Tag: cryptocurrency

The crypto market has spent this weekend mostly with low volatility and one Bitcoin’s sudden price spike, which triggered the market for a short while.  Bitcoin is currently trading for $9,755, which represents an increase of 0.59% on the day. Meanwhile, Ethereum gained 0.42% on the day, while XRP lost 0.7%.

Loopring took the position of today’s biggest daily gainer, with gains of 21.23%. IOST lost 3.13% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance increased slightly since we last reported, with its value currently at 65.25%. This value represents a 0.11% difference to the upside when compared to Friday’s value.

The cryptocurrency market capitalization decreased slightly over the weekend, with the market’s current value being $276.32 billion. This value represents an increase of $1.33 billion when compared to the value it had on Friday.

What happened in the past 24 hours

Another ransomware attack targeting the aerospace industry

ST Engineering Aerospace’s subsidiary (located in the US) suffered a ransomware attack that extracted somewhere around 1.5TB of sensitive data from their database. This Singapore-based company was, as the report says, attacked by the well-known ransomware organization called Maze.

The report shows that the data stolen by these criminals is related to many things, including contract details with various governments, organizations, as well as airlines across the globe.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has spent the weekend without much turbulence. The price was on a slow downward-facing path, testing and slowly breaking narrow ranges until bulls seem to have had enough. The price then jumped up from $9,350 to $9,820 before coming back to the levels it is at at the moment. The $9,735 level is currently being tested.

Bitcoin’s volume was decreasing gradually throughout the weekend until the most recent rise, which caused the price to go up.

Key levels to the upside                    Key levels to the downside

1: $9,870                                           1: $9,735

2: $10,010                                         2: $9,580

                                                           3: $9,250

Ethereum

Ethereum’s chart looks similar to Bitcoin’s chart, though the moves to both the upside and downside aren’t as pronounced. The second-largest cryptocurrency by market cap gradually decreased in price until the bulls stepped in and brought the price from $235 to $245. The bottom of this descending mini-trend was seemingly the 50-period moving average.

Ethereum’s volume increased during the upswing but quickly returned to its usual (low) levels.

Key levels to the upside                    Key levels to the downside

1: $251.4                                            1: $240

2: $260                                              2: $225.4

                                                           3: $217.6

Ripple

XRP has spent the weekend trading within a narrow range, bound by $0.2 support and $0.205 resistance level. Both of these levels got tested, but none showed any definitive signs of breaking. XRP’s future price direction will most likely be determined by Bitcoin’s next move.

Key levels to the upside                    Key levels to the downside

1: $0.205                                           1: $0.2

2: $0.214                                           2: $0.19

 3: $0.227                                                        

The crypto market has spent the day with low volatility as it was trying to consolidate.  Bitcoin is currently trading for $9,778, which represents an increase of 1.31% on the day. Meanwhile, Ethereum gained 0.16% on the day, while XRP lost 0.7%.

Wax took the position of today’s biggest daily gainer, with gains of 62.34%. Zilliqa lost 8.4% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance increased slightly since we last reported, with its value currently at 65.14%. This value represents a 0.07% difference to the upside when compared to yesterday’s value.

The cryptocurrency market capitalization increased slightly as most cryptos gained some value when compared to yesterday. The market’s current value is $277.65 billion. This value represents an increase of $2.3 billion when compared to the value it had yesterday.

What happened in the past 24 hours

NetWalker attacking US universities with ransomware

A ransomware gang called NetWalker claims to have successfully attacked three large US universities within the last seven days. They say that their latest attack was aimed against the University of California San Francisco, while that they also attacked Michigan State University and Columbia College of Chicago.

NetWalker threatened to leak all the sensitive data they have acquired in less than a week if they don’t receive a crypto payment in Bitcoin. The information came from Michigan State, Columbia College of Chicago, and UCSF themselves.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has spent the day slowly testing its support and resistance levels. After breaking the $9,735 to the upside but failing to conquer $9,870, Bitcoin started to drop in price and retest $9,735 as a support level. It has held up quite nicely so far, with no indications of BTC falling below it with this volume.

Bitcoin’s volume reduced drastically when compared to the past week, while its RSI is at 58.

Key levels to the upside                    Key levels to the downside

1: $9,870                                           1: $9,735

2: $10,010                                         2: $9,580

                                                           3: $9,250

Ethereum

Ethereum had a great little run towards the upside yesterday, passing the $240 level and trying to consolidate above it. The consolidation has continued since, with Ethereum successfully getting $240 as a support level. The 4-hour 21-period moving average seems to be holding the price above the level as well.

Ethereum’s volume drastically reduced and is almost non-existent, while its RSI level is at 56.

Key levels to the upside                    Key levels to the downside

1: $251.4                                            1: $240

2: $260                                              2: $225.4

                                                           3: $217.6

Ripple

XRP didn’t perform its consolidation, as well as Ethereum, did after a good run towards the upside they had. The third-largest cryptocurrency by market cap fell under the $0.205 level after testing its strength as a support level. However, the current increase in volume indicates that XRP might get above it once again.

XRP’s volume was mostly lower than yesterday, while its RSI level is at 50.

Key levels to the upside                    Key levels to the downside

1: $0.205                                           1: $0.2

2: $0.214                                           2: $0.19

 3: $0.227                                                        

The crypto market has spent the day slowly gaining upward momentum and testing resistance levels.  Bitcoin is currently trading for $9,655, which represents an increase of 1.55% on the day. Meanwhile, Ethereum gained 3.21% on the day, while XRP gained 1.3%.

HedgeTrade took the position of today’s biggest daily gainer, with gains of 29.13%. ABBC Coin lost 4.23% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance decreased slightly since we last reported, with its value currently at 65.07%. This value represents a 0.15% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization increased slightly as most cryptos gained some value when compared to yesterday. The market’s current value is $275.19 69.53 billion. This value represents a decrease of $14 billion when compared to the value it had yesterday.

What happened in the past 24 hours

The US becoming the new mining giant

Marathon Patent Group, a US-based company, announced that it had installed 700 units of Bitcoin mining application-specific integrated circuit (ASIC) units.

According to the June 3 announcement, Marathon Patent Group has installed 700 Whatsminer M30S+ ASICs that were produced by MicroBT. On top of that, the company is reportedly waiting for a delivery from BitMain (the leading mining ASIC producer) of 1,160 AntminerS19 Pro units.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has spent the day slowly testing resistance levels and gaining a slight bit of value. Once the price stabilized around the $9,450 level, Bitcoin started working its way up, slowly testing and then passing the $9,580 level. It is now in the process of testing this level to determine whether it will turn into support or if the price will go back down.

Bitcoin’s volume reduced drastically when compared to yesterday, while its RSI is at 52.

Key levels to the upside                    Key levels to the downside

1: $9,735                                           1: $9,580

2: $9,870                                           2: $9,250

3: $10,010                                          3: $9,120

Ethereum

Ethereum has outperformed Bitcoin on the daily as it made more bold moves throughout the day. The second-largest cryptocurrency by market capitalization did the same as Bitcoin, just with a larger percentage gain. Its price stabilized around the $235 level before it started moving up, passing the $240 resistance and reaching $246.3. The price is now on a slight decline and possibly testing the $240 level.

Ethereum’s volume came back to below-normal levels after yesterday’s downswing, while its RSI level is at 58.5.

Key levels to the upside                    Key levels to the downside

1: $251.4                                            1: $240

2: $260                                              2: $225.4

                                                           3: $217.6

Ripple

XRP didn’t do anything to differ that much from the other two aforementioned cryptocurrencies. The third-largest cryptocurrency by market cap managed to reach past the $0.205 level after a whole day of slowly moving up. It is currently in the process of testing the level as support. XRP’s moves above $0.205 are seemingly more violent and volatile, while the moves below it are slower and more gradual.

Key levels to the upside                    Key levels to the downside

1: $0.214                                           1: $0.205

2: $0.227                                           2: $0.2

                                                           3: $0.19

The crypto market has declined and lost all the gains it made yesterday. This was all due to, allegedly, a large unknown Bitcoin miner moving and selling his coins.  Bitcoin is currently trading for $9,514, which represents a decrease of 6.12% on the day. Meanwhile, Ethereum lost 3.99% on the day, while XRP lost 4.09%.

Flexacoin took the position of today’s biggest daily gainer, with gains of 13.68%. Nexo lost 17.32% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance decreased slightly since we last reported, with its value currently at 65.22%. This value represents a 0.64% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization decreased drastically as most cryptos went back down in price when compared to yesterday’s value. The market’s current value is $269.53 billion. This value represents a decrease of $14 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Miners selling more BTC than they created

One of the largest unknown mining pools moved and sold thousands of Bitcoin, which allegedly triggered the price crash. This miner has produced 51 blocks over the past four days, earning 637.5 BTC in that period (this represents 9% of the total rewards mined in that period).

While some speculate that this mining pool is capitulating, it might be that it is only moving and selling Bitcoin as it reached the price point they want to sell at.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization lost all of the gains it made just a day after breaking $10,000. The move towards the downside was just as sharp as the one to the upside and with even greater volume. While the price fell to $9,120 at one point, it stabilized just below the $9,580 resistance level.

Bitcoin’s volume is still elevated from the bearish move, while its RSI fell to 46.

Key levels to the upside                    Key levels to the downside

1: $9,580                                           1: $9,250

2: $9,735                                           2: $9,120

3: $9,870                                            3: $8,980

Ethereum

Ethereum followed Bitcoin’s spike yesterday as well as its collapse today. The second-largest cryptocurrency by market cap fell down to the $225.4 level before bouncing back and consolidating at above-$235 levels. Ethereum’s move towards the downside also managed to surpass the upswing in terms of magnitude as well as volume.

Ethereum’s volume came back to normal after the downswing, while its RSI level is at 52.5.

Key levels to the upside                    Key levels to the downside

1: $240                                               1: $225.4

2: $251.4                                           2: $217.6

3: $260                                               3: $198

Ripple

XRP also had quite a violent day in terms of price movement. The third-largest cryptocurrency by market cap lost all its gains in a matter of minutes as its price fell from $0.215 all the way down to $0.197. However, the price went up slightly and started consolidating at the $0.202 level, right in between the support of $0.2 and resistance of $0.205.

Key levels to the upside                    Key levels to the downside

1: $0.205                                           1: $0.2

2: $0.214                                           2: $0.19

3: $0.227                                                         

The crypto market has spent the day making moves to the upside as Bitcoin broke $10,000.  Bitcoin is currently trading for $10,115, which represents an increase of 6.14% on the day. Meanwhile, Ethereum gained 4.96% on the day, while XRP gained 3.68%.

Nexo took the position of today’s biggest daily gainer, with gains of 20.30%. Flexacoin lost 12.56% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance increased slightly since we last reported, with its value currently at 65.86%. This value represents a 0.24% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization increased drastically as most cryptos went up in price when compared to yesterday’s value, with its current value being $283.53 billion. This value represents an increase of $16.27 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Miners selling more BTC than they created

A report shows that Bitcoin miners sold 11% more Bitcoin than they were able to generate over the same period. The report comes from the ByteTree chain analysis portal.

According to ByteTree’s metric that tracks Bitcoin wallet addresses that are associated with miners, somewhere around 5,800 BTC was generated in the past seven days, while over 6,500 were sold by performing so-called “first spend” transactions.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization finally broke $10,000 in an explosive attempt. After days of consolidation around the $9,300-$9,800 level, Bitcoin soared and went past many resistance levels, only to land back in the ascending trend it was in a while ago. The trend clearly keeps Bitcoins price within it (as shown on the chart), which is certainly a good thing in the short-term. However, long-term, this trend will be unsustainable. Traders can look for the exit from the trend as an opportunity to make a trade.

Bitcoin’s volume increased greatly during the spike but has since returned to normal. Its RSI level is in the overbought territory at the moment.

Key levels to the upside                    Key levels to the downside

1: $10,350                                         1: $10,010

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

                                                          3: $9,735

Ethereum

Ethereum followed Bitcoin’s spike and caught the train to the upside as well. The second-largest cryptocurrency by market cap managed to break the $240 resistance level and establish itself just below the $251.4 resistance, which it got rejected from overtaking.

Ethereum’s volume is currently normalizing, while its RSI level is walking on the overbought territory line.

Key levels to the upside                    Key levels to the downside

1: $251.4                                              1: $240

2: $260                                           2: $225.4

                                                           3: $217.6

Ripple

XRP didn’t do anything out of the ordinary and followed Bitcoin’s initiative towards the upside as well. The third-largest cryptocurrency by market cap is possibly creating a double top after being rejected from the $0.214 resistance level, which may open up short trades with the target of $0.205. However, traders may want to wait for confirmation in terms of volume or some other metric.

XRP’s volume increased (on average) in the past few days), while its RSI level is currently at 62.5.

Key levels to the upside                    Key levels to the downside

1: $0.214                                           1: $0.205

2: $0.227                                           2: $0.2

                                                           3: $0.19

The crypto market has spent the weekend mostly without any big moves.  Bitcoin is currently trading for $9,469, which represents a decrease of 1.75% on the day. Meanwhile, Ethereum lost 4.2% on the day, while XRP lost 1.37%.

Zilliqa took the position of today’s biggest daily gainer, with gains of 8.93%. Matic Network lost 12.56% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance decreased slightly since we last reported, with its value currently at 65.62%. This value represents a 0.77% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization increased when compared to Friday’s value, with its current value being $266.8 billion. This value represents an increase of $1.3 billion when compared to the value it had on Friday.

What happened in the past 24 hours

John McAfee on his prediction

John McAfee, a controversial cryptocurrency advocate, posted a tweet stating that his previous prediction of Bitcoin reaching $1 million a nonsense and that people who believed his prediction are absurd.

He repeated that the prediction was a joke and that the statement is ridiculous, as “If Bitcoin ever hit $1 million, it’s market cap would be greater than the entire North American Continent GDP.”

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization spent the weekend without much movement, except for the one push towards $10,000, which got shut down pretty quickly. Bitcoin is currently almost at the same place as when we last reported on Friday. It is bound within the resistance level of $9,580 and support of $9,250.

Bitcoin’s volume is slightly lower than during the past week, while its RSI is currently at 55.

Key levels to the upside                    Key levels to the downside

1: $9,580                                           1: $9,250

2: $9,735                                           2: $9,120

3: $9,870                                            3: $8,980

Ethereum

Ethereum has, unlike Bitcoin, made some moves over the weekend. The second-largest cryptocurrency by market capitalization surpassed its $225.4 resistance level, turning it into support. The push towards the upside even broke $240, but quickly returned below it. The move was accompanied by soaring volume.

Ethereum’s volume is currently normalizing, while its RSI level came back from the overbought levels and is now at 60.

Key levels to the upside                    Key levels to the downside

1: $240                                               1: $225.4

2: $251.4                                           2: $217.6

                                                           3: $198

Ripple

XRP’s chart showed us quite a bit of volatility throughout the weekend. The third-largest cryptocurrency by market cap had a bull run, which broke the $0.2 resistance without any effort, $0.205 resistance with a bit of effort, and then stopped at $0.214 when the bulls ran out of steam. The price has since returned to the $0.205 levels, where XRP is fighting for whether the price will end up above or below it.

XRP’s volume increased when compared to the previous week, while its RSI level is currently at 53.5

Key levels to the upside                    Key levels to the downside

1: $0.205                                           1: $0.2

2: $0.214                                           2: $0.19

3: $0.227                                            3: $0.1785

The crypto market has spent the day gaining some more value, with Ethereum performing the best out of the top10 cryptos.  Bitcoin is currently trading for $9,512, which represents an increase of 4.15% on the day. Meanwhile, Ethereum gained 7.92% on the day, while XRP gained 2.24%.

Bancor took the position of today’s biggest daily gainer, with gains of 33.09%. Theta lost 6.56% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance stayed at the same place since we last reported, with its value currently at 66.39%. This value represents a 0.02% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization increased when compared to yesterday’s value, with its current value being $265.5 billion. This value represents an increase of $9.18 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Goldman Sachs vs. Bitcoin investors

Goldman Sachs announced in its most recent conference call with investors that Bitcoin is not an asset class and that people shouldn’t invest in it. However, Bitcoin investors seem to not follow this advice, as the largest crypto by market cap increased from $8,800 to over $9,500 since then.

The rise may be somewhat related to recent news from Grayscale, a financial institution that believes in Bitcoin. Grayscale Bitcoin Trust analysis has shown that Grayscale has bought 150% of the newly-mined Bitcoin since the halving.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization came back above $9,000 yesterday, only to break out again and push for $9,500 today. The move was stopped by $9,580 and Bitcoin went down slightly since. However, the outlook seems quite bullish and the possibility of breaking $10,000 in the short-term is incredibly high.

Bitcoin’s volume is returning to normal after a surge during the big price increase, while its RSI on the 4-hour chart approaches 66.

Key levels to the upside                    Key levels to the downside

1: $9,580                                           1: $9,250

2: $9,735                                           2: $9,120

3: $9,870                                            3: $8,980

Ethereum

Ethereum has finally gathered enough bullish pressure to attempt a break of a long-time resistance of $217.6. The push was successful and Ethereum is now trading at $220 after being stopped by the $225.4 resistance. This move is very important for Ethereum as it shows that its moves do not fully rely on Bitcoin’s initiative (or that even if they do, they can do better than Bitcoin).

Ethereum’s volume is above average for the whole day, while its RSI level on the 4-hour chart is at 72.3.

Key levels to the upside                    Key levels to the downside

1: $225.4                                            1: $217.6

2: $240                                              2: $198

3: $251.4                                            3: $193.6

Ripple

XRP’s chart shows that the third-largest cryptocurrency (XRP retook the third place from USDT with its most recent move) by market cap is in a pretty important stage. While the most recent move broke it from the loop of constantly making new lower highs, the move got stopped by the horizontal $0.2 resistance level.

XRP’s volume is higher than average for the whole day, while its RSI level is just under 60.

Key levels to the upside                    Key levels to the downside

1: $0.2                                               1: $0.19

2: $0.205                                           2: $0.1785

3: $0.214                                            

The crypto market has spent the day trying to reach new highs (and mostly succeeding in doing that).  Bitcoin is currently trading for $9,229, which represents an increase of 4.22% on the day. Meanwhile, Ethereum gained 3.04% on the day, while XRP gained 1.67%.

Electroneum took the position of today’s biggest daily gainer, with gains of 17.25%. Theta lost 0.97% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance increased quite a bit since we last reported, with its value currently at 66.41%. This value represents a 0.74% difference to the upside when compared to yesterday’s value.

The cryptocurrency market capitalization increased when compared to yesterday’s value, with its current value being $256.32 billion. This value represents an increase of $7.2 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Craig Wright exposed?

The Kleiman estate legal team has announced that they have submitted evidence of 145 addresses so far claimed by Craig Wright are not controlled by him at all. They said that the new evidence proves the “CSW Filed List” is definitively not a list of Wright’s Bitcoin addresses, but instead a “purposeful fabrication” by Wright.

May 24 brought us a Bitcoin transaction signed by the private keys that belong to one of the CSW filed list addresses, saying, “Craig Steven Wright is a liar and a fraud. He doesn’t have the keys used to sign this message … We are all Satoshi.”

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization came back above $9,000 yet again as bulls came into the market. The price increase was most likely caused by the confirmation that the message sent from one of the CSW list addresses (which is supposedly owned by Satoshi Nakamoto) claiming that he is a fraud.

Bitcoin’s volume returned to normal after a surge during the big price increase, while its RSI on the 4-hour chart approaches 61.

Key levels to the upside                    Key levels to the downside

1: $9,250                                           1: $9,120

2: $9,580                                           2: $8,980

3: $9,735                                            3: $8,820

Ethereum

Ethereum has spent the day following Bitcoin’s initiative and pushing towards the upside. The second-largest cryptocurrency by market capitalization managed to reach $209 before losing momentum. While the uptick Ethereum has made is good, the fact that ETH has created another lower high does not look well as far as mid-term analysis is concerned.

Ethereum’s volume doubled during the uptick, while its RSI started reverting after reaching the value of 58.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.4                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP’s chart looked a lot like Ethereum’s chart yet another time. The fourth-largest cryptocurrency by market cap has created another lower high after a move up that brought it (briefly) to just above $0.2. However, the movement lost momentum, and XRP seems to be in a downturn at the moment.

XRP’s volume increased to several times its average during the uptick but quickly returned to its average levels. Its RSI on the 4-hour chart is currently at 54.

Key levels to the upside                    Key levels to the downside

1: $0.2                                               1: $0.19

2: $0.205                                           2: $0.1785

3: $0.214                                            

The crypto market has spent the day slowly testing out immediate support and resistance levels.  Bitcoin is currently trading for $8,836, which represents a decrease of 1.28% on the day. Meanwhile, Ethereum lost 0.37% on the day, while XRP gained 0.08%.

SOLVE took the position of today’s biggest daily gainer, with gains of 15.32%. Theta Fuel lost 10.48% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance decreased quite a bit since we last reported, with its value currently at 65.77%. This value represents a 0.34% difference to the downside.

The cryptocurrency market capitalization decreased when compared to yesterday’s value, with its current value being $249.12 billion. This value represents a decrease of $0.87 billion when compared to the value it had yesterday.

What happened in the past 24 hours

BTC transaction fees

After spiking to Feb 2018 level-highs just a week ago, the average Bitcoin transaction fee has dropped by more than 50%.

The data shows that Bitcoin’s average fee fell from $6.65 on May 20 all the way down to $3.07 on May 25, representing a nearly 54% decrease.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization had quite a slow day of testing its support and resistance levels. As it failed to break $8,980 resistance line, Bitcoin started dropping towards the downside and only stopping at the $8,650 support level. However, the bounce from the $8,650 level was strong enough to put Bitcoin back to where it was, practically nullifying all efforts made by both the bulls and the bears.

Bitcoin is still trading between the $8,820 support and $8,980 resistance. Breaking above the resistance level could trigger another strong push towards the upside, while a break below the support is less valuable as a signal (unless accompanied by a strong volume and goes below $8,650).

Key levels to the upside                    Key levels to the downside

1: $8,980                                           1: $8,820

2: $9,120                                           2: $8,650

3: $9,250                                            3: $8,000

Ethereum

Ethereum has spent most of the day dropping towards the $198 support line and testing its strength. The level held strong, and ETH bulls came in and picked up the slack and struck when bears were weakened from the push. Ethereum has, over a couple of hours, managed to reach $205 levels.

Ethereum’s volume is still incredibly small, while its RSI is in the middle of the value range.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.4                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP’s chart looked a lot like Ethereum’s chart yet again. The price has fallen slightly as bears tried to take over the market, but it then corrected to the upside and came back to the previous levels. Out of the three cryptocurrencies we are covering, XRP was the only one that ended up in the green today.

XRP’s volume decreased slightly when compared to yesterday, while its RSI stayed just below the middle of the value range.

Key levels to the upside                    Key levels to the downside

1: $0.2                                               1: $0.19

2: $0.205                                           2: $0.1785

3: $0.214                                            

The crypto market has spent the day trying to slowly regain the lost value. However, most of the cryptocurrencies failed in doing so, which triggered a small pullback.  Bitcoin is currently trading for $8,893, which represents an increase of 0.52% on the day. Meanwhile, Ethereum lost 0.4% on the day, while XRP lost 0.06%.

THETA took the position of today’s biggest daily gainer, with gains of 16.53%. Theta Fuel lost 19% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance increased quite a bit since we last reported, with its value currently at 66.11%. This value represents a 0.22% difference to the upside.

The cryptocurrency market capitalization decreased when compared to yesterday’s value, with its current value being $249.89 billion. This value represents a decrease of $5.87 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Tether

Tether (USDT) has managed to overtake Ripple’s XRP and became the third-largest cryptocurrency by market capitalization. Ripple has, as a consequence, fell to fourth place.

While many explain this event with XRP’s failure to gain adoption amongst retail investors, Tether’s insane volume, as well as constant total market cap additions, made this “dethroning” event possible.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization tried to recover from its most recent bear push which brought it under $9,000. It tried to revitalize and go for the $9,000 push even though the volume was quite low. As expected, the move got stopped at $8,980 and Bitcoin retraced to $8,820, where the support stopped the move.

Bitcoin is currently trading between the $8,820 support and $8,980 resistance. Breaking above the resistance level might trigger another strong push up, while a break below the support has less of a chance of turning into a sharp move down.

Key levels to the upside                    Key levels to the downside

1: $8,980                                           1: $8,820

2: $9,120                                           2: $8,650

3: $9,250                                            3: $8,000

Ethereum

Ethereum has, after bouncing from the $198 level, started to recover and gain a bit of value slowly. However, the most recent Bitcoin move stopped Ether from freely rising even more, triggering a stagnation (or a slow retracement) phase.

Ethereum’s volume is incredibly small, while its RSI is in the middle of the value range, both suggesting that there is no independent move on the horizon.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.4                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP’s chart looked a lot like Ethereum’s chart in the past couple of days. The now-fourth-largest cryptocurrency by market cap was slowly rising towards its $0.2 resistance, when it was stopped by Bitcoin’s retracement after failing to break $9,000. XRP retraced just slightly, and is already stabilizing.

XRP’s volume decreased slightly when compared to yesterday, while its RSI stayed in the middle of the value range.

Key levels to the upside                    Key levels to the downside

1: $0.2                                               1: $0.19

2: $0.205                                           2: $0.1785

3: $0.214                                            

The crypto market has spent the weekend retracing as Bitcoin fell under $9,000.  Bitcoin is currently trading for $8,790, which represents a decrease of 5.05% on the day. Meanwhile, Ethereum lost 3.15% on the day, while XRP lost 3.4%.

Theta Fuel took the position of today’s biggest daily gainer, with gains of 59.67%. DxChain Token lost 19.32% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance decreased quite a bit since we last reported, with its value currently at 65.89%. This value represents a 1.16% difference to the downside.

The cryptocurrency market capitalization decreased when compared to Friday’s value, with its current value being $256.67 billion. This value represents a decrease of $5 billion when compared to the value it had on Friday.

What happened in the past 24 hours

Goldman Sachs hosting a conference on crypto 

Goldman Sachs, the largest investment bank in the world, will host a conference call titled US Economic Outlook & Implications of Current Policies for Gold, Inflation, and Bitcoin on May 27.

The event will be hosted by Sharmin Mossavar-Rahmani, the Chief Investment Officer of Goldman Sachs’ Investment Strategy Group, Harvard economics professor Jason Furman, as well as Goldman Sachs’ chief economist Jan Hatzius.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization had quite turbulent weekend as its price dropped below $9,000. The 4th failed attempt of going above $10,000 on May 20 confirmed the appearance of another bearish turn for Bitcoin. However, the most recent events regarding Bitcoin mining, Satoshi Nakamoto and many more made bulls scared and bears more eager to sell their Bitcoin.

The price found support at the $8,650 level, with it currently pushing towards $8,820.

Key levels to the upside                    Key levels to the downside

1: $8,980                                           1: $8,820

2: $9,120                                           2: $8,650

3: $9,250                                            3: $8,000

Ethereum

While Ethereum did follow Bitcoin in its move towards the downside, it did not quite match its intensity. The second-largest cryptocurrency by market cap retraced as bears took over the market, but only fell in price up to the $198 support level. It has consolidated since and even made moves towards regaining previous highs.

Ethereum’s volume increased greatly during the price drop but normalized as the price found support.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.4                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP was, just like the aforementioned Ethereum, matching Bitcoin in price direction, but not in intensity. The third-largest cryptocurrency by market cap entered a short bull period, which brought it to $0.19 levels before recovering to a price closer to $0.195.

XRP’s volume was normal throughout the price drop, while its RSI level bounced from the oversold territory to (at the time of writing) 37.7.

Key levels to the upside                    Key levels to the downside

1: $0.2                                               1: $0.19

2: $0.205                                           2: $0.1785

3: $0.214                                            

The crypto market has spent the day following Bitcoin’s spike down, most likely due to the fear of Satoshi Nakamoto moving their funds (which is most likely not true, as the more likely scenario would be that one of the miners was moving the BTC).  Bitcoin is currently trading for $9,091, which represents a decrease of 4.2% on the day. Meanwhile, Ethereum lost 4.38% on the day, while XRP lost 0.55%.

OmiseGO took the position of today’s biggest daily gainer, with gains of 65.98%. THETA lost 16.34% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance stayed at the same place since we last reported, with its value currently at 67.05%. This value represents a 0.03% difference to the downside.

The cryptocurrency market capitalization decreased when compared to yesterday’s value, with its current value being $251.67 billion. This value represents a decrease of $10.92 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Kleiman vs. Wright getting heated 

Ira Kleiman’s legal team announced that Dr. Craig Wright already has keys to the encrypted file that is believed to contain more than 820,000 Bitcoin. The Kleiman estate is currently suing Wright over the Bitcoin he allegedly mined by partnering with the late Dave Kleiman. On the other side, Wright claims there was no partnership.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization had quite a price drop in the past 24 hours. Most likely sparked up by news of someone moving Bitcoin mined in the first month of Bitcoin’s existence, as well as new information on the Craig Wright case, investors have started to get cautions and exit their positions, bringing BTC to under $9,000 at one point. After falling to $8,800, Bitcoin bulls woke up and lifted the price above $9,000, where it is standing at the moment. Bitcoin is currently trying to pass the $9,210 resistance level.

Key levels to the upside                    Key levels to the downside

1: $9,250                                           1: $9,120

2: $9,580                                           2: $8,980

3: $9,735                                            3: $8,820

Ethereum

Ethereum followed Bitcoin and dropped in value quite a bit over the past 24 hours. The second-largest cryptocurrency by market cap even fell to $190 at one point, before being picked up by the bulls. It is currently trying to establish its position above the $198 support level, which it seems it will succeed in doing.

Ethereum looks like it might make a head and shoulders pattern, which will be a safe trade (if it plays out correctly). However, it is too early to speculate on such things.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.4                                           2: $193.6

3: $240                                               3: $185

Ripple

Even though XRP was the most stable cryptocurrency out of the top3 in the past couple of days (including today), it is far from being completely stable. The third-largest cryptocurrency by market cap dropped below its $0.2 support level (now turned resistance). XRP has since consolidated and is trying to pass $0.2 to the upside.

Key levels to the upside                    Key levels to the downside

1: $0.2                                               1: $0.19

2: $0.205                                           2: $0.1785

3: $0.214                                            

The crypto market has spent the day slightly retracing, with most of its cryptocurrencies being in the red.  Bitcoin is currently trading for $9,505, which represents a decrease of 2.41% on the day. Meanwhile, Ethereum lost 1.59% on the day, while XRP lost 1.57%.

THETA took the position of today’s biggest daily gainer, with gains of 29.39%. Steem lost 17.74% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance moved down slightly since we last reported, with its value currently at 67.08%. This value represents a 0.38% difference to the downside.

The cryptocurrency market capitalization decreased when compared to yesterday’s value, with its current value being $262.25 billion. This value represents a decrease of $4.01 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Crypto payments on Shopify 

Shopify platform sellers can now utilize cryptocurrencies in their online stores after a partnership with CoinPayments (a crypto payment processor) reached a deal with Shopify.

“Shopify is a natural fit for us,” said CoinPayments CEO Jason Butcher, and also added that “it just makes sense to create an integration that enables secure, easy, and cost-effective transactions.

Honorable mention

On May 20, Reports show that Satoshi Nakamoto may have shown up and reactivated himself. The news came out as someone tried to move 50 Bitcoin that were mined all the way back in Feb 2009.

What’s more interesting is that the Bitcoin that were moved were actually the ones that Craig Wright said he owns.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization spent the past 24 hours in a slight downturn. The drop below $9,735 as well as $9,580 was stopped by the ascending trend, which is being tested at the time of writing. In order not to become even more bearish, Bitcoin has to reach over the trend line and establish itself above some of the horizontal support levels, or to fall within the trend and continue moving like that.

Key levels to the upside                    Key levels to the downside

1: $9,580                                           1: $9,250

2: $9,735                                           2: $9,120

3: $9,870                                            3: $8,980

Ethereum

Ethereum has been quite inactive when compared to Bitcoin in the past 24 hours. The second-largest cryptocurrency by market cap dropped a few percent on the day but held up quite good within a range bound by $198 to the downside and $217.6 to the upside. More so, the price has held above $200, which is a great show of strength.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.4                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP has spent yet another day pretty much doing the same thing. The third-largest cryptocurrency by market cap almost didn’t move throughout the day, only dropping slightly to the $0.2 support level.

XRP’s volume is still incredibly low, while its RSI is at the value of 45.

Key levels to the upside                    Key levels to the downside

1: $0.214                                           1: $0.205

2: $0.227                                           2: $0.2

3: $0.235                                            3: $0.19

The crypto market has spent the day moving towards the upside. While most of the market is in the green, the majority of cryptocurrencies didn’t move much.  Bitcoin is currently trading for $9,757, which represents an increase of 1.23% on the day. Meanwhile, Ethereum gained 0.87% on the day, while XRP gained 1.12%.

Steem took the position of today’s most prominent daily gainer, with gains of 23.81%. Electroneum lost 12.87% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance moved up slightly since we last reported, with its value currently at 67.46%. This value represents a 0.03% difference to the upside.

The cryptocurrency market capitalization increased slightly when compared to yesterday’s value, with its current value being $264.26 billion. This value represents an increase of $0.02 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Bitcoin options market speaks about the BTC price 

The Bitcoin options market spoke about Bitcoin’s price in the future (or at least their prediction). The options market, which is mostly dominated by Deribit and CME, predicted a 9% chance of Bitcoin reaching past its all-time high of $20,000 by the end of the year.

As Bitcoin has a tendency to prolong its rally six to eight months after its halving event, Bitcoin options traders exercise cautious trading in the medium-term.

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Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the past 24 hours being indecisive in terms of where its future path will be. It reached past the $9,735 resistance line, turning it to support once again. However, the main trend isn’t decided quite yet, as these small support and resistance levels aren’t strong enough to determine a trend.

Bitcoin’s volume dropped over the past 24 hours, while its RSI level stayed pretty stable around the 55 mark.

Key levels to the upside                    Key levels to the downside

1: $9,870                                           1: $9,735

2: $10,010                                         2: $9,580

3: $10,505                                          3: $9,250

Ethereum

Ethereum didn’t make any major moves in the past 24 hours. The second-largest cryptocurrency by market cap is taking its time to consolidate and prepare for the next move (to either side).

Ethereum has recently gained most of its value based on fundamentals. ETH traders should take that into consideration before doing any trading just based on technicals.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.4                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP is proving that it has become a relatively stable cryptocurrency day in and day out. The third-largest cryptocurrency by market cap almost didn’t move at all, hovering around the $0.205 level. While it has spent most of the day below it, $0.205 level is now acting as slight support.

XRP’s volume decreased slightly in the past 24 hours, while its RSI level currently stands at the value of 56.

Key levels to the upside                    Key levels to the downside

1: $0.214                                           1: $0.205

2: $0.227                                           2: $0.2

3: $0.235                                            3: $0.19

The crypto market has spent the day either stagnating or slowly moving to the downside. Bitcoin is currently trading for $9,643, which represents a decrease of 2.5% on the day. Meanwhile, Ethereum lost 1.02% on the day, while XRP lost 0.6%.

SOLVE took the position of today’s most prominent daily gainer, with gains of 20.58%. Crypterium lost 12.01% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance moved down slightly since we last reported, with its value currently at 67.43%. This value represents a 0.05% difference to the downside.

The cryptocurrency market capitalization decreased slightly when compared to yesterday’s value, with its current value being $264.31 billion. This value represents a decrease of $0.9 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Bitcoin produced less than 100 blocks in a 24h period

Data presented by Bitcoin analysts known as digitalik.net shows that Bitcoin’s network generated only 95 blocks on Sunday. Bitcoin’s network generated less than 100 blocks in a 24 hour period only eight days in the last ten years, mostly in 2017.

The block time is mostly attributed to the Bitcoin halving, as the event decreased the profit margins of many miners.

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Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had a bearish outlook throughout the past 24 hours. It fell below the $9,735 support level (which is now acting as resistance) and established its price there. The price started going up and tested the level, now as resistance, but failed to break it. The whole day was accompanied by low volume

When it comes to trading Bitcoin, breakout traders should either wait for a big bull run that will break $10,000 or some form of a heavy volume drop towards the downside. As we stated yesterday, traders that like trading ranging moves might use leverage to scalp a few dollars here and there on moves such as the one that happened today.

Key levels to the upside                    Key levels to the downside

1: $9,735                                           1: $9,580

2: $9,870                                           2: $9,250

3: $10,010                                          3: $9,120

Ethereum

Ethereum spent the day consolidating after the move towards the upside. After failing to reach past $217.6, Ethereum retraced slightly. Due to the extremely low volume, ETH currently has no potential to go up or down in any significant way.

Ethereum gained most of its value based on fundamentals. ETH traders should take that into consideration before trading just based on technicals.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.4                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP has been the most stable cryptocurrency out of the top3 in the past week. The third-largest cryptocurrency by market cap moved only slightly to the downside in the past 24 hours, breaking the $0.205 support level. The low volume currently makes XRP almost untradeable.

The volume increased slightly during yesterday’s spike but returned to its usual low levels today. Its RSI level currently stands at the value of 50.

Key levels to the upside                    Key levels to the downside

1: $0.214                                           1: $0.205

2: $0.227                                           2: $0.2

3: $0.235                                            3: $0.19

The crypto market has spent the weekend mostly trying to break its resistance levels, which it did to a certain extent. Still, Bitcoin is under $10,000, and the general trend direction is not completely bullish. Bitcoin is currently trading for $9,778, which represents an increase of 2.62% on the day. Meanwhile, Ethereum gained 5.91% on the day, while XRP gained 1.17%.

Numeraire took the position of today’s most prominent daily gainer, with gains of 11.28%. Electroneum lost 14.78% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance moved down slightly since we last reported, with its value currently at 67.48%. This value represents a 0.73% difference to the downside.

The cryptocurrency market capitalization increased slightly when compared to Friday’s value, with its current value being $265.23 billion. This value represents an increase of $6.13 billion when compared to the value it had on Friday.

What happened in the past 24 hours

Robert Kiyosaki bullish on Bitcoin

Robert Kiyosaki, a famous businessman and best selling author (most famous by his book “Rich Dad, Poor Dad”) has announced his bullish stance on Bitcoin and even made a prediction regarding its price.

Kiyosaki tweeted that BTC’s price is heading towards $75,000 in three years. He also mentioned that he holds gold and silver besides Bitcoin.

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Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the weekend mostly testing new resistance levels and then retracing slightly to the most recent supports. All in all, the weekend was net-positive for Bitcoin as its price increased slightly. The $9,735 resistance level was broken, and Bitcoin is consolidating above it.

When it comes to trading Bitcoin, breakout traders would either wait for a big bull run that will break $10,000 or a heavy volume drop towards the downside. On the other hand, traders that like ranging moves might use leverage to scalp a few dollars here and there, as Bitcoin is currently moving within a few narrow support-resistance levels.

Key levels to the upside                    Key levels to the downside

1: $9,870                                           1: $9,735

2: $10,010                                         2: $9,580

3: $10,500                                          3: $9,250

Ethereum

Unlike Bitcoin, Ethereum did not move slowly to the upside. The second-largest cryptocurrency by market cap rushed to the upside, reaching the $217.6 resistance level where it lost the momentum. However, the gains ETH made over the weekend were greater than Bitcoin. The sudden surge in price was mostly due to good news and ETH-based events during this weekend.

Without the additional boost in terms of fundamentals, or Bitcoin breaking $10,000, Ethereum will have a hard time going above $217.6 level.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.4                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP spent the weekend moving sideways for the most part, with the exception of one slight move to the upside, which brought it above the $0.205 resistance. The third-largest cryptocurrency by market cap has finally broken the pattern of going above and below the $0.2 support, but only up to the $0.205 level.

The volume increased slightly during the spike, while the RSI level currently stands at the value of 60.

Key levels to the upside                    Key levels to the downside

1: $0.214                                           1: $0.205

2: $0.227                                           2: $0.2

3: $0.235                                            3: $0.19

The crypto market has spent the past day testing its support and resistance levels and was generally in a state of indecisiveness. Bitcoin is currently trading for $9,671, which represents an increase of 1.65% on the day. Meanwhile, Ethereum gained 0.57% on the day, while XRP lost 0.03%.

OmiseGO took the position of today’s most prominent daily gainer, with gains of 27.28%. Crypterium lost 15.56% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance moved up slightly once again since we last reported, with its value currently at 68.21%. This value represents a 0.45% difference to the upside.

The cryptocurrency market capitalization increased slightly when compared to yesterday’s value, with its current value being $259.1 billion. This value represents an increase of $2.42 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Visa files a Patent for Digital Currency

Visa has filed a patent application with the US Patent and Trademark Office to create digital currency on its own blockchain. While the patent was filed all the way back in Nov 2018, Visa decided to publish the application just yesterday (May 14).

The patent is for a digital currency and not a cryptocurrency, as it states that they want to create a digital currency that is recorded on a blockchain and centrally controlled.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization was quite indecisive in its price movements in the past day. After a couple of days of making solid gains, the bull presence subsided and Bitcoin got rejected from crossing above $10,000, which triggered a pullback. While the pullback was sharp and brought its price back to $9,200 in a matter of hours, it quickly recovered and is now above $9,500 and going up.

If Bitcoin manages to cross the $10,010 mark with sufficient volume, traders might want to jump the train on the trade and start looking for a good entry.

Key levels to the upside                    Key levels to the downside

1: $9,735                                          1: $9,580

2: $9,870                                          2: $9,250

3: $10,010                                         3: $9,120

Ethereum

Ethereum spent the day mirroring Bitcoin but in a much more toned fashion. The second-largest cryptocurrency by market cap started retracing as bull presence left the market but quickly stopped at the support level of  $198. It is currently on the upturn and solid above that support level.

However, Ethereum’s RSI is pretty high while its volume did not move from the low levels it was at, so any big move is out of the question until at least some parameter changes.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.4                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP did not have a good time in the past 24 hours, as its price movements were bound within a tight range, right between the resistance level of $0.205 and support level of $0.2. XRP desperately tried to move out of it, but with no success.

However, the $0.2, which was heavily tested, ended up holding the price from going down, which is great news. XRP is now having an uptick, which may start poking the top level.

Key levels to the upside                    Key levels to the downside

1: $0.205                                           1: $0.2

2: $0.214                                           2: $0.19

3: $0.227                                            3: $0.178

The cryptocurrency market has spent the past day reaching new fights, with almost every single cryptocurrency in the top100 ending up in the green. Bitcoin is currently trading for $9,467, which represents an increase of 6.24% on the day. Meanwhile, Ethereum gained 4.54% on the day, while XRP went up by 2.04%.

Crypterium took the position of today’s most prominent daily gainer, with gains of 27.28%. ABBC Coin lost 8.32% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance moved up slightly since we last reported, with its value currently at 67.76%. This value represents a 0.3% difference to the upside.

The cryptocurrency market capitalization increased by a good portion when compared to yesterday’s value, with its current value being $256.68 billion. This value represents an increase of $12.78 billion when compared to yesterday’s value.

What happened in the past 24 hours

German Neobank offers Bitcoin Accounts with Interest

German neobank Bitwala started offering its users interest rates of up to 4.3% when using its new Bitcoin Interest Account. The product is currently available to Bitwala’s 80,000 users. They can purchase, hold, and earn interest on Bitcoin in their bank accounts.

The Bitcoin Interest Account reached the market due to a new partnership between Bitwala and a crypto-lending platform Celsius Network.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has broken the range it was bound withing after some time struggling to do so, passing over $9,000 and reaching almost $9,500. Bitcoin was trading at the top line of its ascending trend for some time, constantly testing the resistance level. Today has been the day where the price broke out, went above $8,980, retested it, and then skyrocketed. That trading opportunity was exactly as described in our previous articles.

Bitcoin is currently near the oversold territory on the 4-hour chart.

Key levels to the upside                    Key levels to the downside

1: $9,580                                           1: $9,250

2: $9,735                                           2: $9,120

3: $9,870                                            3: $8,980

Ethereum

Ethereum, led by Bitcoin’s price surge, has broken out above the descending channel it was in for some time now. While the move was not nearly as strong as Bitcoin’s, it was just enough to push through the channel and stay above $198.

The $198 support level is being tested at the time of writing, and price dropping below it with increased volume might be a good trading opportunity.

Key levels to the upside                    Key levels to the downside

1: $198                                               1: $193.6

2: $217.6                                           2: $185

3: $225.4                                            3: $178.65

Ripple

XRP has followed the market in terms of direction, but not in terms of intensity. The third-largest cryptocurrency by market cap followed Bitcoin on its way up and increased in price as well. While it did manage to conquer $0.2, the move can (in no way, shape, or form) be called strong.

XRP is now trading within a very narrow channel, bound by $0.205 to the upside and $0.2 (which it is constantly testing) to the downside.

Key levels to the upside                    Key levels to the downside

1: $0.205                                           1: $0.2

2: $0.214                                           2: $0.19

3: $0.227                                            3: $0.178

The cryptocurrency market has spent the past day mostly trading sideways, with some cryptocurrencies testing their support and resistance levels. Bitcoin is currently trading for $8,885, which represents an increase of 1.63% on the day. Meanwhile, Ethereum gained 0.87% on the day, while XRP went up by 0.5%.

DigiByte took the position of today’s most prominent daily gainer, with gains of 27.28%. Status lost 8.32% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance moved up slightly since we last reported, with its value currently at 67.46%. This value represents a 0.29% difference to the upside.

The cryptocurrency market capitalization increased by a good portion when compared to yesterday’s value, with its current value being $243.85 billion. This value represents an increase of $5.1 billion when compared to yesterday’s value.

What happened in the past 24 hours

Lightning Network vs. WBTC on the Ethereum network

One thousand Wrapped Bitcoin were minted today on the Ethereum network. This transaction represents more US dollar value than the entire current Lightning Network. This transaction brings the total amount of Bitcoin locked in WBTC tokens to 2,300, which is quite a bit more than the 927 Bitcoin locked on the Lightning Network.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has seen an increase in bullish presence since yesterday. Bitcoin is trying to push through the ascending trend it was locked in for two days now. If the price breaks the trend and then succeeds in testing it positively, we can expect Bitcoin’s price to rise alongside with its volume.

While the best-case scenario would be an easy position to trade, the current state of Bitcoin does not show any strong possible positions to be opened at the moment.

Key levels to the upside                    Key levels to the downside

1: $8,980                                          1: $8,820

2: $9,120                                           2: $8,650

3: $9,250                                            3: $8,000

Ethereum

Ethereum has been moving sideways for a couple of days now. It has been stable above the $185 support level but locked inside the descending trend. If nothing changes and Ethereum continues its sideways price action, it will eventually (forcefully) bump into the descending channel top line.

Ethereum’s volume is very low at the moment, while its RSI level is hovering above the value of 40.

Key levels to the upside                    Key levels to the downside

1: $193.6                                            1: $185

2: $198                                              2: $178.65

3: $217.6                                            3: $167.8

Ripple

XRP has, just like Etheruem, been moving sideways for some time now. It is now, however, bound within any ascending or descending channels. Its sideways movement is accompanied by low volume and a stable RSI value. XRP’s next move will likely be caused by Bitcoin’s sharp price movement, as Bitcoin (at the moment) seems like it is much closer to making a move than XRP is.

Key levels to the upside                    Key levels to the downside

1: $0.2                                               1: $0.19

2: $0.205                                           2: $0.178

3: $0.214                                            3: $0.147

The cryptocurrency market has spent the past day preparing for the Bitcoin halving event. While there was some price uncertainty, it eventually turned out to be a pretty stable day. Bitcoin is currently trading for $8,680, which represents a decrease of 0.07% on the day. Meanwhile, Ethereum gained 0.07% on the day, while XRP went down by 0.61%.

ReddCoin took the position of today’s most prominent daily gainer, with gains of 31.95%. 0x lost 11.75% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance stayed at the same place since we last reported, with its value currently at 67.17%. This value represents a 0.08% difference to the downside.

The cryptocurrency market capitalization stayed at the same place when compared to yesterday’s value, with its current value being $238.75 billion. This value represents a decrease of $0.99 billion when compared to yesterday’s value.

What happened in the past 24 hours

Bitcoin Halving

With Bitcoin finishing its halving event, investors are expecting to see a market response. However, the past 24 hours have been pretty uneventful when it comes to price movement. Analysts are mostly bullish in the long run but concerned in the short-term as Bitcoin is still in a downtrend that started near the end of 2017.

On the other hand, if we take a look at the fundamentals, Bitcoin has improved greatly since the last halving. The number of small Bitcoin addresses with less than 0.01 BTC after the third halving increased by 235% when compared to the second halving that occurred in July 2016.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has undergone its third halving event, cutting miner’s incentive in half. The price did not immediately react and the day went pretty uneventful price-wise. Bitcoin remains bound between the $8,650 support and $8,820 resistance levels as well as within a small ascending trend.

Traders may expect a breakout to either side to be a great opportunity. However, Bitcoin, in its current position, is almost impossible to trend due to how narrow the range is.

Key levels to the upside                    Key levels to the downside

1: $8,820                                           1: $8,650

2: $8,980                                           2: $8,000

3: $9,120                                            3: $7,750

Ethereum

Ethereum seemingly stopped its downtrend and started moving sideways. Its price is currently held up by the $185 support level, which is of great importance for quite some time now. However, we still have to consider Ethereum being short-term bearish as it is still stuck within a descending trend. Only after it goes above the descending channel, it may be considered neutral or bullish.

Key levels to the upside                    Key levels to the downside

1: $193.6                                            1: $185

2: $198                                              2: $178.65

3: $217.6                                            3: $167.8

Ripple

XRP followed the market and spent an uneventful day as well, as all the eyes were looking at Bitcoin. The third-largest cryptocurrency by market cap started moving sideways right above the $0.19 level. However, the fact that it started making lower lows with each move makes it a bit scary for the XRP bulls. With that being said, XRP is quite stable at this price, as $0.19 is considered a strong support level.

XRP’s volume is on the lower side of the spectrum, while its RSI is at the value of 36.

Key levels to the upside                    Key levels to the downside

1: $0.2                                               1: $0.19

2: $0.205                                           2: $0.178

3: $0.214                                            3: $0.147

The cryptocurrency market has spent the weekend closely watching the timer to Bitcoin’s halving. Most cryptos had an over 10% price decrease on Sunday. Bitcoin is currently trading for $8,698, which represents an increase of 0.85% on the day. Meanwhile, Ethereum gained 0.25% on the day, while XRP went up by 0.13%.

Crypterium took the position of today’s most prominent daily gainer, with gains of 31.95%. Hyperion lost 22.39% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance decreased over the weekend, with its value currently at 67.25%. This value represents a 0.68% difference to the downside.

The cryptocurrency market capitalization decreased when compared to Friday’s value, with its current value being $239.74 billion. This value represents a decrease of $25.81 billion when compared to the value it had on Friday.

What happened in the past 24 hours

With Bitcoin halving being just hours away, everyone is looking at the biggest and most well-known cryptocurrency. However, just like before the previous halving in 2016, Bitcoin’s price dropped right before the event.

People are not scared though, as the fear and greed index shows that Bitcoin investors are in the greed phase, which shows us that people are quite interested in grabbing their Bitcoin before it becomes too late.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has, after failing to break the $10,000 resistance, started testing support levels in order to find one it can consolidate at. However, one support level by another fell and Bitcoin quickly reached double-digit losses, standing at under $9,000. It is currently bound by its immediate resistance at $8,880 and support at $8,650. It is important to note that Bitcoin fell back into a long-term upwards facing trend, which its price reacted to.

Key levels to the upside                    Key levels to the downside

1: $8,820                                           1: $8,650

2: $8,980                                           2: $8,000

3: $9,120                                            3: $7,750

Ethereum

Ethereum also lost quite a bit of its value over the weekend. The second-largest cryptocurrency by market cap failed to break $217.6 which triggered a downturn that brought its price to $178.65 levels. However, the price quickly recovered and Ethereum is back above $185. Ethereum is, unlike  Bitcoin, in a descending trend which its price completely respected and acknowledged.

Key levels to the upside                    Key levels to the downside

1: $193.6                                            1: $185

2: $198                                              2: $178.65

3: $217.6                                            3: $167.8

Ripple

XRP pretty much followed the market when it comes to price movement over the weekend. The third-largest cryptocurrency by market cap also had an over 10% loss, which resulted in XRP falling below the $0.214 support (now turned resistance).

XRP managed to stabilize above $0.19, where it is trading at the moment.

Key levels to the upside                    Key levels to the downside

1: $0.2                                               1: $0.19

2: $0.205                                           2: $0.178

3: $0.214                                            3: $0.147

The cryptocurrency market has spent the day mainly watching Bitcoin’s price rise prior to the halving. With all eyes on Bitcoin as its halving event nears, other cryptos moved far less than the biggest cryptocurrency. Bitcoin is currently trading for $9,796, which represents an increase of 5.64% on the day. Meanwhile, Ethereum gained 1.85% on the day, while XRP went down by 0.13%.

Crypterium took the position of today’s most prominent daily gainer, with gains of 65.26%. Numeraire lost 8.48% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance increased even more in the past 24 hours as it was one of the few cryptos that managed to pass its resistance levels, with its value currently at 67.93%. This value represents a 0.74% difference to the upside.

The cryptocurrency market capitalization increased when compared to yesterday’s value, with its current value being $265.97 billion. This value represents an increase of $8.08 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Although the worldwide coronavirus pandemic has created global economic difficulties, we see cryptocurrencies growing in price, volume as well as the number of transactions. According to Brad Robertson, the head of a blockchain incubator Polyent labs, digital currencies seem appealing in the short term due to the price increase they have undergone in the past few weeks.

With the increased interest in crypto, constant printing of fiat currencies (especially during the coronavirus outbreak), and Bitcoin halving, we may see a bull run sooner than we think.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap spent the day trying to reach above $10,000. After it spent some time consolidating at the $9,200 area, Bitcoin spiked and tried to tackle the $10,000 level. However, the price could not get past it even with an extreme increase in volume, so Bitcoin fell down to $9,800 levels. Even so, the daily gains are more than substantial.

Bitcoin’s volume almost tripled on the day, while its RSI level reached overbought territory during the spike, but left it soon after.

Key levels to the upside                    Key levels to the downside

1: $9,880                                           1: $9,740

2: $10,015                                         2: $9,580

3: $10,350                                          3: $9,250

Ethereum

Ethereum spent the day after leaving the descending trend mostly in trying to find a place to consolidate at. The second-largest cryptocurrency by market cap rejected the $217.6 level and fell down. However, the downtrend was quickly stopped by the top descending trend line, therefore confirming that Ethereum no longer belongs to that trend.

Ethereum’s volume doubled during the move, which brought it out of the trend but normalized after. Its RSI level currently hovers just above the value of 51.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.5                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP continued creating lower highs even today. It is the only cryptocurrency out of the top3 to not be in the green on the day. While its price is heavily guarded against falling down by the $0.214 support level, if the cycle of lower lows continues, XRP will have no other option but to give up on this level.

XRP’s volume increased slightly during one period of the day but quickly normalized. Its RSI level is currently just above the value of 47.

Key levels to the upside                    Key levels to the downside

1: $0.227                                           1: $0.214

2: $0.235                                           2: $0.205

3: $0.285                                            3: $0.2

The cryptocurrency market has spent the day trying to break the levels it was bound by. Bitcoin is currently trading for $9,201, which represents an increase of 2.52% on the day. Meanwhile, Ethereum lost 1.15% on the day, while XRP went down by 1.33%.

ReddCoin took the position of today’s most prominent daily gainer, with gains of 48.23%. Zilliqa lost 9.94% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance increased in the past 24 hours as it was one of the few cryptos that managed to pass its resistance levels, with its value currently at 67.19%. This value represents a 0.65% difference to the upside.

The cryptocurrency market capitalization increased when compared to yesterday’s value, with its current value being $257.89 billion. This value represents an increase of $9 billion when compared to the value it had yesterday.

Honorable mention

Libra reinforcing its team

Facebook’s digital currency made an announcement that Stuart Levey would be joining the project “later this summer.” His job will be overseeing Libra’s “combining technology innovation with robust compliance as well as regulatory framework.”

Levey has previously served the US government as the Under Secretary of the Treasury for Terrorism and Financial Intelligence.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap spent the day trying to break out of the range it was bound by. Strong bullish presence managed to push Bitcoin’s price up and away from the triangle formation it was in. While it is good news that Bitcoin broke to the upside, the fact that its price did not reach past the previous high of $9,500 is not so encouraging.

With its RSI close to the overbought territory, we can expect Bitcoin to retrace or trade sideways for some time before making another move.

Key levels to the upside                    Key levels to the downside

1: $9,120                                           1: $8,980

2: $9,250                                           2: $8,820

3: $9,580                                            3: $8,650

Ethereum

Ethereum tried to mirror Bitcoin’s movements and reach above its previous highs but failed to do so. The second-largest cryptocurrency by market cap bounced off of the descending trend it is currently in and started to drop in price. A major drop was, however, prevented by the $198 support level.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.5                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP continued creating lower highs while maintaining lows at a similar price. Today’s move stopped at $0.222 and then reverted and started moving downwards. XRP’s price fell under the $0.214 support level, turning it into resistance. However, the fight for $0.214 is still not over, as XRP might recover.

The $0.214 level will be moved to the “upside” key levels if XRP confirms its price below it.

Key levels to the upside                    Key levels to the downside

1: $0.227                                           1: $0.214

2: $0.235                                           2: $0.205

3: $0.285                                            3: $0.2

The cryptocurrency market has spent the day consolidating and testing its support and (in a rare case) resistance levels. Bitcoin is currently trading for $8,954, which represents n increase of 1.12% on the day. Meanwhile, Ethereum lost 0.86% on the day, while XRP went down by 0.57%.

DigiByte took the position of today’s most prominent daily gainer, with gains of 23.49%. Hyperion lost 31.82% on the day, making it the most prominent daily loser.

Bitcoin’s dominance stayed at the same place in the past 24 hours, with its value currently at 66.54%. This value represents a 0.09% difference to the upside.

The cryptocurrency market capitalization stayed at the same place when compared to yesterday’s value, with its current value being $248.89 billion. This value represents an increase of $0.24 billion when compared to the value it had yesterday.

Honorable mention

Digital Yuan replacing cash

Li Lihui, former Bank of China President, announced that the launch of the digital yuan is certain and that it could replace cash, but only if four circumstances are met. These features of digital yuan would be:

• greater efficiency
• lower transaction costs
• enough economic scale alongside commercial value
• peoples’ acceptance

The central bank of China is currently testing digital yuan. The tests are currently showing great interest approval of the current users, as well as a surge of new users.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap spent another day trying to find its place to consolidate at or to escape the narrow ranges it has been in for the past couple of days. Bitcoin tested both the $8,820 support and $9,120 resistance, as well as the middle level of $8,980. While the price is currently slightly below the $8,980 level, it is unknown where Bitcoin will go in the short term, and traders should wait for a move towards either side with large enough volume.

Key levels to the upside                    Key levels to the downside

1: $8,980                                           1: $8,820

2: $9,120                                           2: $8,650

3: $9,250                                            3: $8,000

Ethereum

Ethereum lost some of the gains it made as the price had a mini-meltdown that brought it from $212 to $200. Ethereum is trading in a wide range, bound by the $198 support level and the $217.6 resistance level. One more level between these two might emerge in the very near future. Traders should proceed with caution around $210-$215 levels but can trade within this range.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.5                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP spent its day testing its $0.214 support level. The price fell under the level a couple of times but managed to spring back up extremely fast. While the support seems strong enough, the lack of volatility and volume indicates preparation for the next big move. Whether the move will be caused by Bitcoin’s rise/fall or if it will be caused by XRP itself is unknown. However, traders should have an easy time spotting the difference in volume and trading alongside the move that is to come.

Key levels to the upside                    Key levels to the downside

1: $0.227                                           1: $$0.214

2: $0.235                                           2: $0.205

3: $0.285                                           3: $0.2

The cryptocurrency market has spent the day retesting support levels only to bounce off of them later on. Bitcoin is currently trading for $9,084, which represents an increase of 4.76% on the day. Meanwhile, Ethereum gained 5.45% on the day, while XRP went up by 4.55%.

Hyperion took the position of today’s most prominent daily gainer, with gains of 79.20%. Maker lost 6.49% on the day, making it the most prominent daily loser.

Bitcoin’s dominance increased slightly in the past 24 hours, with its value currently at 66.45%. This value represents a 0.13% difference to the upside.

The cryptocurrency market capitalization decreased when compared to yesterday’s value, with its current value being $248.65 billion. This value represents a decrease of $4.68 billion when compared to the value it had yesterday.

Honorable mention

Craig Wright Satoshi court case

Lawyers representing both sides told the public that the trial would start on July 6. This case is extremely important for the cryptocurrency community as it will effectively decide if Craig Wright has access to the 1.1 billion BTC that were initially mined.

There should be no more postponing to the trial as the lawyers confirmed that they are not planning to delay the trial.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap successfully held up when its $8,650 support level was tested, only to bounce right after the support level “test” was concluded. With bears reaching exhaustion, BTC quickly bounced from $8,650 all the way up above $9,120. It was stopped at the resistance level, and it is not trying to find its price level above $8,980 and below $9,120.

The volume was steady throughout the day, while the RSI level increased to 61.

Key levels to the upside                    Key levels to the downside

1: $8,980                                           1: $8,820

2: $9,120                                           2: $8,650

3: $9,250                                            3: $8,000

Ethereum

Ethereum had a good day as well, with its price steadily growing after bouncing off the $198 support level. After the level held up successfully, the second-largest cryptocurrency by market cap started increasing in price and reached $212.5, where it stopped (for now). Since Ethereum is in the middle of the range, there are no tells where the price can go from here. However, traders should look for bounces off of the resistance or support levels after they have been reached.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.5                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP fell under the $0.214 level, all the way to $0.21, just to recover and push above $0.214 again. Ever since, the price has been steadily rising. The third-largest cryptocurrency by market cap established its price above $0.214 but seems to have slightly lost momentum towards the upside.

XRP’s volume has decreased in the most recent trading hours, while its RSI is at the value of 53.5

Key levels to the upside                    Key levels to the downside

1: $0.227                                           1: $$0.214

2: $0.235                                           2: $0.205

3: $0.285                                           3: $0.2

The cryptocurrency market has spent the weekend trying to find a level to consolidate at and testing narrow ranges. Bitcoin is currently trading for $8,767, which represents a decrease of 3/69% on the day. Meanwhile, Ethereum lost 5.7% on the day, while XRP lost 4.76%. However, when compared to the prices on Friday, the market hasn’t moved that much, if at all.

Hive took the position of today’s most prominent daily gainer, with gains of 22.27%. Unibright lost 17.28% on the day, making it the most prominent daily loser.

Bitcoin’s dominance increased over the weekend, with its value currently at 66.32%. This value represents a 0.66% difference to the upside.

The cryptocurrency market capitalization decreased when compared to Friday’s value, with its current value being $243.97. This value represents a decrease of $3.58 billion when compared to the value it had on Friday.

Honorable mention

Bitcoin hash rate

Bitcoin’s third halving event is roughly two weeks away, and the BTC mining hash rate is pushing into record highs. Bitcoin hashing power plummeted by 40% just two weeks after setting its previous all-time high on March 8.

However, the hash rate increased by 90% in the following six weeks, reaching a new all-time high at 142 exahashes per second.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap spent the weekend trying to find a good place to consolidate at. The narrow resistance ranges of $8,650, $8,820, $8,980 and $9,120 were tested over the weekend. Bitcoin’s price spent the majority of the weekend below $9,000, and most recently retested the $8,650 resistance. That resistance has proven its strength yet again and BTC bounced back up.

The next few days will lead up to Bitcoin either breaking down below $8,650, which would trigger a downturn, or above $9,120, which would trigger an uptrend.

Key levels to the upside                    Key levels to the downside

1: $8,820                                           1: $8,650

2: $8,980                                           2: $8,000

3: $9,120                                            3: $7,750

Ethereum

Ethereum has spent the weekend bouncing between the $200 and $217.6. The second-largest cryptocurrency by market cap is currently on the path down as the $217.6 resistance level held up twice already. With the volume normalizing and the RSI falling back in the lower half of the range, we can expect a few more days of consolidation from Ethereum, unless a run-up or down gets triggered by an external factor (Bitcoin’s movement or fundamentals).

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.5                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP is also trading in a tight range, bound by $0.214 to the downside and $0.227 to the upside. However, the most recent retest of the support level has brought the price all the way down to $0.208 before recovering above $0.214. This level seems to be barely holding for now, and it is likely that it will not hold up if being tested for much longer. If $0.214 fails, we can expect XRP to fall to the $0.205 or $0.2 levels.

Key levels to the upside                    Key levels to the downside

1: $0.227                                           1: $$0.214

2: $0.235                                           2: $0.205

3: $0.285                                           3: $0.2

The cryptocurrency market has spent the past 24 hours trying to find a level to consolidate at after dropping in price due to the lack of bull pressure. Bitcoin is currently trading for $8,770, which represents a decrease of 6.11% on the day. Meanwhile, Ethereum lost 4.74% on the day, while XRP lost 5.89%.

Hyperion took the position of today’s most prominent daily gainer, with gains of 14.4%. Hive lost 13.59% on the day, making it the most prominent daily loser.

Bitcoin’s dominance increased another half a percent from yesterday’s dominance levels. Its value is now 65.69%, which represents a 0.5% difference to the upside.

The cryptocurrency market capitalization decreased when compared to yesterday, with its current value being $247.55. This value represents a decrease of $3.25 billion when compared to the value it had yesterday.

Honorable mention

XRP supported by the first Crypto bank

The first FINMA licensed cryptocurrency bank, Sygnum Bank, has made an announcement on April 30 that Ripple’s XRP token is now available through its platform. Users can deposit, exchange, as well as credit services using the third-largest cryptocurrency.

Sygnum Bank customers can use fiat deposits such as the Swiss franc, the US Dollar, the Euro, the Singapore dollar, to buy, hold as well as trade XRP tokens on the Sygnum platform.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap spent the day retracing and looking for a place to consolidate at. After a bull run which brought its price above $9,000, the price had to retrace in order for the price increase to be considered “healthy. BTC initially dropped all the way to $8,400, but recovered and started its consolidation phase within a range bound by $8,650 to the downside and $8,820 to the upside. This is the time for traders that like range-trading to play around the support and resistance levels that bitcoin is bound by.

BTC’s volume decreased drastically in the past few candlesticks as the sharp moves subsided. Its RSI has also left the overbought area.

Key levels to the upside                    Key levels to the downside

1: $8,820                                           1: $8,650

2: $8,980                                           2: $8,000

3: $9,120                                            3: $7,750

Ethereum

Ethereum’s chart looks awfully similar to Bitcoin’s chart for the past few days. They acted almost exactly the same when it came to rising in price, retracing, and then consolidating. The second-largest cryptocurrency by market cap fell from its $225.5 highs to around $200 before going back up and consolidating at the ~$215 level.

Ethereum’s volume started normalizing after the sharp moves, while its RSI left the overbought territory with the current value of 59.

Key levels to the upside                    Key levels to the downside

1: $217.6                                            1: $198

2: $225.5                                           2: $193.6

3: $240                                               3: $185

Ripple

XRP lived through the same fate through the past 24 hours, where it reached new highs, retraced hoping to find stable support, and then started its consolidation phase. The third-largest cryptocurrency by market cap dropped from its $0.235 highs all the way down to $0.208 before going above the $0.214 level yet again.

XRP’s volume normalized after the explosive moves, while its RSI dropped to the value of 58, therefore leaving the overbought zone.

Key levels to the upside                    Key levels to the downside

1: $0.227                                           1: $$0.214

2: $0.235                                           2: $0.205

3: $0.285                                           3: $0.2

The cryptocurrency market had an incredible day as most cryptocurrencies recorded daily gains of over 5%, some even reaching the double-digit gain levels. This move was led by Bitcoin reaching and surpassing $9,000. Bitcoin is currently trading for $9,201, which represents an increase of 17.21% on the day. Meanwhile, Ethereum gained 11.9% on the day, while XRP gained 7.9%.

Streamr DATAcoin took the position of today’s most prominent daily gainer, with gains of 60.65%. Aave lost 2.18% on the day, making it the most prominent daily loser.

Bitcoin’s dominance soared compared to yesterday’s dominance levels. Its value is now 65.19%, which represents a 1.29% difference to the upside.

The cryptocurrency market capitalization increased significantly when compared to yesterday, with its current value being $250.8. This value represents an increase of $25.92 billion when compared to the value it had yesterday.

Honorable mention

Coinbase and Binance amid Crypto Surge

Bitcoin’s price jump April 29 brought a few interesting things about certain exchanges to light. Binance, the world’s largest crypto exchange at the moment, has hit $11 billion in trading volume just for the past 24 hours, therefore reaching an all-time high. The last time the exchange even came near $11 billion was back in early 2018.

Unlike Binance’s thriving volume, Coinbase has experienced several major outages that stopped trading. Their status page, website, mobile app, as well as API website, experienced the outages.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap explosively bounced to the upside, breaking the ascending trend. The price quickly rose from $7,750 levels all the way up to $8,980, where it was stopped. However, the newest push by the bulls brought the price above the $8,980 resistance level as well as the $9,120 level. The move was stopped by the $9,250 resistance level.

BTC’s volume increased greatly, while its RSI level stepped deep into the overbought territory on all time frames. Its current value on the 4-hour time frame is 90.

Key levels to the upside                    Key levels to the downside

1: $9,250                                           1: $9,120

2: $9,735                                           2: $8,980

3: $9,870                                            3: $8,820

Ethereum

Ethereum followed Bitcoin’s bullish pattern and gained quite of bit of value in the past 24 hours. The second-largest cryptocurrency by market cap passed the $198 level and soared towards the $217 level, where it got stopped by a large number of sellers. However, the most recent bullish move brought the price above $217. The move reached exhaustion at the $225.5 resistance level, where the price started descending.

Ethereum’s volume almost doubled today, while its RSI level reached 82.5 on the 4-hour chart.

Key levels to the upside                    Key levels to the downside

1: $225.5                                            1: $217.6

2: $240                                              2: $198

                                                           3: $193.6

Ripple

XRP also broke out of its usual pattern and soared, reaching the price level of $0.235. The third-largest cryptocurrency broke the $0.227 after some consolidation and testing of the resistance level. The price is now trying to find a place to consolidate at as well as to test the $0.227 support level.

XRP’s volume skyrocketed, while its RSI level reached the value of 85. The key level of $0.227 will remain on the “upside” side until XRP resolves its price uncertainty.

Key levels to the upside                    Key levels to the downside

1: $0.235                                           1: $0.227

2: $0.285                                           2: $0.205

3: $0.296                                            3: $0.2