)
• New Litecoin update shows MimbleWimble is on track (Cryptoslate)
• Peter Schiff: ‘I was wrong about Bitcoin’ (Cointelegraph)
• DeFi experts say that Ethereum 2.0 is not the answer to high gas fees (Cointelegraph)
• Dash introduces protocol versioning in update (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

After failing to break the $12,000 mark, BTC bears have taken over the market, causing the price to plummet, reaching as low as $10,000. The largest cryptocurrency by market cap took the weekend to consolidate and establish its presence above $10,000. However, the $10,360 resistance level proves its strength once again, making Bitcoin’s rebound towards the upside that much harder.

If the bulls fail to break the $10,360 level and sustain it, the bears will most likely make one more attempt to bring the price down. In this case, a drop to the 200-day SMA ($9,080) is likely. However, if BTC manages to bounce off the current level and rise above $10,500, a move to $11,000 is likely.

Traders should pay close attention to Bitcoin’s price movement around the $10,360 level, as the next move will determine its short-term future.

BTC/USD 4-hour Chart

Technical factors:

• Price is well below its 50-period and 21-period EMA
• Price is at its middle Bollinger band
• RSI is recovering from being in the oversold territory (38.77)
• Volume is descending (from extremely high)

Key levels to the upside          Key levels to the downside

1: $10,360                                1: $10,015

2: $10,500                                2: $9,870

3: $10,850                                 3: $9,600

Ethereum

Ethereum had a similar weekend as Bitcoin, as its price consolidated and tried to establish itself above the most recent low of $310. While its price did get stuck at the $360 resistance level, it increased in value much more than Bitcoin, most likely due to the growing popularity of DeFi.

With all being said, Ethereum’s short-term future will be decided by the popularity of DeFi and the problems it will encounter with extremely high Gas fees.

Traders should pay attention to how ETH handles the $360 level.

ETH/USD 4-hour Chart

Technical Factors:

• The price is well below its 21-period and 50-period EMA
• The price is near its middle Bollinger band
• RSI is neutral and recovering from being oversold (40.82)
• Volume is descending (from high)

Key levels to the upside          Key levels to the downside

1: $371                                     1: $360

2: $400                                     2: $340

3: $415                                      3: $300

Ripple

While XRP suffered the same fate as Bitcoin and Ethereum in terms of price movement, the third-largest cryptocurrency by market cap did have slight differences in the move towards the downside. XRP had several bull comebacks that tried to push the price back up, but failed due to the overall bearishness of the market.

XRP is now consolidating between the $0.235 and $0.2454, with low volume and no signs of future movement (unless the technicals change drastically).

XRP traders should watch out for any form of break of the immediate support/resistance levels.

XRP/USD 4-hour Chart

Technical factors:

• The price is well below its 21-period and 50-period EMA
• Price is near its middle Bollinger band
• RSI is recovering from being oversold (40.84)
• Volume is low (back from elevated)

Key levels to the upside          Key levels to the downside

1: $0.2454                                  1: $0.235 

2: $0.266                                    2: $0.227

3: $0.285                                   3: $0.221

 

The cryptocurrency market has been decimated after Bitcoin plummeted below $11,000. Bitcoin is currently trading for $10,260, which represents a decrease of 10.02% on the day. Meanwhile, Ethereum lost 12.07% on the day, while XRP lost 9.21%.

 Daily Crypto Sector Heat Map

When taking a look at the top100 cryptocurrencies, TRON gained 15.35% on the day, making it the most prominent daily gainer. Celo (13.98%) and ZB Token (8.75%) also did great. On the other hand, the Ampleforth lost 33.29%, making it the most prominent daily loser. It is followed by Sushi Swap’s loss of 32.41% and DFI. Money’s drop of 32.28%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has gone up slightly, with its value is currently at 59.29%, represents a 0.67% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has plummeted in the past 24 hours. Its current value is $334.65 billion, which represents a decrease of $39.74 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bank of England governor floats future ecosystem of stablecoins and CBDCs (The Block)
• DEX volumes constituted 6% of centralized exchange volumes in August (The Block)
• Why are stablecoins starting to take off in Argentina (The Block)
• Fifth Largest Bitcoin Exchange Bithumb Raided by South Korean Police (Cryptobriefing)
• WTF DeFi: Ethereum’s SushiSwap forked into “Kimchi,” “YUNO,” and other absurd projects (Cryptoslate)
• Charles Hoskinson reveals what’s in line for Cardano in September (Cryptoslate)
• Buterin, Ethereum Developers Focus on Congestion as Fees Spike Over 600% in 1 Month (Coindesk)
• Stablecoin market cap increases by $100M every single day (Cointelegraph)
• BTC dips below $10K as traders eye ‘CME gap’ (Cointelegraph)
• Brazil could have CBDC in two years, says central bank president (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

After failing to break the $12,000 mark, Bitcoin bears have taken over the market and the price plummeted, reaching as low as $10,000. While it was true that many people were bullish and called for a bull market, Bitcoin’s continuous failed attempts to break $12,000 took its toll and started a short-term bear trend that could reach $9,600 at some point.

There are many reasons that caused Bitcoin (and the rest of the crypto market) to plummet, mainly the US traditional market, DeFi, miners as well as traders.

1. The US S&P 500 index pulled back on Thursday after reaching record highs just earlier this week. This happened because of a US report showing jobless claims of over 881,000 in August. While this number was, in fact, better than expected, it is still much larger than the one that the US saw during the 2009 recession high-point (665,000). Bitcoin is not completely uncorrelated from the traditional markets and has most likely reacted slightly to this news.
2. While the DeFi craze is continuing, many believe that the fact that people are locking billions of dollars worth of Bitcoin may cause any form of market manipulation or influx of buyers/sellers much more significant due to reduced supply in circulation. It is also not implausible that DeFi is in a bubble (even some DeFi project leaders/creators such as Yearn Finance’s Andre Cronje say it), and that this is a form of a bubble “pop”.
3. Miners and traders gathered up to sell Bitcoin at the $12,000 mark, which triggered this crash. Miners tried to secure their profits and play it safe, and traders most likely did the same, as they saw strong resistance sitting at the $12,000 level. All of the big mining pools saw large BTC outflows from the wallets, incidacting a market play with the intention to take profits and secure gains.

Traders should pay attention to Bitcoin’s price movement around $10,090 and $10,400.

BTC/USD 4-hour Chart

Technical factors:

• Price is well below its 50-period and 21-period EMA
• Price is just above its lower band
• RSI is deep in the oversold territory (21.56)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $10,360                                1: $10,015

2: $10,500                                2: $9,870

3: $10,850                                 3: $9,600

Ethereum

Ethereum had a similar day to Bitcoin, with its price plummeting and reaching as low as $371. The second-largest cryptocurrency by market cap tried to break the downward pressure after dropping below $445. It quickly bounced off of $415 and pushed towards the upside. However, the $445 level was now resistance, and after a failed attempt to break it, ETH moved further down.

Ethereum is now in its consolidation/recovery stage near $380.

Traders should pay attention to any influx in volume as well as how ETH handles $415.


ETH/USD 4-hour Chart

Technical Factors:

• The price is well below its 21-period and 50-period EMA
• The price is just above the lower band
• RSI is in the oversold territory (28.35)
• Volume is descending (from extremely high)

Key levels to the upside          Key levels to the downside

1: $400                                     1: $371

2: $415                                     2: $360

3: $445                                                 

Ripple

XRP was no exception when it comes to today’s price movement. The third-largest cryptocurrency by market cap plummeted and reached as low as $0.238 before starting to recover. The price is now recovering at the $0.2454 support level, which is (at the moment) contested. It is still unsure of whether XRP will end up above or below it, so traders should watch out to a breakout to any side.

XRP/USD 4-hour Chart

Technical factors:

• The price is far below its 21-period and 50-period EMA
• Price is at its lower band
• RSI is in the oversold area (29.09)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.285                                   2: $0.235

3: $0.31                                    3: $0.227

 

The crypto sector had quite a bad day as almost every single cryptocurrency ended up in the red. Bitcoin is currently trading for $11,376, which represents a decrease of 4.26% on the day. Meanwhile, Ethereum lost 6.82% on the day, while XRP lost 9.33%.

 Daily Crypto Sector Heat Map

When taking a look at the top100 cryptocurrencies, Kusama gained 24.25% on the day, making it the most prominent daily gainer. UMA (13.51%) and JUST (9.08%) also did great. On the other hand, the Ampleforth lost 26.14%, making it the most prominent daily loser. It is followed by OMG Network’s loss of 15.44% and Aragon’s drop of 15.44%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has gone up slightly, with its value is currently at 58.62%, represents a 0.48% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has decreased significantly over the course of the day. Its current value is $375.41 billion, which represents a decrease of $15.64 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• DeFi Flippening Comes to Exchanges as Uniswap Topples Coinbase in Trading Volume (Coindesk)
• WSJ: Robinhood facing SEC investigation over dealings with high-frequency trading shops (The Block)
• Bitcoin dominance falls as Ethereum, DeFi dominate the crypto market (Cryptoslate)
• DeFi newbie Sushiswap locks up $1 billion, SUSHI pumps to ATHs (Cryptoslate)
• DeFi Lending Project Teller Finance Taps Chainlink for Unsecured Loans Product (Cryptobriefing)
• Polkadot-Based DeFi Project Plows Ahead, $205 Million Staked on Stafi (Cryptobriefing)
• yEarn’s Ethereum Vault Offers Lucrative Gains for Holding ETH (Cryptobriefing)
• Vitalik Buterin reveals why a 51% attack on ETH 2.0 ‘would not be fatal’ (Cointelegraph)
• Indian prime minister the latest victim of crypto scam Twitter hack (Cointelegraph)
• Vienna and Singapore stock exchanges embrace Bitcoin and Ethereum (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin’s push towards the upside yesterday culminated by the cryptocurrency price reaching the $12,000 mark before triggering a bear push. The largest crypto by market cap couldn’t keep its price above the level, which triggered massive bearish volume that brought the price down as low as $11,150. Bitcoin is currently consolidating right below $11,460, which it is testing and trying to get past. However, this level has proven to be a strong resistance point at the moment.

Traders should pay attention to Bitcoin’s price movement around $11,460.

BTC/USD 4-hour Chart

Technical factors:

• Price is below its 50-period and 21-period EMA
• Price is just above its lower band
• RSI is stable (38.13)
• Volume is coming back to normal after a massive spike

Key levels to the upside          Key levels to the downside

1: $11,630                                1: $11,460

2: $12,015                                2: $11,090

3: $12,330                                 3: $10,855

Ethereum

Ethereum had a similar day to Bitcoin, with its price plummeting and reaching as low as $418 after failing to break $496 to the upside. The second-largest crypto by market cap is currently near the $445 level, which is resisting any current pushes towards the upside that Ethereum makes at the moment.

With all this being said, Ethereum is still looking extremely bullish as DeFi’s volume and the number of users is reaching its all-time highs. Traders should look for a break from the $445 level.

ETH/USD 4-hour Chart

Technical Factors:

• The price is at its 21-period and below 50-period EMA
• The price is just below the middle band
• RSI is neutral (52.47)
• Volume is descending (from extremely high)

Key levels to the upside          Key levels to the downside

1: $445                                     1: $415

2: $496                                     2: $400

                                                  3: $360

Ripple

XRP was no exception when it comes to today’s price movement. The third-largest crypto by market cap crashed, at one point reaching sub-$0.266 levels. However, the price recovered, and XRP is currently consolidating at the $0.272 level. However, unlike Bitcoin and Ethereum, which seem ready to test its resistance levels, XRP’s low volume as well as price position signal that there is almost no chance it will move towards the upside on its own.

Traders should look at XRP’s next move, which will be triggered by a volume spike.

XRP/USD 4-hour Chart

Technical factors:

• The price is below its 21-period and 50-period EMA
• Price is just above its lower band
• RSI is stable and leaning towards the oversold area (39.55)
• Volume is slightly below average

Key levels to the upside          Key levels to the downside

1: $0.285                                   1: $0.266 

2: $0.31                                     2: $0.2454

3: $0.32

 

While the top cryptocurrencies had quite a slow day, the DeFi market kept going up. Bitcoin is currently trading for $11,890, which represents an increase of 2.37% on the day. Meanwhile, Ethereum gained 7.57% on the day, while XRP gained 6.91%.

 Daily Crypto Sector Heat Map

When taking a look at top100 cryptocurrencies, DFI.Money gained 111.02% on the day, making it the most prominent daily gainer. SushiSwap (35.54%) and Flexacoin (23.70%) also did great. On the other hand, the bZx Protocol lost 16.28%, making it the most prominent daily loser. It is followed by Aragon’s loss of 10.47% and Kusama’s drop of 9.44%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has gone down slightly, with its value is currently at 58.14%, represents a 0.26% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has increased significantly over the course of the day. Its current value is $391.05 billion, which represents an increase of $14.67 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Decentralized Exchange Volume Rose 160% in August to $11.6B, Setting Third Straight Record (Coindesk)
• Ethereum’s’s Yearn.finance (YFI) continues ascent to $40k as two new products come to fruition (Cryptoslate)
• Institutions are buying Litecoin (LTC) at a 1,200% price premium (Cryptoslate)
• Ethereum founder Vitalik Buterin slams the “yield farming” frenzy (Cryptoslate)
• Tezos Reaches $25 Million Settlement in a Class-Action Lawsuit Over $232M ICO (Cryptobriefing)
• All Eyes on Ethereum as ETH Makes New Yearly Highs, Aiming for $550 (Cryptobriefing)
• BitMEX rolls out mobile trading app across 140 countries (The Block)
• Ethereum transaction fees hit another all-time high amid DEX volume boom (The Block)
• Bitfinex owner invests more than $1 million in upcoming security token exchange Dusk Network (The Block)
• Tether plans to add support for the ZK-Rollups to reduce pressure on Ethereum (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

After managing to fend off the bears and establish its presence above $11,630 yesterday, Bitcoin started moving towards the upside. The largest cryptocurrency by market cap pushed towards the upside and quickly reached the $12,000 mark. However, the cryptocurrency did not stay above it for long and fell under it yet again. Bitcoin is now on a path towards the downside.

Traders should pay attention to how Bitcoin’s price reacts to its moving averages, as well as to $11,630.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period and 21-period EMA
• Price is at its middle band
• RSI is neutral (52.80)
• Volume is slightly increased

Key levels to the upside          Key levels to the downside

1: $11,630                                1: $11,460

2: $12,015                                2: $11,090

3: $12,330                                 3: $10,855

Ethereum

Ethereum had another extremely bullish day, where its parabolic rise continued. The second-largest cryptocurrency by market cap surged towards the upside and passed $445 with ease, only to be stopped a little under $490. Ethereum is now consolidating slightly below this level.

Ethereum’s parabolic price rise is attributed to a surge of interest in DeFi projects, and all they have to offer.

Ethereum traders should pay attention to DeFi announcements, as well as to how ETH will consolidate.

ETH/USD 4-hour Chart

Technical Factors:

• The price is above its 21-period and 50-period EMA
• The price is just below the upper band
• RSI is in the overbought territory (73.71)
• Volume is descending (from extremely high)

Key levels to the upside          Key levels to the downside

1: $445                                     1: $415

2: $496                                     2: $400

                                                  3: $360

Ripple

XRP, boosted by the other cryptos increasing in price, pushed towards the upside itself. The third-largest cryptocurrency by market cap managed to get past the $0.285 resistance level, and then quickly (and successfully) retested it. The move towards the upside got stopped at $0.305, and XRP is now consolidating slightly under it.

While XRP’s move seems like it ran out of steam, its volume is still relatively high, which may indicate a possibility of further volatility.

Traders should look at XRP’s volume spikes and check for any signs of its next move’s direction.

XRP/USD 4-hour Chart

Technical factors:

• The price is above its 21-period and 50-period EMA
• Price is just under its upper band
• RSI is stable and extremely close to being overbought (63.57)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $0.31                                     1: $0.285 

2: $0.32                                     2: $0.266

3: $0.3328                                3:$0.2454

 

While the top cryptocurrencies had quite a slow day, the DeFi market kept going up. Bitcoin is currently trading for $11,630, which represents a decrease of 0.38% on the day. Meanwhile, Ethereum gained 2.99% on the day, while XRP lost 0.59%.

 Daily Crypto Sector Heat Map

When taking a look at top100 cryptocurrencies, Sushi gained 110.98% on the day, making it the most prominent daily gainer. BitShares (72.48%) and Kusama (35.57%) also did great. On the other hand, DFI.Money lost 18.67%, making it the most prominent daily loser. It is followed by bZx Protocol’s loss of 13.96% and NXM’s drop of 9.34%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has gone down slightly, with its value is currently at 58.40%, represents a 0.84% difference to the downside when compared to our last report.

Daily Crypto Market Cap Chart

The crypto market cap has increased significantly over the course of the day. Its current value is $375.72 billion, which represents an increase of $3 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Binance Card to soon expand to US as Swipe taps new partnership (Cointelegraph)
• Secret contracts may soon bring privacy features to public Blockchains (Cointelegraph)
• CoinMarketCap’s leadership team leaves — four months after Binance’s acquisition (The Block)
• Robinhood, Charles Schwab report platform issues during Monday’s morning session (The Block)
• Uniswap’s Daily Volume Just Overtook Coinbase by More than $80 Million (Cryptobriefing)
• Bitcoin Traders Grow Optimistic, Pundits Predict $500K BTC (Cryptobriefing)
• Only 400,000 or so addresses have used DeFi: sign of further growth to come (Cryptoslate)
• Ethereum DeFi giant Yearn.finance (YFI) is literally up 1,000,000% since its July launch (Cryptoslate)
• Huobi and OKEx Battle for Supremacy in China (Coindesk)
• Canaan’s Q2 Loss Narrows to $2.4M From Q1 on 160% Revenue Increase (Coindesk)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

After a weekend of steady gains, Bitcoin spent the day trying to establish its presence above the newly-conquered $11,630 level. While the fight is still in progress, it seems that the largest cryptocurrency by market cap will stay above the level, thus turning it into support.

Traders should take a look at how Bitcoin handles its next resistance, which is at around $11,820.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and 21-period EMA
• Price is above its middle band
• RSI is neutral but leaning towards overbought (57.26)
• Volume is low

Key levels to the upside          Key levels to the downside

1: $11,630                                1: $11,460

2: $12,015                                2: $11,090

3: $12,330                                 3: $10,855

Ethereum

Unlike Bitcoin, Ethereum has had a great day. The second-largest cryptocurrency by market cap continued its rush towards the upside, fueled by the expansion of DeFi. The move towards the upside rekindled after ETH confirming its position above $415 and stopped (for now) at its next resistance level, which is sitting at $445. While Ethereum has a chance of breaking this level as well, it is unlikely that it will stay above it as the volume seems to be fading, while its RSI is in the overbought territory.

Ethereum traders should look for ETH’s pullback after the bullish move ends.

ETH/USD 4-hour Chart

Technical Factors:

• Price is currently above its 21-period and 50-period EMA
• Price is just below the upper band
• RSI is in the overbought territory (74.23)
• Volume is descending

Key levels to the upside          Key levels to the downside

1: $445                                     1: $415

2: $496                                     2: $400

                                                 3: $360

Ripple

XRP’s move towards the upside ended abruptly as the third-largest cryptocurrency by market cap failed to break the $0.285 resistance level. While it is still very close to it, XRP shows no signs of breaking the resistance any time soon, unless it gets external help in the form of BTC pushing the price of the whole crypto market.

On the other hand, XRP doesn’t show any signs of going down anytime soon, so we can expect some range-bound trading in the near future.

Traders should look for an opportunity within the range XRP is currently in.

XRP/USD 4-hour Chart

Technical factors:

• The price is above its 21-period and 50-period EMA
• Price is slightly above its middle band
• RSI is stable and neutral (58.98)
• Volume is low and relatively stable

Key levels to the upside          Key levels to the downside

1: $0.285                                   1: $0.266 

2: $0.31                                     2: $0.2454

3: $0.32                                    3:$0.235

 

The crypto market had a good weekend, with almost every single top cryptocurrency ending up in a net gain. Bitcoin is currently trading for $11,664, which represents an increase of 0.66% on the day. Meanwhile, Ethereum gained 4.42% on the day, while XRP gained 2.19%.

 Daily Crypto Sector Heat Map

When taking a look at top100 cryptocurrencies, UMA gained 48.99% on the day, making it the most prominent daily gainer. Flexacoin (27.54%) and bZx Protocol (26.08%) also did great. On the other hand, DFI.Money lost 17.06%, making it the most prominent daily loser. It is followed by Golem’s loss of 10.16% and NEM’s drop of 7.06%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has gone down quite a bit over the weekend and dropped below the 60% mark. Its value is currently at 59.24%, represents a 1.82% difference to the downside when compared to our last report.

Daily Crypto Market Cap Chart

The crypto market cap has increased significantly over the course of the weekend. Its current value is $372.72 billion, which represents an increase of $19.24 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Ethereum Classic Hit by Third 51% Attack in a Month (Coindesk)
• BitMEX CEO Arthur Hayes outlines four risks in Ethereum’s DeFi “proto-banks” (Cryptoslate)
• Crypto community celebrates as CNBC includes Bitcoin in Jerome Powell speech coverage (Cryptoslate)
• Fed’s Inflation Target Is Good for Bitcoin, But Investors Will Have to Wait (Cryptobriefing)
• yEarn Finance Is Turning Every DeFi Trader into a Whale (Cryptobriefing)
• Crypto.com Pay Now Powers CRO Payments From Any ERC-20 Wallet (Cryptobriefing)
• IRS memo: Cryptocurrency earned from a microtasking job is taxable income (The Block)
• FTX’s Serum goes live as DEXs end another record-breaking month for volume (The Block)
• Synthetix (SNX) surpasses $1B TVL as DeFi investor interest grows (Cointelegraph)
• Cloudflare goes down; crypto websites hit (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin spent the weekend slowly rising in price on low volume. The largest cryptocurrency by market cap rose above $11,460 and $11,630 resistance levels, turning them into support. The $11,630 level is currently being retested, but it looks like Bitcoin will stay above it unless a large spike of sellers suddenly comes to the market.

Traders should take a look at Bitcoin’s confirmation of the $11,630 level. If BTC stays above it, traders can consider Bitcoin to be moving in within a range, bound by $11,630 and $12,000.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and 21-period EMA
• Price is slightly above its middle band
• RSI is neutral but leaning towards overbought (57.95)
• Volume is low

Key levels to the upside          Key levels to the downside

1: $11,630                                1: $11,460

2: $12,015                                2: $11,090

3: $12,330                                 3: $10,855

Ethereum

After passing the descending trend and moving above it, Ethereum had a couple of days of steady gains. The second-largest cryptocurrency by market cap slowly gained ground and passed the $400 as well as $415 resistance levels along the way. The move stopped just above $430, before starting to retrace. There is a big possibility that the $415 level will be tested as a support level.

Ethereum traders should look for ETH’s reaction when the price reaches $415 again.

ETH/USD 4-hour Chart

Technical Factors:

• Price is currently above its 21-period and 50-period EMA
• Price is slightly below the upper band
• RSI is severely overbought (67.64)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $415                                     1: $400

2: $445                                     2: $360

3: $496                                      3: $340

Ripple

XRP also had a great weekend, with its price consistently moving towards the upside after briefly breaking the $0.266 support level to the downside, which is where the bullish move on Aug 27 started. While it made some progress towards the upside, XRP did not reach past any significant resistance levels. In fact, it got stopped by the $0.285 level, which it most likely won’t pass.

Due to its RSI being close to overbought, low volume, and price rejection around the $0.285 level, XRP will most likely start a move towards the downside now.

XRP traders should trade it on its way down towards $0.266 or possibly look for a bounce off of the support XRP will find on its way down.

XRP/USD 4-hour Chart

Technical factors:

• The price is above its 21-period and 50-period EMA
• Price is slightly below its upper band
• RSI is nearly overbought but is moving towards neutral (58.17)
• Volume is low and relatively stable

Key levels to the upside          Key levels to the downside

1: $0.285                                   1: $0.266 

2: $0.31                                     2: $0.2454

3: $0.32                                    3:$0.235

 

The crypto market was mostly bearish over the course of the day, with XRP losing the most out of the top cryptocurrencies. Bitcoin is currently trading for $11,341, which represents a decrease of 0.5% on the day. Meanwhile, Ethereum lost 0.44% on the day, while XRP lost 5%.

 Daily Crypto Sector Heat Map

When taking a look at top100 cryptocurrencies, Numeraire gained 29.44% on the day, making it the most prominent daily gainer. Serum (23.05%) and Uma (21.68%) also did great. On the other hand, Aragon lost 17.67%, making it the most prominent daily loser. It is followed by Kusama’s loss of 12.20% and Qtum’s drop of 11.12%.

 

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has gone up quite a bit from when our previous report, with its value currently at 61.06%. This value represents a 0.71% difference to the upside when compared to our last report.

Daily Crypto Market Cap Chart

The cryptocurrency market cap has decreased slightly over the course of the day. Its current value is $353.48 billion, which represents a decrease of $6.8 billion when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• New Fidelity Fund Brings Passive Bitcoin Investing to Institutions (Cryptobriefing)
• Coinbase, Circle unveil new upgrades to USDC stablecoin (The Block)
• Analyst: Tether (USDT) is maybe doing more to skirt capital controls than Bitcoin (Cryptoslate)
• Darknet marketplace “Empire” exit scams with $30 million in Bitcoin (Cryptoslate)
• Report indicates banks launder more money than Bitcoin and other cryptos (Cryptoslate)
• Aave (LEND) becomes first Ethereum DeFi token to hit $1 billion valuation (Cryptoslate)
• Miners’ Bitcoin Holdings Reach Two-Year High to Almost 2M (Coindesk)
• Chainalysis Report Shows Healthy Crypto Usage in Venezuela (Coindesk)
• Youtube’s Whac-a-Mole Approach to Crypto Scam Ads Remains a Problem (Coindesk)
• Bitcoin price to $500,000: Winklevoss twins lay out ultimate bullish case (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin was extremely volatile in the past 24 hours, with its price ranging from $11,110 to $11,600. The largest cryptocurrency by market capitalization is still below the $11,460 resistance level and seems like its preparing a move (most likely to the downside).

The price of Bitcoin has declined by more than 6% in the last three days and that along with the fact that $700 million Bitcoin futures expiry is approaching, traders are nervous and have a bearish scenario in mind. Many technical analysts believe that Bitcoin has two paths ahead at the moment: $16,000 or $9,600.

Traders should take a look at Bitcoin’s movement around $11,460 before trading.

BTC/USD 4-hour Chart

Technical factors:

• Price is below its 50-period EMA and 21-period EMA
• Price is below its middle band
• RSI is neutral but leaning towards oversold (41.82)
• Volume is average (one-candle spike)

Key levels to the upside          Key levels to the downside

1: $11,460                                1: $11,090

2: $11,630                                2: $10,855

3: $12,015                                 3: $10,500

Ethereum

The second-largest cryptocurrency by market capitalization continued its path above the descending trend line. While being above this line is a positive thing, Ethereum is still losing value as it’s gripping the line and following it down. If ETH decides to test the upside, it will encounter some turbulence way before its major resistance at $415.

If, however, Ethereum pushes towards the downside, it will fall back into the trend and possibly rush towards the bottom trend line.

Ethereum traders should look for Ethereum’s volume spike and push towards the upside.

ETH/USD 4-hour Chart

Technical Factors:

• Price is currently below its 21-period and 50-period EMA
• Price is slightly below the middle band
• RSI is neutral (45.39)
• Volume is very low (With volume spike when the trend line was retested)

Key levels to the upside          Key levels to the downside

1: $415                                     1: $400

2: $445                                     2: $360

3: $496                                      3: $340

Ripple

XRP had an incredibly bad day, as bears took over the market and pushed its price down. The third-largest cryptocurrency by market cap dropped under the $0.266 support, and then immediately tried to head back up (without any success). While the price is still near the $0.266 level, it is unlikely that XRP will confidently move above it unless Bitcoin pulls the whole crypto market up by a sudden move to the upside.

XRP traders should look for how the cryptocurrency reacts to the $0.266 level and trade-off of that info.

XRP/USD 4-hour Chart

Technical factors:

• The price is below its 21-period and 50-period EMA
• Price is slightly above its lower band
• RSI is at the oversold line (30.19)
• Volume is unstable and cycling between average (low) and extremely high volume candles

Key levels to the upside          Key levels to the downside

1: $0.285                                   1: $0.266 

2: $0.31                                     2: $0.2454

3: $0.32                                    3:$0.235