Tag: Ethereum

The cryptocurrency market spent had quite a bullish weekend. Out of the major cryptocurrencies, Ethereum and Bitcoin broke the strongest barriers. Bitcoin is currently trading for $10,050, which represents an increase of 3.95% on the day. Meanwhile, Ethereum gained 6.42% on the day, while XRP gained 1.04%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Elrond gained 22.75% on the day, making it the most prominent daily gainer. Status (10.69%) and Terra (9.44%) also did great. On the other hand, Synthetix Network has lost 10.39%, making it the most prominent daily loser. It is followed by Band Protocol’s loss of 6.95% and Aave’s loss of 6.76%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 61.51%. This value represents a 0.78% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization skyrocketed and broke the $300 billion mark. Its current value is $300.47 billion, which represents an increase of $13.24 billion when compared to the value it had on Friday.

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What happened in the past 24 hours?

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• Clear Governance Key for Enterprise Blockchain to Move Forward (Cointelegraph)
• Bitcoin Price Rally to $10K Has Not Shaken BTC Holders Yet — Data Shows (Cointelegraph)
• Gaming Industry Use of Blockchain May Lead to Mass Adoption (Cointelegraph)
• Money Reimagined: China’s ‘Cold War’ Blockchain Strategy (Coindesk)
• Banks Won’t Rush to Hold Crypto – But OCC’s Regulatory Approval Makes It Harder to Ignore (Coindesk)
• A new Ethereum DeFi token is literally up 100,000% in a week: VC (Cryptoslate)
• DeFi Testing Ethereum’s Transaction Limits, These Solutions Offer Hope for Scaling (Cryptobriefing)
• Visa, Mastercard Won’t Issue Their Own Cryptocurrencies (Cryptobriefing)
• Why Ethereum developers are buzzing about The Graph — even though it’s still centralized (The Block)
• Coinbase’s latest institutional review reveals it has 35 million customers (The Block)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization had an amazing weekend, which ended with it breaking the $10,000 mark. Bitcoin experienced a steady increase in price for six days now, slowly breaking each obstacle in its path. The final move, which broke $10,000, was a bit hectic as the wall of sellers kept the price down for quite a bit. Bitcoin is now held from going up by the ascending resistance level. However, the “battle” for $10,000 is not over yet, as Bitcoin did not make a strong confirmation move.

BTC traders should look for a trade opportunity after BTC decides whether it will move above or below $10,000.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA and its 21-period EMA
• Price is above its top B.B.
• RSI is in the overbought territory (76.57)
• Volume Increased

Key levels to the upside          Key levels to the downside

1: $10,015                               1: $9,870

2: $10,505                               2: $9,735

3: $10,855                                3: $9,580

Ethereum

Ethereum, just like Bitcoin, made some amazing gains as well as broke major resistance levels over the course of the weekend. The second-largest cryptocurrency by market cap spent the past five days rising sharply towards the upside due to its booming fundamentals. The weekend ended with Ethereum moving past $300 and pushing to $325, with the move still continuing. With the RSI being heavily overbought and volume slowly declining, traders can expect the move to end soon.

Ethereum traders should look for a trade opportunity in Ethereum’s pullbacks from the big move towards the upside.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above the 50-period EMA and the 21-period EMA
• Price is above the top B.B.
• RSI severely overbought (82.86)
• Extremely high volume

Key levels to the upside          Key levels to the downside

1: $340                                    1: $302

2: $362                                    2: $289

                                                 3: $278

Ripple

The third-largest cryptocurrency by market cap had a good weekend, though not quite as good as Bitcoin and Ethereum. XRP established its position above $0.214, which is a great mid-term indicator. While the initial bullish move got stopped by the $0.227 and XRP started moving towards the downside, the current position XRP is in is quite good.

XRP traders can look for an opportunity within the range XRP is currently trading in.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• Price above 21-period and the 50-period EMA
• Price is below the top B.B.
• RSI is elevated (64.47)
• Average/slightly higher than average volume

Key levels to the upside          Key levels to the downside

1: $0.227                                  1: $0.214

2: $0.235                                  2: $0.205

3: $0.245                                 3: $0.2

 

The cryptocurrency market spent yet another day shooting for the upside as Bitcoin tries to push itself closer towards $10,000. Bitcoin is currently trading for $9,358, which represents an increase of 0.42% on the day. Meanwhile, Ethereum gained 2.68% on the day, while XRP gained 1.2%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Flexacoin gained 36.8% on the day, making it the most prominent daily gainer. DigiByte (12.57%) and Maker (8.03%) also did great. On the other hand, Ampleforth has lost 11.12%, making it the most prominent daily loser. It is followed by Aave’s loss of 8.86% and Reserve Rights’ loss of 7.63%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 62.29%. This value represents a 0.12% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased when compared to when we last reported, with the market’s current value being $287.23 billion. This value represents an increase of $3.17 billion when compared to the value it had yesterday.

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What happened in the past 24 hours?

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• U.S. Banks Can Now Offer Bitcoin Custody to Institutional Investors (Cryptobriefing)
• Binance lists Maker and Dai tokens amid DeFi boom (The Block)
• YouTube asks court to dismiss crypto giveaway scam lawsuit filed by Ripple (The Block)
• Break Out Incoming? XRP Ready to Break Key Resistance Barrier (Cryptobriefing)
• Apple co-founder Steve Wozniak sues YouTube over crypto giveaway scams that use his likeness (The Block)
• Staking Services a Serious Risk to Earning Passive Ethereum, Says Report (Cryptobriefing)
• Kraken Proposes a More Reliable Way to Measure Bitcoin’s Hashrate (Cryptobriefing)
• Ethereum 2.0 Testnet Going Live Early August, ETH Surges (Cryptobriefing)
• $2.14 billion: Investors have moved 230,000 Bitcoin out of exchanges in 2020 (Cryptoslate)
• 4 Experts Agree: Craig Wright’s Latest Cryptography Claims Are ‘Nonsense’ (Coindesk)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization had another great day after the Office of the Comptroller of the Currency made an announcement stating that US banks can now provide crypto custody services. Bitcoin’s price instantly skyrocketed and reached a high of $9,690, therefore passing the $9,580 resistance level. However, the fight to stay above $9,580 is still in play, and it is uncertain where Bitcoin will end up.

BTC traders should look for a trade opportunity after bitcoin establishes itself above or below $9,580.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA and its 21-period EMA
• Price is right below its top B.B.
• RSI is in the overbought territory (72.10)
• Volume Increased

Key levels to the upside          Key levels to the downside

1: $9,580                                 1: $9,251

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

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

Ethereum

Ethereum made a move towards the upside as it followed the influx of crypto bulls entering the market. The second-largest cryptocurrency by market cap established its position above $260 and hurled towards $278. However, the bullish move could not quite reach above it, and Ethereum stayed below. However, there is a high possibility that Ethereum will make another move as the range between $278 and the ascending line is closing in.

Ethereum traders should look for a trade opportunity in searching for pullbacks or after range confirmations.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above the 50-period EMA and the 21-period EMA
• Price is slightly below the top B.B.
• RSI severely overbought (82.89)
• Two-candle volume spike (the rest is average)

Key levels to the upside          Key levels to the downside

1: $278                                    1: $260

2: $289                                    2: $251.4

3: $302                                     3: $240

Ripple

The third-largest cryptocurrency by market cap went past the $0.205 resistance (now support) level as bulls managed to win the fight for the level. However, XRP did not make a great leap towards the next resistance level, as Bitcoin and Ethereum did. Due to a low bullish presence, XRP failed to go past $0.21 and started moving towards the downside.

XRP traders can look for an opportunity after XRP confirms its position above $0.205, or as it falls below $0.205.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price above 21-period and the 50-period EMA
• Price above the top B.B.
• RSI is elevated (64.43)
• Average/slightly higher than average Volume

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 cryptocurrency market spent yet another day shooting for the upside as Bitcoin tries to push itself closer towards $10,000. Bitcoin is currently trading for $9,358, which represents an increase of 1.72% on the day. Meanwhile, Ethereum gained a whopping 8.63% on the day, while XRP gained 2.88%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Terra gained 15.84% on the day, making it the most prominent daily gainer. DigiByte (8.29%) and Flexacoin (8.14%) also did great. On the other hand, Ampleforth has lost 30.52%, making it the most prominent daily loser. It is followed by iExec RLC’s loss of 12.26% and Velas’ loss of 7.15%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 62.41%. This value represents a 0.38% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased when compared to when we last reported, with the market’s current value being $284.16 billion. This value represents an increase of $6.63 billion when compared to the value it had on yesterday.

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What happened in the past 24 hours?

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• Banks in US Can Now Offer Crypto Custody Services, Regulator Says (Coindesk)
• China BSN releases “first” integration plan; Chainlink, Ethereum, NEO feature (Cryptoslate)
• Ethereum Options Hit All-Time High as Investors Prepare for Volatility (Cryptobriefing)
• Is DeFi a Massive Bubble? Investors Pay a Premium for Innovative Tokens (Cryptobriefing)
• The U.K.’s first licensed crypto hedge fund is shutting down (The Block)
• Japan’s Covid-19 Stimulus Payments Didn’t Flow Into Crypto (Cointelegraph)
• The Logbook: Blockchain is still innovation theater for some of the biggest public companies in the U.S. (The Block)
• An emerging consensus on the U.S. dollar: Figure out how to fix it now in case it breaks later (The Block)
• Tyler Winklevoss: It’s Good For BTC When The Fed Prints Money (Cointelegraph)
• U.S. House adds two blockchain amendments to its annual defense spending bill (The Block)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization had another green day where it continued strides towards $9,580, and ultimately $10,000. While the price did reach the $9,580 resistance level, it could not pass it for the time being. However, there is still a chance Bitcoin will pas (and confirm) the $9,580 level in this run, even though the overbought RSI says otherwise.

BTC traders should look for a trade opportunity after bitcoin loses bull presence or after it passes $9,580.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and its 21-period EMA
• Price at its top B.B.
• RSI is in the overbought territory (74.80)
• Increased Volume

Key levels to the upside          Key levels to the downside

1: $9,580                                 1: $9,251

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

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

Ethereum

Ethereum skyrocketed today, gaining over 8% in the past 24 hours. The reason for the sudden increase in Volume (and price) is contributed to the growing DeFi field. This price is the highest Ethereum has been since February. Ethereum’s price rise got stopped by the ascending resistance level, but only for a short amount of time.

Ethereum traders should look for an opportunity in searching for pullbacks.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above the 50-period EMA and the 21-period EMA
• Price above the top B.B.
• RSI severely overbought (85.65)
• One candle volume spike (rest is average)

Key levels to the upside          Key levels to the downside

1: $278                                    1: $260

2: $289                                    2: $251.4

3: $302                                     3: $240

Ripple

The third-largest cryptocurrency by market cap did well as well, with its price finally passing the $0.2 threshold after being stuck below it for almost a month. The move is currently stuck at the $0.205 resistance level, as XRP didn’t decide whether it will consolidate above or below it.

XRP traders can look for an opportunity to trade after XRP “decides” if it will end up above or below $0.205.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price above 21-period and the 50-period EMA
• Price above the top B.B.
• RSI is elevated (65.78)
• Average/slightly higher than average Volume

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 spent yet another day shooting for the upside as Bitcoin tries to push itself closer towards $10,000. Bitcoin is currently trading for $9,358, which represents an increase of 1.75% on the day. Meanwhile, Ethereum gained 3.06% on the day, while XRP gained 1.35%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Augur gained 22.19% on the day, making it the most prominent daily gainer. Elrond (20.66%) and Blockstack (16%) also did great. On the other hand, Synthetix Network has lost 10.2%, making it the most prominent daily loser. It is followed by Reserve Rights’ loss of 6.28% and Algorand’s loss of 4.53%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level stayed at the same level since we last reported, with its value currently at 62.79%. This value represents a 0.04% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $277.53 billion. This value represents an increase of $1.98 billion when compared to the value it had on yesterday.

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What happened in the past 24 hours?

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• Bitcoin Futures Pass $1B in Open Interest on BitMEX for First Time Since March Crash (Coindesk)
• Ethereum Now Settles More Value Than Bitcoin Thanks to Stablecoins (Cryptobriefing)
• eToro: Crypto “finally” has a use case, and it’s not DeFi or Bitcoin (Cryptoslate)
• Zcash Privacy Back in Question after User Traces Shielded Transaction (Cryptobriefing)
• China’s Blockchain Infrastructure to Extend Global Reach With Six Public Chains (Coindesk)
• Larry Cermak breaks down why the Twitter hackers are amateurish (The Block)
• US State of Texas Saddles Up to Become the Next Blockchain Capital (Cointelegraph)
• Robinhood’s crypto head is no longer with the brokerage firm (The Block)
• BlockFi eyeing $50 million Series C following period of strong growth in institutional lending (The Block)
• Federal Reserve Bank of Boston’s Bench says the U.S.’ better be ready’ for a future digital currency issuance (The Block)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization spent the day furthering yesterday’s strides towards $9,580, and ultimately $10,000. However, with volume fading as well as RSI stepping into the overbought territory, it is unlikely that Bitcoin will pass $9,580 without consolidation.

BTC traders should look for a trade opportunity after bitcoin loses bull presence or after it passes $9,580.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and its 21-period EMA
• Price at its top B.B.
• RSI is overextended (69.87)
• Increased volume (descending)

Key levels to the upside          Key levels to the downside

1: $9,580                                 1: $9,251

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

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

Ethereum

Ethereum continued on its path towards the upside in the past 24 hours. The second-largest cryptocurrency by market cap established its presence above $240 and pushed towards $251. However, the bullish presence is fading, and Ethereum is losing its momentum towards the upside.

Ethereum traders should look for an opportunity in searching for pullbacks.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above the 50-period EMA and the 21-period EMA
• Price at the top B.B.
• RSI elevated (68.02)
• One candle volume spike (rest is average)

Key levels to the upside          Key levels to the downside

1: $251.4                                 1: $240

2: $260                                    2: $228

3: $278                                     3: $225.4

Ripple

The third-largest cryptocurrency by market cap spent another day trading in a sideways manner. Its moves are bound by the $0.19 support level and (more often) $0.2 resistance level. XRP’s next move will most likely be determined by Bitcoin’s move (in any direction).

XRP traders can look for an opportunity to trade when the currency breaks $0.2 with increased Volume, or falls down below $0.19 with increased volume.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price above 21-period and the 50-period EMA
• Price slightly above middle B.B. (20-period SMA)
• RSI is neutral (53.58)
• Average/slightly low Volume

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

 

The cryptocurrency market spent the day trying to reach past its immediate resistance levels. Bitcoin is currently trading for $9,330, which represents an increase of 1.31% on the day. Meanwhile, Ethereum gained 1.26% on the day, while XRP gained 0.28%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Augur gained 11.37% on the day, making it the most prominent daily gainer. Waves (11.36%) and DxChain Token (6.32%) also did great. On the other hand, Band Protocol has lost 19.85%, making it the most prominent daily loser. It is followed by Kava’s loss of 17.94% and iExec RLC’s loss of 16.09%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 62.83%. This value represents a 0.33% difference to the upside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $275.58 billion. This value represents an increase of $2.89 billion when compared to the value it had on yesterday.

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What happened in the past 24 hours?

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• After Banning Crypto in 2018, Mastercard Is Now Bullish on Bitcoin (Cryptobriefing)
• What Ant Group’s massive IPO might mean for digital currency and blockchains (The Block)
• Grayscale Receives FINRA Approval for BCH and LTC to Trade Publicly (Cointelegraph)
• Paxos Beats Out Coinbase to Become PayPal’s Bitcoin Custodian (Cryptobriefing)
• Coinbase and other crypto exchanges are designing a P2P system for sharing user info under FATF rules (The Block)
• Tether CTO: ‘USDT Will Continue to Exist Alongside CBDCs’ (Cointelegraph)
• CME futures traders widely bearish on Bitcoin as a big movement looms (Cryptoslate)
• The biggest thing since Bitcoin? New AI protocol scares Twitter users (Cryptoslate)
• Japan: Bitcoin-friendly central bank creates digital currency division (Cryptoslate)
• South African crypto exchange VALR raises $3.45 million in Series A funding (The Block)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization spent the day contesting and poking the $9,251 resistance level until a large spike caused by an increase in bear presence brought its price to $9,380. Bitcoin passed $9,251 instantly, but could not reach $9,580. It is currently trying to stabilize at around $9,330.

BTC traders should look for a trade opportunity after bitcoin establishes its position.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and its 21-period EMA
• Price above the top B.B.
• RSI is overextended (69.86)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $9,580                                 1: $9,251

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

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

Ethereum

Ethereum accompanied Bitcoin on its slow path towards the upside, but with its own little twist. While the upswings were much more explosive, the downswings were slower and less volatile. Ethereum reached past $240, which is where it is consolidating at the moment. The start of the explosive move got supported by the influx of buyers as well as the 21-period and 50-period moving averages, which were right at the bottom of the candle.

Ethereum traders should look for an opportunity when Ethereum confirms that it will stay above $240, or when it fails to do so.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above the 50-period EMA and the 21-period EMA
• Price above the top B.B.
• RSI elevated (67.20)
• Slightly increased volume

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $260                                     3: $218

Ripple

The third-largest cryptocurrency by market cap, unlike Bitcoin and Ethereum, had a pretty slow day. XRP hovered around the $0.2 resistance level, but could not break it. The inability to break this level might come from the steady low volume XRP has. For the time being, XRP will continue to trade stuck in a range, bound by support level of $0.19 and resistance level of $0.2.

XRP traders can look for an opportunity to trade when the currency breaks $0.2 with increased volume, or falls down towards $0.19 with increased volume.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price above 21-period and the 50-period EMA
• Price between the middle B.B. (20-period SMA) and the top B.B.
• RSI is neutral (56.72)
• Volume average

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

 

The cryptocurrency market spent the weekend recovering from the descending trend that brought Bitcoin to $9,000. Bitcoin is currently trading for $9,200, which represents an increase of 0.15% on the day. Meanwhile, Ethereum gained 1.51% on the day, while XRP lost 0.49%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Band Protocol gained 39.23% on the day, making it by far the most prominent daily gainer. Terra (30.63%) and Swipe (28.00%) also did great. On the other hand, Flexacoin has lost 31.16%, making it the most prominent daily loser. It is followed by iExec RLC’s loss of 11.66% and Reserve Rights’ loss of 10.95%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 62.5%. This value represents a 0.33% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $272.69 billion. This value represents an increase of $3 billion when compared to the value it had on Friday.

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What happened in the past 24 hours?

_______________________________________________________________________

• Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention) (Coindesk)
• New Standard to Avoid Ethreum Contract Size Limitation Developed (Cointelegraph)
• ‘Worthless Coin’ — McAfee Says He Never Believed Bitcoin Would Hit $1M (Cointelegraph)
• Twitter Hacker Is a BitMEX Trader, On-Chain Data Suggests (Coindesk)
• These 3 signals show crypto could see a major reflation “on par” with 2017 (Cryptoslate)
• FTX Exchange, Not Coinbase, Has Been DeFi’s Greatest Proponent (Cryptobriefing)
• Why Is XRP Crashing? Data Shows Ripple Is Flooding the Market (Cryptobriefing)
• $1.6 billion was invested in institutional-focused crypto custody services: research (The Block)
• A closer look at Binance’s Q2 performance: spot volume is flat while futures are seeing growth (The Block)
• Elliptic says 22% of bitcoins from Twitter hack were likely sent to a Wasabi Wallet address for mixing (The Block)

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Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the weekend slowly regaining its value after the drop to $9,000. The slow rise in price was stopped by an influx of buyers, which tried to bring the price above the $9,251 resistance level but failed to do so as the sheer volume was too low. Bitcoin is now consolidating at around the $9,200 level.

BTC traders should look for a trade opportunity in the range that is bound by the nearest support and resistance levels.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and its 21-period EMA
• Price right below the top B.B.
• RSI is neutral (53.87)
• Lower than average volume

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

While Ethereum accompanied Bitcoin on its slow path towards the upside, it did so with much lower volume and volatility. The most recent hours brought a sharp increase in price, which attempted to bring the price above $240, but the push was unsuccessful. Ethereum is now consolidating right below the $240 level.

Ethereum traders should look for an opportunity when Ethereum starts moving down, or when it reacts to the next support/resistance level.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above the 50-period EMA and the 21-period EMA
• Price above the top B.B.
• RSI elevated (63.03)
• Average/slightly increased volume

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $260                                     3: $218

Ripple

The third-largest cryptocurrency by market cap moved along its range-bound upwards path towards $0.2. While the move got stopped at $0.2, XRP managed to gain some value over the course of the weekend. Volume remained stable throughout this slow increase, which is a great indicator.

XRP traders can look for an opportunity to trade when the currency breaks $0.2 with increased volume, or falls down towards $0.19 towards increased volume.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price above 21-period and the 50-period EMA
• Price between the middle B.B. (20-period SMA) and the top B.B.
• RSI is neutral (55.26)
• Volume average

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

 

The cryptocurrency market spent most of its day recovering from the move that brought Bitcoin to $9,000. Bitcoin is currently trading for $9,119, which represents a decrease of 0.85% on the day. Meanwhile, Ethereum lost 1.88% on the day, while XRP lost 1.37%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Ampleforth gained 28.69% on the day, making it by far the most prominent daily gainer. Algorand (24.57%) and Aurora (16.45%) also did great. On the other hand, Divi has lost 8.28%, making it the most prominent daily loser. It is followed by Nexo’s loss of 7.12% and Elrond’s loss of 6.55%.

 

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 62.83%. This value represents a 0.11% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization decreased slightly when compared to when we last reported, with the market’s current value being $269.69 billion. This value represents a decrease of $2.84 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Twitter Hack Sparks Fresh Calls to “Ban Bitcoin” (Cryptobriefing)
• The Federal Bureau of Investigation is reportedly investigating the Twitter account hack (The Block)
• Q4 2020 will be crazy for crypto, says VC: DeFi, Ethereum 2.0, Libra, and more (Cryptoslate)
• Beijing government releases its blueprint for becoming a blockchain hub (The Block)
• Bitcoin exchange volume dominance picks up after hitting lows in 2018 (The Block)
• How COVID-19 is helping bring ‘blockchain, not Bitcoin’ back from the dead (The Block)
• Why Is XRP Crashing? Data Shows Ripple Is Flooding the Market (Cryptobriefing)
• Amazon Prime Membership Should Have Been a Tokenized Asset (Coindesk)
• Abra CEO Agrees With Bitcoin’s Role as Digital Gold (Cointelegraph)
• DeFi Tokens Outperformed Bitcoin in Q2, but Will the Rally Continue? (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization started the day quite rough, with its price dropping to $9,000 as bearish influence and volume increased. However, the price quickly retraced back above the $9,120 level, where it is currently consolidating. However, Bitcoin is approaching the descending trend line, which fell under during its drop to $9,000, which may cause the price to move once again.

BTC traders should look for a trade opportunity when Bitcoin reacts to the descending trend line.

BTC/USD 4-hour Chart

Technical factors:

• Price is below its 50-period EMA and its 21-period EMA
• Price right below the middle B.B. (20-period SMA)
• RSI neutral/low (40.42)
• Average volume (came back from increased)

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum started the day by being rejected from the $240 level, therefore triggering a fall towards the $228 level. The second-largest cryptocurrency by market capitalization managed to stop its price drop at $229 and slowly start to recover and consolidate. While the price is on a slow path towards the upside, the ultimate short-term direction of Ethereum is unknown.

Ethereum traders should look for an opportunity when Ethereum approaches the $240 level.

ETH/USD 4-hour Chart

Technical Factors:

• Price below the 50-period EMA and the 21-period EMA
• Price below the middle B.B. (20-period SMA)
• RSI neutral (40.36)
• Average volume (back from greatly increased)

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $260                                     3: $218

Ripple

The third-largest cryptocurrency by market cap was no exception to how the price action played out. The day started with a sharp price drop, which brought the price below $0.19. However, XRP quickly recovered and got on a slow upward trend, which may be stopped by the moving averages above it. If, however, XRP manages to pass them, the $0.2 resistance level will still pose a big problem.

XRP traders can look for an opportunity to trade when the volume increases, and the trend becomes clear enough, as the low volume and volatility are certainly not ideal for trading at the moment.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price below 21-period and the 50-period EMA
• Price right under the middle B.B. (20-period SMA)
• RSI is neutral (43.89)
• Volume lower than average

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

 

The cryptocurrency market had quite a slow day with sideways movements. Bitcoin is currently trading for $9,206, which represents a decrease of 0.59% on the day. Meanwhile, Ethereum lost 0.53% on the day, while XRP lost 0.95%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Elrond gained 14.90% on the day, making it by far the most prominent daily gainer. Syntherix Network (12.31%) and iExec RLC (11.07%) also did great. On the other hand, Bytom has lost 8.57%, making it the most prominent daily loser. It is followed by Nervos Network’s loss of 8.39% and Divi’ loss of 8.38%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 62.72%. This value represents a 0.28% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization didn’t change in valuation when compared to when we last reported, with the market’s current value being $272.53 billion. This value represents a decrease of $0.13 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Unprecedented Twitter Breach: Barack Obama, Jeff Bezos, Joe Biden, Dozens of High-Profile Accounts Compromised in Bitcoin Giveaway Scam (Cryptobriefing)
• PayPal Confirms Cryptocurrency Integration Effort in Letter to E.U. (Cryptobriefing)
• Regulators Will Crush DeFi Unless It Becomes Truly Decentralized (Cryptobriefing)
• Ethereum Is Ready to Go Bullish According to These Indicators (Cryptobriefing)
• The Logbook: Coinbase asset listing and bitcoin dominance (The Block)
• As Alt Season Cranks Up, NEO Network Turns Heads (Cryptobriefing)
• Crucial Technical Index Predicts an Imminent Bitcoin Breakout (Cryptobriefing)
• Hong Kong Citizens Turn to Stablecoins to Resist National Security Law (Coindesk)
• Chinese Energy Supplier Deploys Blockchain Node in State-Run Network (Cointelegraph)
• IOTA Launches Chronicle, a Decentralized Storage Framework (Cryptobriefing)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had quite a slow day. Its price followed the descending resistance line throughout most of the day until it jumped slightly above it. However, the current move has insufficient strength to pass the $9,251 resistance level. On top of that, the upside is guarded by the 21 as well as 50-period moving averages.

BTC traders should look for a trade opportunity after the largest cryptocurrency passes $9,251, or fails to break it.

BTC/USD 4-hour Chart

Technical factors:

• Price is below its 50-period EMA and its 21-period EMA
• Price right below the middle B.B. (20-period SMA)
• RSI neutral (47.59)
• Average volume

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum also had a slow day, with its price dancing between $237.5 (where ETH seems to have found some form of support) and a $240 resistance level. The second-largest cryptocurrency by market capitalization might attempt to break $240 very soon, but such a move would need strong confirmation afterward to be completely valid.

Ethereum traders should look for an opportunity after the fight for $240 ends.

ETH/USD 4-hour Chart

Technical Factors:

• Price below the 50-period EMA and the 21-period EMA
• Price below the middle B.B. (20-period SMA)
• RSI neutral (47.81)
• Average volume

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $260                                     3: $218

Ripple

The third-largest cryptocurrency by market cap was trading sideways throughout the day, with its price being slightly below $0.2. The resistance level held up quite nicely, which brought XRP’s price down by a bit. However, even though it performed the worst out of the top3 cryptocurrencies in the past 24 hours, XRP’s price moved less than 1% in total.

XRP traders can look for an opportunity to trade when the volume increases, and the trend becomes clear enough, as the low volume and volatility are certainly not ideal for trading at the moment.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price above 21-period and below the 50-period EMA
• Price right under the middle B.B. (20-period SMA)
• RSI is neutral (47.11)
• Volume lower than average

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 had quite a slow day and closed to no movement in the past 24 hours. Bitcoin is currently trading for $9,243, which represents an increase of 0.59% on the day. Meanwhile, Ethereum gained 0.56% on the day, while XRP gained 0.74%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Kava gained 20.77% on the day, making it by far the most prominent daily gainer. Syntherix Network (16.17%) and Waves (15.28%) also did great. On the other hand, Nexo has lost 12.73%, making it the most prominent daily loser. It is followed by Ravencoin’s loss of 8.11% and The Midas Touch’ loss of 6.75%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 63%. This value represents a 0.27% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $272.66 billion. This value represents an increase of $1.79 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin’s correlation with gold is critical as fears of a stock market collapse grow (Cryptoslate)
• Fidelity Investments invests big in Bitcoin mining as institutions want crypto (Cryptoslate)
• Bitcoin mining difficulty reaches historic highs—and analysts say it’s bullish (Cryptoslate)
• Darknet use of bitcoin mixers surged in 2020’s first quarter: report (The Block)
• Binance’s crypto payments card to debut in Europe starting next month (The Block)
• European Investors Outpace Americans in Race to Bitcoin, but That May Soon Change (Cryptobriefing)
• Zcash Surges 25%, Get Ready for a Nosedive (Cryptobriefing)
• Bank of England mulls digital currency as Chinese efforts surge (Cryptoslate)
• Former Chinese Official Says CBDC Will Pave Way for Digital Stocks (Cointelegraph)
• Japanese Banking Giant to Issue Its Own Stablecoin in Late 2020 (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had quite a slow day. While its price went above the descending resistance line, the price itself did not move that much. On top of that, the move seemingly got stopped by the $9,251 resistance level (at least for now). The decreasing volume while being stopped by both moving averages and the resistance level suggests that the move reached exhaustion and that $9,251 will not be tackled (in the very near future).

BTC traders should look for a trade opportunity after the largest cryptocurrency passes $9,251.

BTC/USD 4-hour Chart

Technical factors:

• Price is below its 50-period EMA and its 21-period EMA
• Price right below the middle B.B. (20-period SMA)
• RSI neutral (48.17)
• Increased volume (Coming back to normal)

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum was even less volatile than Bitcoin, with its price hardly even moving throughout the day. The second-largest cryptocurrency by market capitalization spent the day sitting on the $240 level while the bears and bulls were fighting on whether the price will consolidate below or above it. The volume dwindled as time passed, and ETH seems like it has more chance of remaining under $240. However, there is still a chance for bulls to win.

Ethereum traders should look for an opportunity after the fight for $240 ends.

ETH/USD 4-hour Chart

Technical Factors:

• Price above the 50-period EMA and below the 21-period EMA
• Price below the middle B.B. (20-period SMA)
• RSI neutral (48.14)
• Increased volume (Coming back to normal)

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $260                                     3: $218

Ripple

The third-largest cryptocurrency by market cap hardly moved at all after the price drop of July 13, which brought the price below the $0.2 threshold yet again. XRP is hovering below the $0.2 level for two days now, without any possibility of breaking it yet.

XRP traders can look for an opportunity to trade when the volume increases, and the trend becomes clear enough, as the low volume and volatility are certainly not ideal for trading at the moment.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price above 21-period and below the 50-period EMA
• Price right under the middle B.B. (20-period SMA)
• RSI is neutral (46.8)
• Volume lower than average

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 shad a green day, mostly caused by Bitcoin dropping under its immediate support level. Bitcoin is currently trading for $9,199, which represents a decrease of 0.82% on the day. Meanwhile, Ethereum lost 1.6% on the day, while XRP lost 1.42%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Aurora gained 245.87% on the day, making it by far the most prominent daily gainer. Divi (24.12%) and Ravencoin (17.39%) also did great. On the other hand, Ampleforth has lost 36.61%, making it the most prominent daily loser. It is followed by Nexo’s loss of 13.30% and Quant’ loss of 11.55%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 63.27%. This value represents a 0.33% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization decreased slightly when compared to when we last reported, with the market’s current value being $270.87 billion. This value represents a decrease of $3 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• IRS Violated ‘Taxpayer Bill of Rights’ With 2019 Crypto Letters: Watchdog (Coindesk)
• Bank of England governor says the U.K. central bank is weighing a digital currency (The Block)
• Success of Bitcoin Hinges on “Relationships With Law Enforcement,” Says Coinbase CEO (Cryptobriefing)
• Crypto Taxes: Still Confused After All These Years (Coindesk)
• Coinbase CEO explains why they sell blockchain analytics software to the U.S. secret service (Cryptoslate)
• The U.S. Army is seeking info on crypto tracing tools for cybercrime investigations (The Block)
• The surprising reason why Ethereum could determine Cardano’s next price trend (Cryptoslate)
• South Korea Could Issue a Crypto Capital Gains Tax as High as 20% (Cointelegraph)
• Data Shows the ‘Cheaper Altcoins Make Higher Returns’ Myth Is Flawed (Cointelegraph)
• Crypto Lawyers Are in Hot Demand as the Industry Goes Mainstream, Say Experts (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had a red day as bears broke its immediate support level. BTC dropped below the descending trend line as well as the $9,251 level in a short bear run. The price went all the way down to the $9,120 support level, but stopped and reversed its path there.

Once again, BTC traders had a great opportunity to trade the pullback after the bearish move. Trading Bitcoin’s reversals and confirmations are the safest way to trade at the moment.

BTC/USD 4-hour Chart

Technical factors:

• Price is below its 50-period EMA and its 21-period EMA
• Price at the lower B.B.
• RSI at below the middle point and heading down (42.17)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum had a slightly red day as well, but with a much tamer move towards the downside. While bears did manage to push Ethereum below the $240 level, they faced a good amount of resistance at the 4-hour 50-period moving average. However, the price went under it as well, but stopped near the $237 level, where some form of support is created.

Ethereum traders should look for an opportunity to trade the next bounce off of $240 or break to the downside from the $240.

ETH/USD 4-hour Chart

Technical Factors:

• Price below the 50-period EMA and the 21-period EMA
• Price at the lower B.B.
• RSI near the middle (45.68)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $260                                     3: $218

Ripple

The third-largest cryptocurrency by market cap fell below the $0.2 support level after a failed attempt of breaking $0.205 to the upside. The price dropped all the way to $0.192 before bouncing back. XRP is now consolidating above the 4-hour 50-period moving average, which it uses as a temporary support. The “battle” for $0.2 is, however, not yet finished.

XRP traders can look for an opportunity to trade after XRP establishes whether it will end up above or below $0.2.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price below 21-period and the 50-period EMA
• Price at the lower B.B.
• RSI is neutral (45.92)
• Average volume

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 spent the weekend mostly rising in price after a semi-severe drop in price. Bitcoin is currently trading for $9,289, which represents an increase of 0.03% on the day. Meanwhile, Ethereum gained 0.59% on the day, while XRP lost 1.03%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, iExec RLC gained 17.91% on the day, making it by far the most prominent daily gainer. Chainlink (17.25%) and Elrond (12.52%) also did great. On the other hand, Flexacoin has lost 21.07%, making it the most prominent daily loser. It is followed by UNUS SED LEO’s loss of 6.27% and Celsius’ loss of 6.03%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 62.95%. This value represents a 0.34% difference to the downside when compared to Friday’s value.

 

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $273.87 billion. This value represents an increase of $0.74 billion when compared to the value it had on Friday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Coinbase is selling blockchain analytics software to the US Secret Service (The Block)
• These charts suggest Bitcoin’s “safe-haven” status is about to see its ultimate test (Cryptoslate)
• More Delays? Ethereum 2.0 Developers Expect 2021 Launch, Vitalik Buterin Pushes for 2020 (Cryptobriefing)
• Despite Crypto Bans, YouTube Now Shows Scam Ads Asking Users to Send Bitcoin (Cryptobriefing)
• ETH trades 80% below its $1,400 high, but Ethereum metrics are setting records (Cryptoslate)
• The IRS needs a crypto ‘subject matter expert’ to help beef up its crypto investigation efforts (The Block)
• The CFTC to Further Legitimize Bitcoin With Regulated Derivatives (Cryptobriefing)
• Attempted 51% Attack on Bitcoin Gold Was Thwarted, Developers Say (Coindesk)
• Chainlink (LINK) Surges 39.5% to a New All-Time High — Here’s Why (Cointelegraph)
• Key Metrics Show Institutional Interest in Crypto Is High and Rising (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had an average weekend in terms of volatility. Its price went down from $9,200 levels to $9,000 first, but bounced back quickly and started regaining its previous levels. BTC faced resistance in the form of the descending trend line for a short while but overcame it eventually. The price went up and then down to confirm the position above the level above which it is currently trading.

BTC trades should wait for the next increase in volume before trading BTC.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and its 21-period EMA
• Price between the upper B.B. and the middle B.B (20-period SMA)
• RSI at the mid-levels (52.35)
• Decreased volume

Key levels to the upside          Key levels to the downside

1: $9,580                                 1: $9,251

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

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

Ethereum

Ethereum had had a slow weekend, with mostly sideways movement. However, the second-largest cryptocurrency by market cap managed to establish its position above the $240 during it. While the move to the upside seems to be done, Ethereum fulfilled its short-term goal and can trade, knowing it has strong support at $240.

Ethereum traders should look for an opportunity to trade the next bounce off of $240 or break to the downside from the $240.

ETH/USD 4-hour Chart

Technical Factors:

• Price above the 50-period EMA and the 21-period EMA
• Price slightly below the upper B.B.
• RSI near the middle (55.41)
• Decreased volume

Key levels to the upside          Key levels to the downside

1: $251.4                                 1: $240

2: $260                                    2: $228

3: $278.8                                  3: $225.4

Ripple

The third-largest cryptocurrency by market cap kept making higher lows and lower highs throughout the weekend. Ultimately, the price broke $0.2 to the downside and came back above it many times, with it currently being below $0.2. It is still uncertain where the price will end up.

XRP traders can look for an opportunity to trade after XRP establishes whether it will end up above or below $0.2.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price is at the 21 and above the 50-period EMA
• Price slightly above the middle B.B. (20-period SMA)
• RSI is neutral (52.65)
• Average volume

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 was mostly in the red in the past 24 hours, with Bitcoin currently trading for $9,169, which represents a decrease of 2.62% on the day. Meanwhile, Ethereum lost 3.73% on the day, while XRP lost 4.45%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Holo gained 25.95% on the day, making it by far the most prominent daily gainer. Nervos Network (13.81%) and The Midas Touch (13.38%) also did great. On the other hand, Flexacoin has lost 13.72%, making it the most prominent daily loser. It is followed by Quant’s loss of 11.26% and Siacoin’s loss of 9.81%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 63.29%. This value represents a 0.1% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization decreased when compared to when we last reported, with the market’s current value being $273.13 billion. This value represents a decrease of $2.57 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Switching Bitcoin to 100% ASIC Mining Could Increase Security 2000X (Cointelegraph)
• Tether-Bitfinex Must Stand Trial Over $850 Million in Lost Customer Funds (Cryptobriefing)
• Tether Can Freeze Your USDT, 39 Addresses Containing Millions Blacklisted (Cryptobriefing)
• Coinbase Is Preparing to IPO, Big Win for Crypto (Cryptobriefing)
• ‘Libra Will Never See The Light Of Day’: Monetary Historian (Cointelegraph)
• Smart Contracts ‘Have Limited Potential’ Without IoT Sensors (Cointelegraph)
• Bitcoin and the need for financial privacy (The Block)
• Why Vanguard is convinced it needs a blockchain for over-the-counter FX trading (The Block)
• Binance CEO has an explanation for a possible TikTok-driven altseason (Cryptoslate)
• BitClub Programmer Admits Mining Scheme Stole $722M in Bitcoin (Coindesk)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had a red day, as bears pushed the price back down towards the $9,000. The descending line Bitcoin broke previously fell under the bearish pressure, and Bitcoin started rushing towards the downside. The bearish move got stopped by the $9,120 level, which held up quite nicely. However, bears have not reached exhaustion, which means that the $9,120 level is not safe yet.

BTC trades should look for the retracement move for a safe trade.

BTC/USD 4-hour Chart

Technical factors:

• Price is below its 50-period EMA and its 21-period EMA
• Price at the lower B.B.
• RSI at the lower levels (37.8)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $9,580                                 1: $9,251

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

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

Ethereum

Ethereum made a move towards the downside as well, falling below the ascending line it previously broke, as well as below the $240 level. The move was (for now) stopped by the 4-hour 50-period moving average, and ETH seems to be starting a consolidation phase near the $240 level.

Ethereum traders should look for an opportunity in trading pullbacks from the moving averages or horizontal levels. They should also pay close attention to Bitcoin’s movement, as BTC is mostly the main factor that causes ETH’s volatility.

ETH/USD 4-hour Chart

Technical Factors:

• Price above the 50-period EMA and below the 21-period EMA
• Price slightly below the middle B.B. (20-period SMA)
• RSI near the middle (45.8)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $260                                     3: $217.7

Ripple

The third-largest cryptocurrency by market cap ended up in the red as well. After bulls reaching exhaustion at $0.212, bears took over and caused the price to reach the lows of $0.192, therefore breaking $0.205 and $0.2 support levels. XRP has strong support at the $0.19 line (both the horizontal support line and the 50-period moving average are there), so there is almost no chance XRP will move down (unless BTC makes a sharp move down).

XRP traders can look for an opportunity to trade in a range, as XRP is pretty much bound within $0.19 to $0.20 range unless BTC makes a move.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price is below the 21 and above the 50-period EMA
• Price slightly below the middle B.B. (20-period SMA)
• RSI is neutral (50.6)
• Increased volume

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 made another slight move towards the upside in the past 24 hours. Bitcoin is currently trading for $9,414, which represents an increase of 1.39% on the day. Meanwhile, Ethereum gained 2.91% on the day, while XRP gained 3.34%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Holo gained 40.15% on the day, making it by far the most prominent daily gainer. Stellar (20.70%) and Nervos Network (16.73%) also did great. On the other hand, Quant has lost 11.42%, making it the most prominent daily loser. It is followed by SwissBorg’s loss of 6.36% and Cardano’s loss of 6.16%.

 

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased since we last reported, with its value currently at 63.39%. This value represents a 0.14% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $275.70 billion. This value represents an increase of $3.55 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Here are the numbers behind TikTok’s crazy Dogecoin moment (The Block)
• Galaxy Digital’s next step on the road to becoming the Goldman Sachs of crypto: prime brokerage (The Block)
• Former Goldman CFO breaks down why a digital dollar is better than bitcoin and stablecoins (The Block)
• Italian Banking Industry Chose Decentralization Over Centralization (Cointelegraph)
• $100,000 USDC Blacklisted, Highlighting Importance of Decentralized Stablecoins (Cryptobriefing)
• Ethereum miners set a record for revenue from transaction fees in June (The Block)
• Introducing the CoinDesk 20: The Assets That Matter Most in Crypto (Coindesk)
• Monex Becomes First Japanese Securities Firm to List Cryptocurrency CFD (Cointelegraph)
• ‘Fireworks Are Coming’ — FX Markets Will Boost Bitcoin, Says Analyst (Cointelegraph)
• Kraken Discovers Potential Attacks Against Ledger Wallets, User Funds Unaffected (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has made another move towards the upside as bulls gathered up. The price managed to push above the descending trend line and reach just shy of $9,500 before returning down to test the newly conquered line as a support level. The line was tested successfully, and Bitcoin seems like it’s consolidating at the $9,400 level.

As mentioned yesterday, the descending line forced a move on Bitcoin, which ended up in BTC crossing to the upside. As with most BTC trades, trading confirmations and pullbacks are the safest way to profit.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and its 21-period EMA
• Price is between the upper B.B. and middle line (20-period SMA)
• RSI at the upper levels (65.5)
• Increased volume (returning to average)

Key levels to the upside          Key levels to the downside

1: $9,580                                 1: $9,251

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

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

Ethereum

Ethereum made a move towards the upside as well. In fact, it broke a much stronger resistance level than Bitcoin. The ascending resistance level was broken as volume skyrocketed, but the price fell back under it during the confirmation period. However, Ethereum passed to the upside again, where it is now. It is important to note that this price level is unstable because it has not been properly confirmed, as well as because the line is moving sharply towards the upside, which Ethereum might not be able to follow for a long period of time.

Ethereum traders should look for an opportunity to trade around the ascending line (possibly when ETH falls back under it again).

ETH/USD 4-hour Chart

Technical Factors:

• Price above the 50-period EMA and the 21-period EMA
• Price slightly below the upper B.B.
• RSI almost in the overbought territory (68)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $260                                     3: $217.7

Ripple

The third-largest cryptocurrency by market cap had much more uniformed moves. After days of almost no volume and volatility, the past couple of days have been extremely interesting for XRP’s price. XRP managed to break the $0.19 resistance (now support) yesterday, while its most recent spike brought its price above $0.2. However, the move got stopped at the $0.205 resistance level a couple of times, so XRP is now trading within a small range.

XRP traders can look for an opportunity to trade now since XRP is trading within a range bound by $0.2 and $0.205.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price is above the 21 and 50-period EMA
• Price slightly below the upper B.B.
• RSI is in the overbought territory (71)
• Increased volume

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 had more of a steady day as cryptos were trying to find a level to consolidate at. Bitcoin is currently trading for $9,300, which represents an increase of 0.37% on the day. Meanwhile, Ethereum gained 1.61% on the day, while XRP gained 2.43%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Dogecoin gained 54.43% on the day, making it by far the most prominent daily gainer. Cardano (27.36%) and VeChain (18.52%) also did great. On the other hand, SwissBorg has lost 6.68%, making it the most prominent daily loser. It is followed by KuCoin Shares’s loss of 5.48% and Verge’s loss of 4.84%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased since we last reported, with its value currently at 63.25%. This value represents a 0.88% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $272.15 68.74 billion. This value represents an increase of $3.41 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin Will Never Be Truly Private Says Andreas Antonopoulos (Cointelegraph)
• Bitcoin and Ethereum futures volume fell dramatically in June (The Block)
• South Korea Considers Blockchain-Run Free Trade Zone (Cointelegraph)
• Nearly $60M in Bitcoin Moved to Ethereum in June (Coindesk)
• Crypto Exchanges See Big Drop in Volumes as Bitcoin Volatility Approaches 2020 Low (Coindesk)
• Coinbase Exec Says Capital Will Flee US Due to Crypto Tax Laws (Cointelegraph)
• Zoomers Push Dogecoin Up 20% in Viral TikTok Pump (Cryptobriefing)
• DeFi Hits $2 Billion for First Time, Yield Farming Platforms Pave the Way (Cryptobriefing)
• Rising stablecoin supply sets the stage for the crypto market to see a strong Q3 (Cryptoslate)
• Could a Cardano & Litecoin Team Up Be in the Works? (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the day trying to find a place to consolidate at, as it seems like the move towards the upside ended as soon as BTC approached the descending line). While Bitcoin found support at $9,251, its support level and resistance level will soon clash, and Bitcoin will have to make a move.

Traders should look for what happens with Bitcoin’s price when the descending line forces a move on BTC.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and its 21-period EMA
• Price is between the upper B.B. and middle line (20-period SMA)
• RSI at the upper levels (61)
• Average Volume

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum’s is in a slightly different spot when compared to Bitcoin. While its price advances have been stopped by the non-horizontal resistance level, Ethereum’s resistance line is going towards the upside. That opens up a lot of possibilities as ETH isn’t forced to make a move, but might rather choose to follow the line up.

Ethereum traders should look for an opportunity in range trading between the immediate support and resistance levels.

ETH/USD 4-hour Chart

Technical Factors:

• Price above the 50-period EMA and the 21-period EMA
• Price slightly below the upper B.B.
• RSI almost in the overbought territory (67)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $260                                     3: $217.7

Ripple

The third-largest cryptocurrency by market cap had an extremely volatile day. XRP managed to skyrocket from $0.183 all the way to $0.2 in one 4-hour candle. The move got stopped by the $0.2 resistance, under which XRP is currently consolidating. While it is highly likely that the move will end here, we might see an attempt of breaking $0.2 yet again.

XRP traders should wait and see what XRP does and look for retracements.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price is above the 21 and 50-period EMA
• Price at the upper B.B.
• RSI is in the overbought territory (79)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $0.19                                    1: $0.178

2: $0.2                                      2: $0.147

3: $0.205

 

The cryptocurrency market has had a pretty volatile day, with most cryptos trying to make a move towards the upside. Bitcoin is currently trading for $9,257, which represents an increase of 0.79% on the day. Meanwhile, Ethereum gained 1.82% on the day, while XRP gained 2.2%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Dogecoin gained 21.58% on the day, making it by far the most prominent daily gainer. Aave (20.85%) and Bitcoin SV (15.90%) also did great. On the other hand, Bytom has lost 7.49%, making it the most prominent daily loser. It is followed by NULS’s loss of 7.25% and Synthetix Network’s loss of 3.81%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased since we last reported, with its value currently at 64.13%. This value represents a 0.68% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $268.74 billion. This value represents an increase of $4.43 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Record Bitcoin Options Market Volume Shows Institutions Keen on Crypto (Cointelegraph)
• App Connects Bitcoin and Lightning Payments Directly to Your Bank Account (Cointelegraph)
• Block.One Co-Founder Brock Pierce Files to Run for US President (Coindesk)
• Mercedes Maker Daimler Tests Blockchain for Supply-Chain Data Sharing (Coindesk)
• Bitcoin’s Lightning Network Is Vulnerable to ‘Looting’: New Research Explains (Coindesk)
• Data shows that mass adoption is still nowhere to be found (The Block)
• The demand for WBTC has been soaring lately. Here’s why. (The Block)
• IPOs Are ‘Really Not Worth It’ Says Tim Draper (Cointelegraph)
• Expedia Partners With Crypto Service Travala.com for Crypto Bookings (Cointelegraph)
• Enterprise Friendly Blockchain Tapping Into Wine Supply Chain Business (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the day being quite volatile, even though it only had an average volume. Bitcoin tried to push past its $9,251 resistance level, which it did for a brief period, but then failed as the price reached a descending resistance line (dating June 01). The bulls got stopped from rising the price, and the price came back to the $9,251 level. It is still unsure whether it will end up above or below the level.

Bitcoin traders should look for whether the price will end up creating a confirmation of a move above or below the $9,251 and go from there.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and its 21-period EMA
• Price is below the top B.B.
• RSI at the upper levels (58.49)
• Average Volume

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum’s price movements followed Bitcoin’s almost to a tea. The second-largest cryptocurrency by market cap rose in price as bull presence intensified, reaching the price of $244 before starting to go back down. The price returned below the $240 level and is now consolidating at the $236 levels. Unlike Bitcoin, Ethereum has quite a bit of volume, which may indicate that its move isn’t over.

Ethereum traders should look for an opportunity in trading when ETH’s price hits the support levels (moving averages, horizontal support levels, etc.).

ETH/USD 4-hour Chart

Technical Factors:

• Price above the 50-period EMA and the 21-period EMA
• Price slightly below the upper B.B.
• RSI almost in the overbought territory (62.8)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $228                                    1: $225.4

2: $240                                    2: $217.7

3: $251.4                                  3: $198

Ripple

The third-largest cryptocurrency by market cap broke the $0.178 resistance level as well as secured its position above it yesterday. However, the bulls wanted more, and XRP continued its “gain season.” However, it was stopped in its tracks by the $0.19 level. XRP is now consolidating between $0.178 and $0.19.

XRP traders should wait and see how XRP reacts to indicators (moving averages) and go from there.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price is above the 21 and 50-period EMA
• Price is slightly below the upper B.B.
• RSI is in the overbought territory (64.6)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $0.19                                    1: $0.178

2: $0.2                                      2: $0.147

3: $0.205

 

The cryptocurrency market has had a relatively slow weekend until 12 hours ago when the volatility skyrocketed, and cryptocurrencies started moving. Bitcoin is currently trading for $9,221, which represents an increase of 1.63% on the day. Meanwhile, Ethereum gained 2.6% on the day, while XRP gained 2.52%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Bytom gained 18.16% on the day, making it by far the most prominent daily gainer. ABBC Coin (11.31%) and NULS (10.89%) also did great. On the other hand, Celsius has lost 10.85%, making it the most prominent daily loser. It is followed by Loopring’s loss of 8.98% and Blockstack’s loss of 5.40%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased since we last reported, with its value currently at 64.81%. This value represents a 0.32% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $264.31 billion. This value represents an increase of $3.72 billion when compared to the value it had on Friday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bakkt volume soars by 17% as institutional interest in crypto flourishes (Cryptoslate)
• There’s no end in sight to XRP’s downtrend as transaction volume wanes (Cryptoslate)
• Coronavirus pushes Bitcoin-friendly Japan to begin “Digital Yen” trials (Cryptoslate)
• Bitcoin’s Lightning Network Faces Existential Risk in “Flood and Loot” Attack (Cryptobriefing)
• Ripple Is Becoming a Dumping Ground for Bitcoin Spam Transactions (Cryptobriefing)
• Bitcoin’s Price Correlation With S&P 500 Hits Record Highs (Coindesk)
• Adjusted transaction volume for stablecoins hit new all-time high in June: data (The Block)
• More than $180 billion in bitcoin was transacted on-chain during 2020’s Q2 (The Block)
• Compound holds massive influence over 3 major tokens: Breaking down the “COMP effect” (Cryptoslate)
• CBDC is the Most Important Trend in Payments Says Visa Crypto Chief (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the weekend without too much volatility, mostly trading within a range bound by $8,980 and $9,120. There were a couple of occasions where the price tried to pass below the support level and one time that it tried to break above the resistance. However, the volatility skyrocketed in the past 12 hours, as Bitcoin first dropped significantly, reaching $8,900, only to recover and push to $9,200.

Bitcoin seems to be stopped at the $9,251 resistance level, and people should look for how the price movement unfolds after that. Trading when Bitcoin moves within a range, or trading breakout confirmations and pullbacks is the easiest way to net a profit.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and its 21-period EMA
• Price is above the top B.B.
• RSI at the upper levels (62.4)
• Increased Volume

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum’s price movements looked a lot like Bitcoin’s, except that it made an even bigger gain on the daily. The second-largest cryptocurrency by market cap had strong support at $225.4 from which it bounced up, reaching $235. However, the momentum dwindled, and Ethereum is unsure of whether it will continue its move up. For now, the price is consolidating at around $233.

Ethereum traders should look for an opportunity in trading pullbacks or confirmations from ETH contesting the trend (if it manages to reach the bottom trend line).

ETH/USD 4-hour Chart

Technical Factors:

• Price above the 50-period EMA and the 21-period EMA
• Price above the upper B.B.
• RSI almost in the overbought territory (67.2)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $228                                    1: $225.4

2: $240                                    2: $217.7

3: $251.4                                  3: $198

Ripple

The third-largest cryptocurrency by market cap finally gathered enough bull presence to make a move towards the upside. Sparked up by Bitcoin’s movements, XRP broke out of the descending trend (for now) and reached past the $0.178 support level. While the move seems to be over, due to buyer exhaustion, XRP managed to reach $0.182 levels, which should make it safe from immediately falling under $0.178 (at least in the short term).

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend (though it broke the trend in the short-term)
• XRP lacks strong support levels below $0.178
• Price is above the 21 and 50-period EMA
• Price is above the upper B.B.
• RSI is in the overbought territory (71.2)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $0.178                                    1: $0.147

2: $0.19                                    

3: $0.2

 

The cryptocurrency market has gone through the day trying to make moves to the upside, but mostly ending up in the red. Bitcoin is currently trading for $9,102, which represents a decrease of 1.2% on the day. Meanwhile, Ethereum lost 0.78% on the day, while XRP lost 0.05%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Kyber Network gained 13.60% on the day, making it by far the most prominent daily gainer. ICON (10.43%) and VeChain (6.68%) also did great. On the other hand, The Midas Touch has lost 11.52%, making it the most prominent daily loser. It is followed by Bitcoin Gold’s loss of 7.81% and Compound’s loss of 6.81%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 65.13%. This value represents a 0.17% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization decreased slightly when compared to yesterday, with the market’s current value being $260.59 billion. This value represents a decrease of $2 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• IRS Wants to Track ‘Nefarious’ Privacy Coin and Lightning Transactions (Cointelegraph)
• The Wirecard saga, what comes next and what it means for the crypto space (The Block)
• Authorities Take Down Biggest Criminal Chat Network Yet (Cointelegraph)
• Bank of Japan Will Begin Experimenting With a Digital Yen (Cointelegraph)
• Bitcoin Miners Saw 23% Revenue Drop in June (Coindesk)
• Bitcoin Wallets were Letting People Get Scammed with Faulty Balances (Cryptobriefing)
• Ripple Is Becoming a Dumping Ground for Bitcoin Spam Transactions (Cryptobriefing)
• Six projects score blockchain innovation prizes in European Commission-funded program (The Block)
• Amazon CEO Bezos Now Has More Money Than Bitcoin’s Market Cap (Cointelegraph)
• Tech Entrepreneur Offers Bitcoin Bounty in Campaign Against Vox (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the past day struggling to keep its current level after failing to break $9,251. As the volume increased greatly, Bitcoin managed to approach $9,251 and contest it, but only for a short period of time before falling all the way to $8,935. Its price is now stabilizing at around $9,050.

As we said in our yesterday’s article, traders should be wary of trading Bitcoin just based on its momentum as you never without confirmation. They should rather watch for confirmations or pullbacks and trade those (and those that did had a great trade yesterday).

BTC/USD 4-hour Chart

Technical factors:

• Price is below its 50-period EMA and its 21-period EMA
• Price is between the Lower B.B and the Middle B.B. (20period SMA)
• RSI below the middle point (44.4)
• Increased Volume (Coming back to normal)

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum had quite a bad day, as Bitcoin’s move towards the downside pulled its price down as well, making it leave the ascending trade channel it was in. After falling out of the channel, Ethereum found support in the $225.4 support level, which held up nicely. The price is now moving up, possibly contesting the channel soon.

Ethereum traders should look for an opportunity in trading pullbacks or confirmations from ETH contesting the trend.

ETH/USD 4-hour Chart

Technical Factors:

• Price below the 50-period EMA and the 21-period EMA
• Price at the Middle B.B. (20-period SMA)
• RSI below the middle point (48.8)
• Increased volume (Coming back to normal)

Key levels to the upside          Key levels to the downside

1: $228                                    1: $225.4

2: $240                                    2: $217.7

3: $251.4                                  3: $198

Ripple

The third-largest cryptocurrency by market cap is continuing its path towards the downside by following the descending trading channel. XRP doesn’t have enough volume to tackle any resistance levels, and it seems that it is just bouncing off of the bottom and top channel lines.

There aren’t many XRP trading opportunities at the moment, but traders could sneak in a trade or two tradings this ranging move XRP is performing.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term (and short-term) descending trend
• XRP lacks strong support levels below $0.178
• The upside is guarded by the 21 and 50-period EMA
• Price is at the Middle B.B. (20 SMA)
• RSI is below the middle point (47.9)
• Average (extremely low) volume

Key levels to the upside          Key levels to the downside

1: $0.178                                    1: $0.147

2: $0.19                                    

3: $0.2

 

The cryptocurrency market has spent the day attempting to break its immediate resistance levels. Bitcoin is currently trading for $9,202, which represents an increase of 0.56% on the day. Meanwhile, Ethereum gained 1.57% on the day, while XRP gained 0.66%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Synthetix Network gained 22.77% on the day, making it by far the most prominent daily gainer. Kyber Network (16.35%) and Aave (14.66%) also did great. On the other hand, Celsius has lost 9.71%, making it the most prominent daily loser. It is followed by Compound’s loss of 9.57% and SwissBorg’s loss of 4.86%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 65.30%. This value represents a 0.06% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to yesterday, with the market’s current value being $262.59 billion. This value represents an increase of $3.11 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• PayPal Dabbling in Crypto Could Make BTC a Mainstream Payment Option (Cointelegraph)
• Russia: Bitcoin Activity Rising Despite Strict Law Proposals (Cointelegraph)
• Report: Japanese Blockchain Sector Grows Over 30% Since 2019 (Cointelegraph)
• University of California pays out millions in Bitcoin after ransom attack (Cryptoslate)
• A newly-disclosed flaw found in several popular Bitcoin wallets could let attackers trick users into thinking they got paid (The Block)
• Bitcoin spot market volume fell by over 30% in June while DEXs picked up market share (The Block)
• Monthly volumes for DEXs soared past $1.5 billion to hit all-time high in June (The Block) 
• Lawyers Will Accept Bitcoin for Legal Fees in Washington DC (Cryptobriefing)
• Bitcoin vs. Ethereum: Who Has the Better Monetary Policy (Cryptobriefing)
• Lebanese Pound Falls 50% in Ten Days — Now Worth One Satoshi (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the past day trying to reach above its $9,251 resistance level. As the volume increased, Bitcoin managed to tackle this level, but only for a short period of time. The price didn’t manage to stay above $9,251, and Bitcoin moved below it yet again. It is now consolidating right below it.

Traders should be wary of trading Bitcoin just based on its momentum. They should rather watch for confirmations or pullbacks and trade those.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and its 21-period EMA
• Price is above the Middle B.B. (20period SMA)
• RSI above the middle point (55.5)
• Increased Volume (Coming back to normal)

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum was also ready to move to the upside in the past 24 hours, which it did a bit more successfully than Bitcoin. The second-largest cryptocurrency by market capitalization gathered up buyers and tried to reach higher levels (though not necessarily to break any resistance levels like $240 is too far away. However, it got stopped in its tracks around the $233 mark, where the price hit the newly-formed trend upper line.

Ethereum traders should have an easy time trading within the boundaries of the newly-formed trend.

ETH/USD 4-hour Chart

Technical Factors:

• Price above the 50-period EMA and the 21-period EMA
• Price right above Middle B.B. (20-period SMA)
• RSI above the middle point (52.7)
• Increased volume

Key levels to the upside          Key levels to the downside

1: $228                                    1: $225.4

2: $240                                    2: $217.7

3: $251.4                                  3: $198

Ripple

The third-largest cryptocurrency by market cap is continuing its path towards the downside by following the descending trend line. XRP doesn’t have enough volume to tackle the $0.178 level at the moment, so its moves are either to the downside or right to the resistance level.

There aren’t many XRP trading opportunities at the moment, but most of them are completely straightforward, as they are always accompanied by sharp increases in volume.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend
• XRP lacks strong support levels below $0.178
• The upside is guarded by the 21 and 50-period EMA
• Price in a narrow range between the Middle B.B. (20 SMA) and Lower B.B.
• RSI is below the middle point (47)
• Average (extremely low) volume

Key levels to the upside          Key levels to the downside

1: $0.178                                    1: $0.147

2: $0.19                                    

3: $0.2

 

The cryptocurrency market has had a slow day, with most cryptos seeking consolidation. Bitcoin is currently trading for $9,144, which represents an increase of 0.13% on the day. Meanwhile, Ethereum lost 0.76% on the day, while XRP lost 0.86%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Electroneum gained 16.39% on the day, making it by far the most prominent daily gainer. Elrond (15.22%) and SwissBorg (10.43%) also did great. On the other hand, Flexacoin has lost 16.03%, making it the most prominent daily loser. It is followed by Quant’s loss of 8.69% and Compound’s loss of 7.84%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 65.36%. This value represents a 0.04% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization stayed at almost precisely the same place when compared to yesterday, with the market’s current value being $259.48 billion. This value represents a decrease of $1.76 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bank of America is treating Bitcoin, Ether as “cash,” will let you purchase crypto with credit cards (Cryptoslate)
• CFTC guidance on digital asset’ delivery’ went into effect last week — here’s why it matters (The Block)
• Grayscale Bitcoin Trust Is Screwing Retail (and Institutions) on Fees (Cryptobriefing)
• Blockstream Bug Opened Liquid Network to $16 Million Bitcoin Theft (Cryptobriefing)
• An estimated 1.9 million U.K. residents hold digital assets, according to FCA study (The Block)
• Ethereum Developers Delay Berlin Hard Fork to Stem Client Centralization Concerns (Coindesk)
• The number of crypto whales is rising. Here’s where they’re coming from (Cryptoslate) 
• Nvidia Files Motion to Dismiss $1B Class Action Over Crypto GPU Sales (Cointelegraph)
• Survey Shows 42% of Investors Expect a $15K Bitcoin Price in 2020 (Cointelegraph)
• ETH Scalability Isn’t Going to Be an Issue Soon, Suggests Vitalik Buterin (Cointelegraph) 

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization took another day to find a place at which to consolidate. Low Volume and low volatility gave us a day with seemingly no movement, but the lack of action is more likely produced by the support and resistance levels rather than the absence of Volume. Bitcoin is trading in an extremely tight range, bound by the 50-period moving average to the upside and $9,120 to the downside.

Trading in such a narrow range is impossible for more extended periods, so traders should be aware of any volume increases accompanied by one of these levels being broken.

BTC/USD 4-hour Chart

Technical factors:

• Price is below its 50-period EMA and above its 21-period EMA
• Price above the Middle B.B. (20period SMA)
• RSI near the middle point (48)
• Average Volume

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

The second-largest cryptocurrency by market capitalization retreated to the support level of $225.4 over the course of the day. While the Volume is extremely low, bears seem to be in slight control over Ethereum, which is why the immediate support level is continuously being tested.

Ethereum traders should position their next trade based on the break confirmation (to the upside or downside) of the $225.4 level.

ETH/USD 4-hour Chart

Technical Factors:

• Price below the 50-period EMA and the 21-period EMA
• Price right above Middle B.B. (20-period SMA)
• RSI near the middle point (46)
• Extremely low Volume

Key levels to the upside          Key levels to the downside

1: $228                                    1: $225.4

2: $240                                    2: $217.7

3: $251.4                                  3: $198

Ripple

The third-largest cryptocurrency by market cap is continuing its path towards the downside by following the descending trend line. After failing to regain its position above the $0.178 level, XRP started dropping in price. The price drop was (for now) stopped by the lower Bollinger band. However, any move towards the upside will not only have to tackle the $0.178 level, but the 21-period and 50-period moving averages as well.

There aren’t many XRP trading opportunities at the moment, but most of them are completely straightforward, as they are always accompanied by sharp increases in Volume.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend
• XRP lacks strong support levels below $0.178
• The upside is guarded by the 21 and 50-period EMA
• Price in a narrow range between the Middle B.B. (20 SMA) and Lower B.B.
• RSI is below the middle point (39)
• Lower than average Volume

Key levels to the upside          Key levels to the downside

1: $0.178                                    1: $0.147

2: $0.19                                    

3: $0.2

 

The cryptocurrency market has had a slow day, with most cryptos seeking consolidation after a turbulent weekend. Bitcoin is currently trading for $9,161, which represents an increase of 0.66% on the day. Meanwhile, Ethereum gained 1.02% on the day, while XRP gained 0.12%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, SwissBorg gained 18.17% on the day, making it by far the most prominent daily gainer. Elrond (12.74%) and Flexacoin (10.34%) also did great. On the other hand, The Midas Touch has lost 6.55%, making it the most prominent daily loser. It is followed by Ren’s loss of 5.09% and Bitcoin Gold’s loss of 4.36%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 65.4%. This value represents a 0.15% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization stayed at exactly the same place when compared to yesterday, with the market’s current value being $261.24 billion. This value represents an increase of $1.82 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• The state of crypto debit cards after the Wirecard collapse (The Block)
• Bank of Canada researchers say zero-knowledge proofs are still too immature for CBDC use (The Block)
• Bitcoin Cash (BCH) Hits New All-Time Lows, But Everything’s Not Lost (Cryptobriefing)
• If any of these 3 crypto firms collapse, a “tsunami” will ensue: analyst (Cryptoslate)
• There’s $100 million of BTC on the Ethereum network—and that’s “bearish” for Bitcoin (Cryptoslate)
• Digital Currency Guru of $568M Cyber Fraud Forum Pleads Guilty (Coindesk)
• Researchers Say New Lightning Network Attack Could Create ‘Chaos’ (Cointelegraph)
• Class Action Alleges Visa-Acquired Co Was’ Data Plumbing’ Venmo, Cash App & More (Cointelegraph)
• Switzerland Won’t Amend Tax Law in Regard to Blockchain in Near Future (Cointelegraph)
• Uber Angel Investor: ’99 % of Crypto Projects Are Garbage’ (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization took the time to recover after a pretty volatile weekend. The price surpassed yesterday’s price, but not by much. Even so, the 21-period moving average is tackled, and Bitcoin is now using it as a support rather than a resistance level. However, its moves to the upside were stopped by the 50-period moving average as well as the $9,251 resistance level.

Traders should closely pay attention to how well Bitcoin reacts to immediate support and resistance levels, as well as to the 21-period and 50-period moving averages.

BTC/USD 4-hour Chart

Technical factors:

• Price is below its 50-period EMA and above its 21-period EMA
• Price above the Middle B.B. (20period SMA)
• RSI near the middle point (52)
• Slightly above-average Volume

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum had an interesting day, as its price was not so stagnant. The second-largest cryptocurrency by market cap made a move to the upside in order to confirm breaking of $225.4 to the upside. After this was done successfully, the move got stopped in between the 21-period moving average to the downside and the 20-period SMA to the upside.

Ethereum traders should pay attention to support and resistance levels more than the moving averages, as it seems that Ethereum respects clear horizontal levels a bit more.

ETH/USD 4-hour Chart

Technical Factors:

• Price below the 50-period EMA and above the 21-period EMA
• Price right below Middle B.B. (20-period SMA)
• RSI near the middle point (51)
• Average (low) Volume

Key levels to the upside          Key levels to the downside

1: $228                                    1: $225.4

2: $240                                    2: $217.7

3: $251.4                                  3: $198

Ripple

The third-largest cryptocurrency by market cap had a slow day, even with slightly elevated volume. XRP tried to break the $0.178 resistance level over the course of the day but failed to do so many times. As both 21period EMA and 20-period SMA are currently at the $0.178 level, XRP’s price might slowly go down as these moving average lines lower.

There aren’t many XRP trading opportunities at the moment, but most of them are completely straightforward, as they are always happening with sharp increases in volume. If XRP goes down, It is heavily guarded by the descending line which can be traded off of.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend
• XRP lacks strong support levels below $0.178
• The upside is guarded by the 21 and 50-period EMA
• Price slightly below the Middle B.B. (20 SMA)
• RSI is below the middle point (44)
• Average Volume

Key levels to the upside          Key levels to the downside

1: $0.178                                    1: $0.147

2: $0.19                                    

3: $0.2

 

The cryptocurrency market has had a somewhat turbulent weekend. Most cryptocurrencies’ prices tumbled on Jan 27 as Bitcoin led the move to the downside but quickly started gaining bullish momentum and recovered over the rest of the weekend. Bitcoin is currently trading for $9,103, which represents an increase of 1.64% on the day. Meanwhile, Ethereum gained 2.82% on the day, while XRP gained 1.11%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Bitcoin Gold gained an astonishing 30.57 on the day, making it by far the most prominent daily gainer. Celsius (13.56%) and NULS (13.27%) also did great. On the other hand, Flexacoin has continued extremely bad performance, and is the worst daily performer once again, with a daily loss of 22.66%. It is followed by SwissBorg’s loss of 4.08% and BAT’s loss of 3.72%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 65.25%. This value represents a 0.22% difference to the upside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization stayed at exactly the same place when compared to Friday, with the market’s current value being $259.88 billion. This value represents an increase of $1.52 billion when compared to the value it had on Friday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Whales might be dumping Bitcoin on Grayscale, and a fund manager calls it “very bearish” (Cryptoslate)
• Crypto Cards Affected as U.K. Regulator Suspends Wirecard Subsidiary (Cointelegraph)
• Wright Decision & Paypal Allowing Crypto: Bad Crypto News of the Week (Cointelegraph)
• LocalBitcoins Says Its Transactions From Darknet Markets Dropped 70% (Cointelegraph)
• ‘Blockchain’ and ‘cryptocurrency’ dominate active trademarks in U.S. government database (The Block)
• Vanguard’s Blockchain Platform for Foreign Exchange Will Go Live in Q3 2020 (Coindesk)
• Top Cryptocurrencies Face Trouble as PlusToken Dumps on the Market (Cryptobriefing)
• BitMEX Launching Services for Corporate Customers (Cointelegraph)
• Ripple co-founder: America is “ceding control” to China by regulating only Bitcoin and Ethereum (Cointelegraph)
• At This Rate Grayscale Will Own 3.4% of All Bitcoin by January (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had quite a volatile weekend. It dropped heavily in price on Saturday as a response to the PlusToken Ponzi scheme sell-off. The price reached a low of $8,820 before bouncing back. Bitcoin bulls managed to bring the price back above $9,000 and further until the price has collided with the 4-hour 21-period moving average.

Traders should closely pay attention to how well Bitcoin reacts to immediate support and resistance levels, as well as to the 21-period and 50-period moving averages when recovering from bearish moves or consolidating after bullish moves.

BTC/USD 4-hour Chart

Technical factors:

• Bitcoin is creating lower lows
• Price is below its 21 and 50-period EMA
• Price at the Middle B.B. (20period SMA)
• RSI near the middle point (47)
• Below-average Volume

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum followed Bitcoin’s initiative throughout the weekend and mirrored its moves (with more or less strength). The price drop on Saturday brought the price to the $217.7 support level before slowly returning to its previous levels before the price drop. Ethereum is now fighting for the $225.4 level, which it is currently above.

As mentioned in our previous articles, Ethereum doesn’t have much initiative at the moment except for following Bitcoin’s moves. Traders can use that to either trade within a range while Bitcoin isn’t moving or to trade ETH with the trend as it is (on average) making larger moves in the same direction than Bitcoin.

ETH/USD 4-hour Chart

Technical Factors:

• Price gain stopped by the 21 and 50-period EMA
• Price right below the Middle B.B. (20-period SMA)
• RSI near the middle point (46)
• Average (low) Volume

Key levels to the upside          Key levels to the downside

1: $228                                    1: $225.4

2: $240                                    2: $217.7

3: $251.4                                  3: $198

Ripple

The third-largest cryptocurrency by market cap followed Bitcoin all throughout the weekend (in both its move to the downside and upside) but also followed its descending path. XRP fell right to the descending trend line, which held up nicely and triggered a price bounce. This line has proven itself as strong support. However, XRP fell below the $0.178 in the process, and the price bounce couldn’t bring it back above it.

There aren’t many XRP trading opportunities, but most of them are completely straightforward as they are always happening with sharp increases in Volume.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend
• XRP lacks strong support levels below $0.178
• The upside is guarded by the 21 and 50-period EMA
• Price slightly below the Middle B.B. (20 SMA)
• RSI is below the middle point (43)
• Average Volume

Key levels to the upside          Key levels to the downside

1: $0.178                                    1: $0.147

2: $0.19                                    

3: $0.2

 

The cryptocurrency market has spent the past 24 hours mostly consolidating or being slightly in the green, as the bull initiative wasn’t strong enough to push cryptos (mostly Bitcoin as the “pack leader”) higher. Bitcoin is currently trading for $9,227, which represents an increase of 1.54% on the day. Meanwhile, Ethereum gained 0.92% on the day, while XRP lost gained 1.03%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Compound came back from the biggest daily losers (yesterday) to a daily gain of 13.84 today. Celsius (8.27%) and Ren (8.16) also did great. Flexacoin was by far the worst daily performer, with a loss of 18.09%, then followed by SwissBorg’s loss of 5.38% and Seele-N’s loss of 5.31%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 65.03%. This value represents a 0.1% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization stayed at exactly the same place when compared to yesterday, with the market’s current value being $261.4 billion. This value represents an increase of $0.01 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• At This Rate Grayscale Will Own 3.4% of All Bitcoin by January (Cointelegraph)
• Latest Eth 2.0 Testnet on Track for June Launch (Cointelegraph)
• Telegram Agrees to Pay $18.5M Penalty in SEC Settlement Over Failed TON Offering (Coindesk)
• COVID-19 Ransomware Plagues Canadian Android Users (Cointelegraph)
• Wirecard Files for Insolvency, What Does It Mean for Bitcoin? (Cryptobriefing)
• Paxful has overtaken LocalBitcoins for the first time. What’s behind the P2P flippening? (The Block)
• Ether Is Outperforming Bitcoin in 2020, and There’s More to Come (Cryptobriefing)
• BTC Payments Reportedly Now Disabled for Venezuelan Passport Purchases (Cointelegraph)
• Russia’s Blockchain Voting System Malfunctions Soon After Going Live (Cointelegraph)
• Lobbyist Behind BTC Knockoff AML BitCoin to Plead Guilty (Cryptobriefing)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the past 24 hours trying to recover and re-enter the triangle formation it fell from just a day ago. However, the bottom triangle line, combined with the 21-period moving average, stopped it in its tracks. With that being said, Bitcoin did gain some value on the day. However, that wasn’t enough to pass the $9,251 and confirm the breakthrough. The $9,120 level, which was problematic yesterday, was, however, tackled, and Bitcoin is now sitting strong above it.

Traders should closely pay attention to the future short-term development of Bitcoin. When no major volume spikes happen, Bitcoin is very responsive to its support/resistance levels as well as its moving averages. Traders can use that to their advantage.

BTC/USD 4-hour Chart

Technical factors:

• Triangle Formation re-entering failed
• Price is below its 21 and 50-period EMA
• Price is between the Lower BB and Middle line (20period SMA)
• RSI near the middle point (42)
• Slightly elevated volume

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum bounced back from its lower Bollinger Band and tried to make a move towards the upside, but got stopped in its tracks by the 21 and 50-period moving averages. The second-largest cryptocurrency by market cap seems to have acknowledged these lines and couldn’t make a move past them, therefore returning to a slightly lower price. Ethereum is still trading within a large range, bound by $228 (and $225.4 as stronger support) support level and the moving averages + $240 level to the upside.

If Bitcoin doesn’t make any sharp move, which will prompt Ethereum into moving, traders can take advantage of clear support and resistance levels and trade-off of them.

ETH/USD 4-hour Chart

Technical Factors:

• Price gain stopped by the 21 and 50-period EMA
• Price between the Lower BB and Middle line (20-period SMA)
• RSI near the middle point (43)
• Average Volume

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $260                                     3: $217.7

Ripple

The third-largest cryptocurrency by market cap traded mostly sideways over the course of the day. It managed to bounce off from the lower Bollinger Band and strengthen its position around the $0.183 but failed to even attempt a move towards the upside as the upside seems to be guarded by the descending 21 and 50-period moving averages. However, the good thing is that XRP is stable and does not look like it will drop below $0.178 any time soon.

There aren’t many XRP trading opportunities, but most of them are straightforward as they are always happening with increased volume, and are one-sided and without many retracements. Traders might find a good, simple, and clean trade on XRP/USD here and there.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend
• XRP lacks strong support levels below $0.178
• The upside is guarded by the 21 and 50-period EMA
• Price slightly above the Lower BB
• RSI is below the middle point (42)
• Elevated volume (returning to normal)

Key levels to the upside          Key levels to the downside

1: $0.19                                    1: $0.178

2: $0.2                                      2: $0.147

3: $0.205

 

The cryptocurrency market has spent the past 24 hours, either establishing its current levels or gaining a bit of value. Bitcoin is currently trading for $9,090, which represents a decrease of 5.76% on the day. Meanwhile, Ethereum lost 7.04% on the day, while XRP lost 4.98%.

Daily Crypto Sector Heat Map

Cryptocurrencies below the top50 did the best in the past 24 hours, with Quant gaining 19.69%, Flexacoin 19.53%, and Synthetix Network 13.15%. Seele-N was by far the worst daily performer, with a loss of 22.69%, followed by Compound’s loss of 12.70% and Siacoin’s loss of 10.27%.

  Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 64.93%. This value represents a 0.18% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization decreased greatly when compared to yesterday, with the market’s current value being $261.39 billion. This value represents a decrease of $14.46 billion when compared to the value it had yesterday.

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What happened in the past 24 hours?

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• Australians Can Now Pay for Bitcoin at the Post Office (Cointelegraph)
• Compound (COMP) sees massive surge in on-chain activity despite 23% price slide (Cryptoslate)
• Judge Accepts Craig Wright’s Autism Defense, Says No to Sanctions (Cointelegraph)
• Grayscale Ethereum Trust plunges 50% as institutional investors dump shares (Cryptoslate)
• DEX Volume Breaks All-Time High Amid “Yield Farming” Craze (Cryptobriefing)
• $188 million in ETH tied to PlusToken Ponzi moves for first time since December (The Block)
• Libra-like stablecoins could improve consumer welfare in certain cases, Fed researchers find (The Block)
• Bithumb, one of Korea’s biggest crypto exchanges is appointing Samsung to underwrite its IPO (Cryptoslate)
• Sweden’s Central Bank Releases 98-Page’ Economic Review’ Devoted to CBDC (Cointelegraph)
• New Bill to Outlaw Encryption Without Gov’t Backdoor in US Senate (Cointelegraph)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization spent the past 24 hours falling sharply after not being able to pass the $9,735 level. Bears came into play after bears exhausted themselves on trying to push beyond the immediate resistance of $9,735, which made it easy for them to drastically bring Bitcoin’s price down. The most recent price drop brought it to the $8,980 support level, but Bitcoin quickly recovered to above-$9,000 levels. Bitcoin is trading on increased volume, while its RSI grazed the oversold territory without entering it.

The short-term future of Bitcoin will be decided on how it tackles the $9,120 level (if it ends up above or below it).

BTC/USD 4-hour Chart

Technical factors:

• Triangle Formation broken to the downside
• Price is below its 21 and 50-period EMA
• Price is on top of the Lower BB
• RSI near the oversold territory
• Elevated Volume

Key levels to the upside          Key levels to the downside

1: $9,251                                 1: $9,120

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

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

Ethereum

Ethereum lost quite a bit of its value as well (in fact, even more than Bitcoin). The second-largest cryptocurrency by market cap dropped from the high of $250 all the way down to $227. It is currently trying to find a spot to consolidate at (the most probable consolidation price would be around $230). Ethereum is currently trading on elevated volume, with its RSI dropping to below-40 levels.

ETH/USD 4-hour Chart

Technical Factors:

• Price below 21 and 50-period EMA
• Price just above the Lower BB
• RSI under the value of 40
• Elevated Volume

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $260                                     3: $217.7

Ripple

Just taking a look at the XRP/USD chart, we can see that the third-largest cryptocurrency by market cap has an extremely bearish outlook. XRP followed the overall crypto market trend and dropped in price in the past 24 hours, therefore losing the opportunity to contest (and possibly pass) the $0.19 resistance level. However, XRP did not fall under its $0.178 resistance, as the buying pressure was strong enough to hold the bears. XRP is currently recuperating from the drop at the $0.18 level.

XRP/USD 4-hour Chart

Technical factors:

• XRP in a mid-term descending trend
• XRP lacks strong support levels below $0.178
• Price is below its 21 and 50-period EMA
• Price is on top of the Lower BB
• RSI in the oversold territory
• Elevated Volume

Key levels to the upside          Key levels to the downside

1: $0.19                                    1: $0.178

2: $0.2                                      2: $0.147

3: $0.205

 

The cryptocurrency market has spent the past 24 hours, either establishing its current levels or gaining a bit of value. Bitcoin is currently trading for $9,639, which represents an increase of 0.36% on the day. Meanwhile, Ethereum gained 2.69% on the day, while XRP gained 0.87%.

DxChain Token took the position of today’s biggest daily gainer, with gains of 21.87%. Compound lost 17.50% of its daily value, making it the biggest daily loser.

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 65.11%. This value represents a 0.17% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization increased slightly when compared to yesterday, with the market’s current value being $275.85 billion. This value represents an increase of $2.66 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Is Italy implementing a digital Euro?

The Italian Banking Association has announced its willingness to support the implementation of a digital Euro. The IBA had approved guidelines governing its position on the digital currency as well as central bank digital currencies in general.

The ABI announced that monetary stability, as well as respecting regulations related to a digital Euro, are two of its top priorities.

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Technical analysis

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Bitcoin

The largest crypto by market capitalization spent the past 24 hours mostly stabilizing around the $9,600 level after taking over the $9,580 resistance (now support) level. The support level got tested and held up a couple of times, confirming that Bitcoin will (for the time being) trade within a range bound by it as well as the $9,735 resistance level.

Bitcoin’s volume is slowly decreasing while its RSI level is reaching the value of 60.

Key levels to the upside          Key levels to the downside

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

2: $9,870                                 2: $9,251

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

Ethereum

Unlike Bitcoin, Ethereum spent the day reaching for new highs and trying to get to the $251.4 resistance level. The second-largest cryptocurrency by market capitalization managed to increase its value by over 2% on the day. Its volume is, however, lowering, while its RSI level on the 4-hour chart crossed into overbought territory. This might indicate a pause in the bullish move until Ethereum gathers enough strength to attempt a breakthrough the $251.4 resistance.

Key levels to the upside          Key levels to the downside

1: $251.4                                 1: $240

2: $260                                    2: $228

3: $225.4

Ripple

While XRP did not gain much percentage-wise, its move towards the upside is an extremely important one. The third-largest cryptocurrency by market cap is trying to get back above the $0.19 level, which will determine its position in the short-term. While the move initially moved above the resistance, XRP’s RSI is approaching overbought, while its volume is decreasing, signifying exhaustion.

Key levels to the upside          Key levels to the downside

1: $0.19                                      1: $0.178

2: $0.2                                  

3: $0.205

 

The crypto market has spent the past 24 hours testing (and surpassing) its immediate resistance levels. Bitcoin is currently trading for $9,605, which represents an increase of 2.21% on the day. Meanwhile, Ethereum gained 3.06% on the day, while XRP gained 0.06%.

DigiByte took the position of today’s biggest daily gainer, with gains of 24.92%. Flexacoin lost 15.62% of its daily value, making it the biggest daily loser.

Bitcoin’s dominance level stayed at the same place since our last report, with its value currently at 65.28%. This value represents a 0.05% difference to the upside when compared to yesterday’s value.

The cryptocurrency market capitalization increased when compared to yesterday, with the market’s current value being $273.19 billion. This value represents an increase of $7 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Bitcoin defender or a scammer? Bitcoin name logo trademarked

The Bitcoin name and logo have been trademarked in Spain by Ignacio Rubio Menéndez, a compliance expert and lawyer. He explained that he now owns the logo and the word ‘bitcoin’ that is registered at the national level. When asked why he bothered with doing this, he explained that he wants to protect Bitcoin, at least in Spain. He claims he will stand up to anyone that will try to abuse the logo or the name of the cryptocurrency he bases his business on.

Whether he will use his (now) right justly or abuse it, only time will tell.

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Technical analysis

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Bitcoin

The largest crypto by market capitalization spent the past 24 hours testing its immediate resistance level of $9,580. In fact, there was no actual “testing,” as Bitcoin skyrocketed and went past the resistance level in an instant. The move passed through $9,735 as well, but quickly came back below it. Bitcoin is now trying to find a price to consolidate at, and it will most likely test $9,580 as a support level.

Key levels to the upside          Key levels to the downside

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

2: $9,870                                 2: $9,251

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

Ethereum

Ethereum followed in the footsteps of Bitcoin and used the momentum it created to push its price past the $240 level. On top of that, the price gain it made surpassed Bitcoin by half a percent. The second-largest cryptocurrency by market cap stopped its bullish move at around $247 and then started consolidating slightly below that price. The $240 level will be tested in the near future, so traders can expect a solid and easy trade, in whichever direction ETH goes.

Key levels to the upside          Key levels to the downside

1: $251.4                                 1: $240

2: $260                                    2: $228

3: $225.4

Ripple

Unlike Bitcoin and Ethereum, XRP did not have such a good day. While the price technically did end up in the green when compared to 24 hours ago, the price gain is negligible. The third-largest cryptocurrency by market cap didn’t have enough buying pressure to pass the $0.19 resistance level it fell under a couple of days ago.

XRP’s volume is extremely low, meaning that traders don’t really have many opportunities to trade it.

Key levels to the upside          Key levels to the downside

1: $0.19                                      1: $0.178

2: $0.2                                  

3: $0.205

 

The crypto market has spent the past weekend being quite stable. Bitcoin is currently trading for $9,351, which represents a decrease of 0.08% on the day. Meanwhile, Ethereum gained 1.25% on the day, while XRP lost 0.08%.

Compound took the position of today’s biggest daily gainer, with gains of 14.26%. Golem lost 9.21% of its daily value, making it the biggest daily loser.

Bitcoin’s dominance level stayed at the same place since our last report, with its value currently at 65.23%. This value represents a 0.04% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization stayed at almost the same place as yesterday, with the market’s current value being $266.19 billion. This value represents a decrease of $1.78 billion when compared to the value it had yesterday.

What happened in the past 24 hours

COVID-19 testing on blockchain

Blockchain tracking platform called VeChain made a Twitter announcement on June 20, saying that its blockchain-based platform that performs medical data management has gone live, and that it will store COVID-19 testing results. The platform, called E-NewHealthLife, was deployed in and for the Mediterranean Hospital in the Republic of Cyprus.

Cyprus citizens who go to this hospital’s COVID-19 laboratory will have their medical as well as test records on the blockchain.

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Technical analysis

_______________________________________________________________________

Bitcoin

The largest crypto by market capitalization spent the weekend moving within a range, bound by the support level of $9,251 and the resistance level of $9,580. The support level was tested a couple of times over the weekend, but there was no real initiative in breaking it to the downside.

Bitcoin’s volume is slowing down and reducing while its RSI level is rising slightly (52).

Key levels to the upside          Key levels to the downside

1: $9,580                                 1: $9,251

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

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

Ethereum

Unlike Bitcoin, Ethereum wasn’t so static over the weekend. While the second-largest cryptocurrency did start the weekend slowly, the most recent volume increase and price spike show its potential to possibly approach the $240 level. However, it is unlikely that Ethereum will pass the level by itself (without the help of Bitcoin), so traders can watch what Bitcoin does and trade accordingly.

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $198                                    3: $217.6

Ripple

The third-largest cryptocurrency by market cap has broken its immediate support level of $0.19 on Friday, and has maintained its position over the weekend. Even though XRP managed to gain some value in the past hours, it is still extremely unlikely that it will go above the $0.19 resistance level.

XRP’s volume is extremely low, while its RSI level increased to 48.

Key levels to the upside          Key levels to the downside

1: $0.19                                      1: $0.178

2: $0.2                                  

3: $0.205

 

The crypto market has spent the past 24 hours being on a slow downward-facing path. Bitcoin is currently trading for $9,336, which represents a decrease of 0.69% on the day. Meanwhile, Ethereum lost 1.46% on the day, while XRP lost 1.37%.

Aave took the position of today’s biggest daily gainer, with gains of 26.09%. SwissBorg lost 16.61% of its daily value, making it the biggest daily loser.

Bitcoin’s dominance level stayed at the same place since our last report, with its value currently at 65.27%. This value represents a 0.01% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization stayed at almost the same place as yesterday, with the market’s current value being $266.19 billion. This value represents a decrease of $1.78 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Russia lifting ban on Telegram

After many years of unsuccessful efforts to ban Telegram in Russia, the local authorities have finally decided to fully cancel the ban. Russia’s Federal Service for Supervision of Communications, IT, and Mass Media, better-known as Roskomnadzor, has lifted the two-year-long ban imposed on Telegram.

The authority has removed requirements that restrict the access to the Telegram messenger in an agreement with the Prosecutor General of Russia.

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Technical analysis

_______________________________________________________________________

Bitcoin

The largest crypto by market capitalization spent the past 24 hours slowly moving towards the downside, ultimately testing its support level of $9,251. The bullish trend that Bitcoin was in (on the 1-day chart) was broken to the downside with the most recent Bitcoin drop. In order for BTC movements to still be considered bullish in the long run, its price needs to be above 9,120 on June 30. On the other hand, even though the outlook is not exactly bullish at the moment, Bitcoin seems to have some good support in its $9,251 level as well as the 1-day 50-period moving average.

If, on the other hand, Bitcoin makes a higher high at above $10,500, bull run will be almost certain, and people should consider pulling more of their portfolio into crypto.

Key levels to the upside          Key levels to the downside

1: $9,580                                 1: $9,251

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

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

Ethereum

Ethereum keeps creating lower highs and slowly moving lower throughout the day. The second-largest cryptocurrency by market cap is on its way to test the $228 once again. As this support level is a new one, it might not hold as well, and the price is likely to fall towards $225.4 level.

Ethereum’s long-term outlook will greatly depend on how Bitcoin moves, so there is no reason to discuss it at the moment.

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $198                                    3: $217.6

Ripple

XRP has also spent the day slowly moving to the downside, but with one major difference. The third-largest cryptocurrency by market cap has, unlike Bitcoin and Ethereum, broken its immediate support level. While the $0.19 support level isn’t completely beaten and there is still time for the price to recover, it is likely that the price will remain below it due to the lack of volume and initiative when it comes to either buying or selling XRP 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

 

The crypto market has spent the past 24 hours testing its support levels after failing to break the resistance levels during yesterday’s price increase. Bitcoin is currently trading for $9,412, which represents a decrease of 0.62% on the day. Meanwhile, Ethereum lost 0.71% on the day, while XRP lost 1.37%.

SwissBorg took the position of today’s biggest daily gainer, with gains of 31.95%. DigiByte lost 7.95% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance stayed at the same place since our last report, with its value currently at 65.28%. This value represents a 0.04% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization stayed at the same place as yesterday, with the market’s current value being $267.97 billion. This value represents a decrease of $0.02 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Binance Pool mining the most Bitcoin SV – Why?

Only a year after removing Bitcoin SV from its exchange, news came out that Binance (through its Binance Pool) produces more Bitcoin SV blocks through mining than any other pool. Many people would jump to the conclusion that Binance knows something we don’t, but that really isn’t the case.

Even though Binance Pool is undoubtedly the largest miner of Bitcoin Satoshi’s Vision blocks at the moment (with 26.39% of total Bitcoin SV mining on June 17), it is not Binance who is mining them, but rather the users of the Pool. However, Binance is profiting from the mining operations by imposing a 2.5% pool fee. That being said, it is highly unlikely that Binance will return Bitcoin SV to its exchange, or that its stance on the controversial coin changed.

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Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the past 24 hours testing its support levels, right after failing to break the $9,580 resistance. While the $9,251 level showed strength, bouncing the price back immediately, Bitcoin is still moving down slightly. If nothing changes in terms of volume and market sentiment in general, Bitcoin might have another go at testing this support level.

Bitcoin’s volume has decreased slightly when compared to the previous days, while its RSI level is at 50.

Key levels to the upside          Key levels to the downside

1: $9,580                                 1: $9,251

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

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

Ethereum

Ethereum made the same move as Bitcoin and had no initiative when it came to a non-correlated movement today. After failing to reach its resistance level of $240, ETH started moving towards the downside. It, however, got stopped by the (possibly) new support level of $228, bouncing the price slightly up towards $235. The price stopped after reaching $235 and started moving sideways, possibly threatening the downside once again.

Key levels to the upside          Key levels to the downside

1: $240                                    1: $228

2: $251.4                                 2: $225.4

3: $198                                    3: $217.6

Ripple

XRP had a slightly different movement when compared to BTC and ETH, but with the same sentiment. The third-largest cryptocurrency by market cap failed to reach $0.2 successfully, therefore making the possibility of breaking the resistance almost none-existent in the short-term. This triggered the bears to test the support level of $0.19, which (after some fighting) managed to hold its position. XRP is now trading just above the support line, preparing for the next move.

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

 

The crypto market has taken its time to consolidate throughout the day, as well as possibly test nearest resistance levels. Bitcoin is currently trading for $9,447, which represents an increase of 0.56% on the day. Meanwhile, Ethereum gained 1.6% on the day, while XRP lost 0.07%.

SwissBorg took the position of today’s biggest daily gainer, with gains of 30.87%. DigiByte lost 6.96% 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 65.32%. This value represents a 0.2% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization increased over the course of the day, with the market’s current value being $267.99 billion. This value represents an increase of $2.35 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Craig Wright called a liar or a thief by Mark Karpeles

Former CEO of Mt. Gox Mark Karpeles claims that the 80,000 Bitcoin that Dr. Craig Wright lays claim to was actually stolen from the Mt. Gox exchange in March 2011. This claim isn’t just empty words, as cryptocurrency experts side with Karpeles. The Bitcoin residing at one of the addresses that Craig Wright listed among the numerous addresses he supposedly owns was stolen from Mt. Gox.

Karpeles said, “This was confirmed in 2011, and records are a part of court documents available publicly.”

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Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the past 24 hours trying to consolidate above $9,251 as well as to test the $9,580 resistance level for a brief amount of time. The resistance was strong, and Bitcoin couldn’t break it, which continued its consolidation within a range bound by $9,251 and $9,580.

Bitcoin’s volume decreased after the recovery bull run ended, while its RSI level currently stagnates at around 51.

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

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

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

Ethereum

Ethereum seems to have had a solid day, not only recovering from the plunge but slowly rising in price as well. However, the most recent sentiment shows that bears are testing how far they can go. Whether bears manage to drive ETH’s price down a bit or not, there’s still a long way until the $225.4 support level.

Ethereum’s volume lower and lower as the time passes, while its RSI level hovers below the value of 50.

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 had a decent day as well, as the price drop ended after the price hit the red descending line and bounced from it. The third-largest cryptocurrency by market cap managed to get back above $0.19 (which is, as we mentioned yesterday, a big deal for XRP) and consolidate above it. The line got tested once, without much success for the bears.

XRP’s volume is a bit below the weekly average (after excluding the volume bumps for upward and downward spikes), while its RSI level is just below 50.

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

 

The crypto market has taken the day to restore its price level to the pre-drop of June 15. Bitcoin is currently trading for $9,386, which represents an increase of 1.46% on the day. Meanwhile, Ethereum lost 0.05% on the day, while XRP gained 1.85%.

Verge took the position of today’s biggest daily gainer, with gains of 21.03%. Flexacoin lost 13.05% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance stayed at exactly the same place since we last reported, with its value currently at 65.52%. This value represents a 0% difference when compared to yesterday’s value.

The cryptocurrency market capitalization increased over the course of the day, with the market’s current value being $265.64 billion. This value represents an increase of $11.37 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Bitcoin whales returning to pre-December 2017 pump levels

The number of investors that are holding an immense amount of Bitcoin (otherwise known as Bitcoin whales) is starting to approach the level that the crypto community hadn’t seen since the 2017 levels when Bitcoin rallied to $20,000.

According to Glassnode’s report dating June 15, we can see steady growth in the number of Bitcoin whales (traders holding over 1000 BTC) since April 2019.

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization managed to return to its pre-price drop level, reaching back above $9,000. Bitcoin has skipped the $9,120 and $9,251 levels as well, currently stabilizing between $9,251 and $9,580.

Bitcoin’s volume increased during the rally but returned to the previous levels, while the RSI level increased to 50.

Key levels to the upside                    Key levels to the downside

1: $9,580                                           1: $9,120

2: $9,735                                           2: $9,251

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

Ethereum

Ethereum also had a correction over the day, bouncing above the $225.4 and trying to consolidate. However, the price action looks like the $225.4 level will be tested to the downside. If it stays strong, traders will have a chance to possibly enter a strong position towards the upside from there.

Ethereum’s volume increased both during the price spike as well as in general. Its RSI level is currently at 43.5.

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 moved back above the $0.19 during the day, which represents a great bullish sign for it. Unlike with Bitcoin and Ethereum, XRP doesn’t have many support levels below $0.178, and dropping below it would be extremely bearish. However, the recent price increase returned XRP’s price to pre-price drop levels.

XRP’s volume returned to average after a slight increase due to the price increase, while its RSI level came to 50.

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                                          

 

The crypto market has been relatively stable over the weekend only to drop in the past couple of hours. Bitcoin fell under $9,000, which brought other cryptos’ prices down. Bitcoin is currently trading for $8,962, which represents a decrease of 4.47% on the day. Meanwhile, Ethereum lost 6.13% on the day, while XRP lost 4.34%.

Flexacoin took the position of today’s biggest daily gainer, with gains of 18.57%. Loopring lost 17.68% 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 65.52%. This value represents a 0.24% difference to the upside when compared to Friday’s value.

The cryptocurrency market capitalization decreased over the course of the weekend, with the market’s current value being $254.27 billion. This value represents a decrease of $10.24 billion when compared to the value it had on Friday.

What happened in the past 24 hours

Bitcoin transaction fee average decreased by 91%

The average fee for Bitcoin transactions has dropped under the $1 mark, meaning it is back to levels previously seen only before the Bitcoin reward halving.

According to data shown by the crypto analytics website BitInfoCharts, Bitcoin transaction fees decreased by 91% from May 20 until June 14. With the fees going down from $6.65 to $0.56, we can certainly see the improvement in the tx fee department of Bitcoin.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization had a slow weekend of consolidation after the 11 June price drop. While many analysts were suggesting a bull run, Bitcoin dropped in price yet again, this time below $9,000. The move reached $8,900 before stabilizing between $9,980 and $9,120 level.

Bitcoin’s volume seems to be following a pattern of decreasing its volume from day to day until a spike happens, which brings its volume up.

Key levels to the upside                    Key levels to the downside

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

2: $9,251                                           2: $8,820

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

Ethereum

Ethereum has been pretty stable over the weekend and had low volatility as well as volume. Bitcoin’s move towards the downside dragged it down as well, pulling the price down to $217 levels. The $217.6 level held greatly, stopping the bearish move in its tracks.

Ethereum’s volume increased from almost non-existent to almost the levels of the June 11 price drop.

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 spent the weekend performing slightly worse than the aforementioned Ethereum and Bitcoin, slowly losing value as it went towards the $0.19 level. However, the most recent price drop brought its price to $0.182 levels, where it was stopped by the long-term descending trend line.

XRP’s volume increased slightly as the bearish move occurred, while its RSI level entered the oversold territory.

Key levels to the upside                    Key levels to the downside

1: $0.19                                             1: $0.178

2: $0.2 

3: $0.205                                          

 

The crypto market has plunged over the course of the day, bringing the overall crypto market to a two-week low point. Bitcoin is currently trading for $9,337, which represents a decrease of 5.51% on the day. Meanwhile, Ethereum lost 6% on the day, while XRP lost 5.61%.

DigiByte took the position of today’s biggest daily gainer, with gains of 5.14%. Loopring lost 20.86% 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 65.28%. This value represents a 0.6% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization decreased greatly over the course of the day, with the market’s current value being $264.51 billion. This value represents a decrease of $16.72 billion when compared to the value it had yesterday.

What happened in the past 24 hours

500 Crypto Companies in Estonia losing their permits

Estonia is one of the European Union’s most crypto-friendly countries when it comes to regulation. However, due to the $220 billion scandal regarding money laundering through crypto, Estonia started cracking down on many licensed cryptocurrency companies. So far, over 500 companies have lost their permits.

Honorable Mention

Cryptocurrency exchange powerhouse Binance has just launched a new Bitcoin futures product. The launch came through despite institutional investors visibly showing uncertainty about the future of cryptocurrencies.

In a blog post that came directly from Binance on June 11, the company revealed its quarterly futures contracts product is going live. The first contracts will have a settlement due in September.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has spent the day plunging to its two-week lows, falling as low as $9,070. The $9,251 line has, however, held up, and BTC is now consolidating above it. The downward-facing move should be over for now as RSI stepped into oversold while the volume faded.

Bitcoin’s volume increased multiple-fold over the course of the price dump but has since returned to its average levels.

Key levels to the upside                    Key levels to the downside

1: $9,580                                           1: $9,251

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

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

Ethereum

Ethereum followed Bitcoin’s initiative to move towards the downside and fell as low as $225. However, the $225.4 support line held up and stopped the move from going any further. Ethereum has recovered slightly and is now trading at a $233 level.

Ethereum’s volume increased drastically during the peak of the move but has since returned to normal. Its RSI level has entered the oversold territory but has (again) returned above it once the pressure faded.

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 did not stray away from other cryptocurrencies in terms of market direction. The third-largest cryptocurrency by market cap has broken the range it was trading in for a long time as it fell below the $0.2 support level. The downward-facing move reached $0.184 before going up. XRP is still trying to find equilibrium and a place to consolidate at, and it is still uncertain whether that will be above or below the $0.19 level.

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                                          

 

The crypto market has spent the day with increased volatility as Bitcoin was trying to pass the $10,000 mark.  While the level got rejected once again, the price increase did happen. Bitcoin is currently trading for $9,941, which represents an increase of 1.69% on the day. Meanwhile, Ethereum gained 2.18% on the day, while XRP gained 0.81%.

Aave took the position of today’s biggest daily gainer, with gains of 20.26%. WAX lost 20.34% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance increased since we last reported, with its value currently at 65.34%. This value represents a 0.14% difference to the upside when compared to yesterday’s value.

The cryptocurrency market capitalization increased slightly over the course of the day, with the market’s current value being $281.26 billion. This value represents an increase of $3.57 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Are Chinese bank accounts getting frozen by the government?

Almost 4,000 Chinese bank accounts have reportedly been frozen by the local government due to cryptocurrency trading. According to a report published on Monday, the Chinese police force froze the bank accounts of thousands of OTC traders from the Chinese province of Guangdong.

The report stated that the authorities started freezing bank accounts on Thursday. While the law enforcement is claiming that they are freezing only accounts tied to illicit activities, retail investors saw their bank account frozen after buying cryptocurrency on credible crypto exchanges.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has spent the day preparing for a move towards the upside. The price attempted to break the $10,000 threshold several times, each time being unsuccessful. However, even though the price point got rejected, Bitcoin gained some value and managed to pass $9,870 (which is being tested at the time of writing).

If Bitcoin manages to pass $10,000, it can face resistance above the $10,300 level.

Key levels to the upside                    Key levels to the downside

1: $10,010                                         1: $9,870

2: $10,355                                         2: $9,735

                                                           3: $9,580

Ethereum

Ethereum also made a move towards the upside while attempting to break its resistance level of $251.4. While the break is (so far) unsuccessful, it seems like the second-largest cryptocurrency by market cap has strong support in both the $240 level and the 21-period moving average, which means that the price will not dramatically fall without a fight.

Ethereum’s volume increased drastically during the peak of the move towards the upside but started to fade as the $251.4 level kept resisting.

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 stayed in its tight range over the course of the day, bound by the $0.2 support and $0.205 resistance level. While its price increased slightly, XRP didn’t make a determined move towards the upside (like Bitcoin and Ethereum did).

While scalp traders might enjoy the ranging moves, a confirmed break to either the upside or downside will benefit any trader as the move would most likely be easy to spot and profit from.

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 without much movement and with low volatility.  Bitcoin is currently trading for $9,737, which represents an increase of 0.54% on the day. Meanwhile, Ethereum gained 0.18% on the day, while XRP lost 0.78%.

Swiss Borg took the position of today’s biggest daily gainer, with gains of 18.23%. HedgeTrade lost 7.87% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance decreased since we last reported, with its value currently at 65.20%. This value represents a 0.92% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization increased slightly over the course of the day, with the market’s current value being $277.69 billion. This value represents an increase of $1.61 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Crypto Ransomware Cartel?

Ransomware attacks started happening all over the world recently. They were performed by well-known cybercriminal groups, which are reportedly teaming up and creating cartel-style alliances, all with the idea to pressure their respective victims into paying the ransom requests.

The central feature to show that this is happening is that the gang notes that Ragnar Locker, which is a ransomware group, provided this info, as the title of the blog post they have posted says: “MAZE CARTEL Provided by Ragnar.”

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has spent the day without much movement. As we noted yesterday, the $9,735 level was breached to the downside but was not confirmed (the lack of confirmation made us think that the move might be corrected soon). Bitcoin regained its price as well as the $9,375 level. There aren’t many opportunities for traders at the moment, but scalp traders might use the fact that Bitcoin is fluctuating around $9,735 and testing support and resistance levels above and below it.

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 no movement throughout the day, as it stayed within a one-dollar range. The second-largest cryptocurrency by market capitalization is secured by the 21-period moving average on its downside, while it has absolutely no volume to even try to test the upper levels.

Ethereum’s volume is extremely low while its RSI level is flat for a couple of days, sitting at 53.

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 slowly moved towards the $0.2 downside and tested the level after failing to break $0.205 due to the lack of volume. The third-largest cryptocurrency by market cap is in an inverse spot to Ethereum, as both the 21-period and 50-period moving averages are guarding the upside rather than the downside. XRP will require a substantial increase in volume in order to break this range. On top of that, unless it gets “pulled” up by Bitcoin or fundamentals, XRP is most likely to go under $0.2.

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 mostly with low volatility, except for the past few hours when the price bounced up and down quickly before returning to its original values.  Bitcoin is currently trading for $9,700, which represents a decrease of 0.56% on the day. Meanwhile, Ethereum lost 0.04% on the day, while XRP gained 0.16%.

Kyber Network took the position of today’s biggest daily gainer, with gains of 9.7%. Divi lost 23.7% 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 66.12%. This value represents a 0.87% difference to the upside when compared to yesterday’s value.

The cryptocurrency market capitalization decreased slightly over the weekend, with the market’s current value being $276.08 billion. This value represents a decrease of $0.24 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Bitcoin soon at $75,000?

Bitcoin analysis from Timothy Peterson (Cane Island Alternative Advisor) shows a strong possibility of BTC going to $75,000. The analysis is based on finding an uncanny similarity to Bitcoin’s chart movement in 2013. Peterson called this similarity “almost perfect.”

Peterson tracked Bitcoin’s price recovery from its 3,600 lows from mid-March, which (as he noted) looks almost exactly like the price action from seven years ago. If the price action from seven years ago can be translated into the future, Bitcoin should move 700% to the upside, giving it a price of around $75,000.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has spent the day mostly without any large price fluctuations. The market has been slow except for one single candle which tried to break both the upside and downside key levels but failing to do either completely.

Bitcoin’s volume is on the same levels as over the past week, while its RSI level fell to 50. The key level of $9,735 will be moved to the “upside” once the break is confirmed.

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 quite a slow day as well, with its price making a move only in a recent couple of candles. While one candle was strictly bullish, the other one had large wicks to both the upside and downside. The 21-period moving average seems to be holding the price quite well.

Ethereum’s volume increased in the past few candles, while its RSI level came down to 54.

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 made a move towards the upside and spent the whole day trying to break the $0.205 resistance level. However, the move was unsuccessful, triggering a severe drop, which even broke the $0.2 support level for a few minutes. However, the bulls came back almost instantly and picked up where they left off, threatening the $0.205 resistance level once again.

A break above $0.205 with an increase in volume (or a confirmation of breaking $0.205) could be a good trading opportunity for scalp traders.

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 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

_______________________________________________________________________

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