Tag: Ripple

While most of the top cryptocurrencies took the day to consolidate or advance slightly, Ethereum tokens were the most volatile and moved up or down with much more intensity. Bitcoin is currently trading for $11,835, which represents an increase of 0.56% on the day. Meanwhile, Ethereum gained 1.39% on the day, while XRP gained 1.01%.

 Daily Crypto Sector Heat Map

When taking a look at top100 cryptocurrencies, OMG Network gained 106.88% on the day, making it the most prominent daily gainer. 0x (48.58%) and Flexacoin (42.15%) also did great. On the other hand, Ren lost 14.05%, making it the most prominent daily loser. It is followed by Reserve Rights’ loss of 7.07% and Waves’ drop of 6.93%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has decreased slightly and went under the 60% mark yet again, with its value currently at 59.74%. This value represents a 0.7% difference to the downside when compared to our last report.

Daily Crypto Market Cap Chart

The cryptocurrency market cap experienced a sharp increase in value over the course of the day. Its current value is $373.17 billion, which represents an increase of $9.41 billion when compared to our previous report.

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What happened in the past 24 hours?

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• Tether is moving 1 billion USDT coins from TRON to Ethereum blockchain (The Block)
• Ripple exec says 20% of RippleNet transactions occur using XRP (The Block)
• ETC Labs proposes a multi-stage plan for securing Ethereum Classic against 51% attacks (The Block)
• Lightning Labs activates Wumbo channels, increasing bitcoin payment channel capacity (The Block)
• Swiss firm raises $15M to build out DeFi data platform (The Block)
• Investors pinpoint DeFi insurance as the next big thing—YFI keeps surging (Cryptoslate)
• DeFi yield farming is an “unsustainable zero-sum game”: Ethereum innovator (Cryptoslate)
• INX Crypto Exchange to Launch $117M IPO Next Week (Coindesk)
• Grayscale: Bitcoin Market ‘Looks Like 2016, Before Historic Bull Run’ (Cointelegraph)
• Shock: Ethereum Miners Against Proposal to Reduce Block Rewards by 75% (Cointelegraph)

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Technical analysis

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Bitcoin

After a failed breakout of the ascending triangle, Bitcoin’s price started moving down sharply towards $11,630. The move, as we noted in our previous articles, stopped there. Bitcoin spent the past 24 hours mostly consolidating after a brief moment of bullish presence, which brought its price above $11,800 levels.

This move towards the upside, no matter how small it is, shows that Bitcoin is in a great spot at the moment, and it would take a lot to shake it out of this extremely bearish mid-term position.

BTC traders should be looking for a trade above $12,000, or after the push towards it fails.

BTC/USD 4-hour Chart

Technical factors:

• Price is at its 50-period EMA and below its 21-period EMA
• Price slightly below its middle band
• RSI is neutral (48.45)
• Volume is average (descending)

Key levels to the upside          Key levels to the downside

1: $12,015                                1: $11,630

2: $12,300                                2: $11,460

3: $12,900                                 3: $11,090

Ethereum

Ethereum spent the day struggling at the $415 level, as the fight for whether it will end up above or below the level is still continuing. The second-largest crypto by market cap recovered from its drop to $395 after hitting a semi-descending line, which acted as support/resistance since Aug 5.

This fight for $415 clearly shows the fight between two mindsets: bulls who are extremely bullish when it comes to DeFi and everything related, and bears which are scared of the skyrocketing ETH transaction fees as well as of the ICO scenario that happened around 2017.

Ethereum traders should wait for ETH to establish itself above or below $415 before trading.

ETH/USD 4-hour Chart

Technical Factors:

• Price is currently at its 21-period and its 50-period EMA
• Price is at its middle band
• RSI is neutral (47.15)
• Volume is slightly below average

Key levels to the upside          Key levels to the downside

1: $415                                     1: $400

2: $445                                     2: $361

3: $496                                      3: $340

Ripple

XRP’s chart looks a lot like BTC’s chart in the past couple of days. The third-largest cryptocurrency by market cap stopped moving towards the downside after hitting $0.285, which held up quite nicely. XRP then got a small boost towards the $0.29, where it is now consolidating.

With both 21-period and 50-period moving averages right above the price, XRP would require a strong bullish initiative in order to move towards $0.31, which (at the moment) seems unlikely.

Traders can look for an entry within the range between $0.285 and $0.31.

XRP/USD 4-hour Chart

Technical factors:

• Price is currently below the 21-period and 50-period EMA
• Price is slightly below the middle band
• RSI is neutral (46.15)
• Volume is descending (approaching average)

Key levels to the upside          Key levels to the downside

1: $0.31                                     1: $0.285 

2: $0.32                                     2: $0.266

3: $0.332                                  3:$0.2454

 

While most of the top cryptos had a slightly red day, Ethereum tokens mostly did great. Bitcoin is currently trading for $11,732, which represents a decrease of 0.25% on the day. Meanwhile, Ethereum lost 1.26% on the day, while XRP lost 1.24%.

 Daily Crypto Sector Heat Map

When taking a look at top100 cryptocurrencies, OMG Network gained 26.67% on the day, making it the most prominent daily gainer. yearn.finance (20.13%) and Qtum (10.04%) also did great. On the other hand, Balancer lost 19.84%, making it the most prominent daily loser. It is followed by Compound’s loss of 9.50% and Waves’ drop of 8,97%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has increased slightly and passed the 60% mark, with its value currently at 60.44%. This value represents a 0.77% difference to the upside when compared to our last report.

Daily Crypto Market Cap Chart

The cryptocurrency market cap experienced a slight increase in value over the course of the day. Its current value is $364.76 billion, which represents an increase of $0.56 billion when compared to our previous report.

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What happened in the past 24 hours?

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• High Ethereum Fees Push Tether to Its Eighth Blockchain, OMG Network (Coindesk)
• Market Wrap: Bitcoin Sinks to $11.6K as Ether’s Gas Keeps Rising (Coindesk)
• Litecoin has massive fundamentals lined up ahead, says Charlie Lee (Cryptoslate)
• Investors pour in $400 million into YAM, a “dead” Ethereum DeFi project (Cryptoslate)
• Bitcoin derivatives data shows the institutional “herd” is finally here: fund manager (Cryptoslate)
• Coinbase Announces Four Key Requirements for Listing DeFi Tokens (Cryptobriefing)
• Roger Ver Tells Disgruntled Bitcoin Cash Faction to Buy Dash (Cryptobriefing)
• UK regulator adds Gemini to list of registered firms (The Block)
• John McAfee Has Left His Own Privacy Asset Project (Cointelegraph)
• IOTA’s Chrysalis Upgrade Turbocharges Network Speeds 50x (Cointelegraph)

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Technical analysis

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Bitcoin

After a brief break of the $12,000 level, Bitcoin fell down and is controlled by BTC bears for the second day in a row. The largest cryptocurrency by market cap has moved towards the $11,630 support level (as we said in our previous article) and tried to test its strength. The level held up, and Bitcoin is now consolidating right above it.

This bear push was caused by several factors, but mostly because of the immense resistance at around $12,000 and the challenges Ethereum faces with its incredibly high transaction fees (Bitcoin acts as a “representative” to all the cryptos, so it affects others, but is also affected by others).

BTC traders should be looking for a trade when Bitcoin breaks $11,630 to the downside or pushes towards $12,000 again.

BTC/USD 4-hour Chart

Technical factors:

• Price is below its 50-period EMA and its 21-period EMA
• Price is between its lower and middle band
• RSI is slightly tilted towards the oversold area (41.97)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $12,015                                1: $11,630

2: $12,300                                2: $11,460

3: $12,900                                 3: $11,090

Ethereum

Even though Ethereum’s social sentiment is still extremely high due to the craze over DeFi, it is a fact that ETH’s transaction fees have been skyrocketing as the demand for DeFi increased. This fact, along with Bitcoin not being able to break the $12,000 mark, caused the second-largest cryptocurrency by market cap to drop below its $415 support level (now resistance). The drop stopped around $400 and changed direction, trying to retake its previous highs. However, the $415 resistance level confirmed its strength, leaving ETH below it.

Ethereum traders should look for a trade when ETH breaks $415 to the upside.

ETH/USD 4-hour Chart

Technical Factors:

• Price is currently below its 21-period and its 50-period EMA
• Price is slightly above its lower band
• RSI is descending (39.54) and approaching oversold levels
• Volume is average

Key levels to the upside          Key levels to the downside

1: $415                                     1: $400

2: $445                                     2: $361

3: $496                                      3: $340

Ripple

XRP has had quite a bad day, as it essentially nullified any previous moves towards the upside. The third-largest cryptocurrency by market cap dropped to $0.285 levels (and even below it at one point). While the level held up and secured XRP’s position above it, for the time being, XRP does not look like it will make another move towards the upside soon.

Traders can look for a trade when XRP breaks $0.285 to the downside.

XRP/USD 4-hour Chart

Technical factors:

• Price is currently below the 21-period and 50-period EMA
• Price is slightly above the lower band
• RSI is neutral (40.49)
• Volume is descending (though it is slightly elevated)

Key levels to the upside          Key levels to the downside

1: $0.31                                     1: $0.285 

2: $0.32                                     2: $0.266

3: $0.332                                  3:$0.2454

 

Almost every single cryptocurrency in the top100 was in the red today after Bitcoin broke $12,000 to the downside. Bitcoin is currently trading for $11,685, which represents a decrease of 4.7% on the day. Meanwhile, Ethereum lost 5.56% on the day, while XRP lost 9.4%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, yearn.finance gained 19.51% on the day, making it the most prominent daily gainer. THETA (17.62%) and Swipe (17.28%) also did great. On the other hand, Numeraire lost 10.95%, making it the most prominent daily loser. It is followed by BitTorrent’s loss of 10.14% and Fetch.ai’s drop of 9.94%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has increased slightly (even though it is still under the 60% mark), with its value currently at 59.77%. This value represents a 0.13% difference to the upside when compared to our last report.

Daily Crypto Market Cap Chart

The cryptocurrency market cap experienced a decrease in value over the course of the day. Its current value is $364.20 billion, which represents a decrease of $20 billion when compared to our previous report.

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What happened in the past 24 hours?

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• Bitmain still has ‘slight edge’ over rival MicroBT, says BitMEX (The Block)
• Gemini now offers cryptocurrency trading and storing services to registered investment advisors (The Block)
• A juicy trade is helping push CME’s bitcoin futures to new records, traders say (The Block)
• Transfers of Polkadot’s DOT tokens are now live (The Block)
• U.S. dollar trading at its worst level in more than two years (The Block)
• Blockchain.com to Offer 12% Interest on Crypto Deposits, Outpacing BlockFi (Cryptobriefing)
• YFI Worth More Than Bitcoin? Prices Pass $11k Following Insurance Product Launch (Cryptobriefing)
• Singapore bank says Bitcoin, crypto is “no more” the wild west (Cryptoslate)
• Bitcoin Holding Sentiment Now Strongest in Nearly Two Years (Coindesk)
• Bitcoin Price Prepares for $12,900 After Key Support Level Is Retested (Cointelegraph)

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Technical analysis

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Bitcoin

After finally breaking $12,000 with confidence, Bitcoin is now falling hard below it (click on the arrow of the image). The largest cryptocurrency by market cap is dropping below $11,700 at the moment on bearish momentum. If the cryptocurrency manages to break below the 11,600 level, the next target will be 11,087. Right now, it is heavily oversold, so we can also expect a bounce back to near $12,000.

BTC traders should look for a trade after the cryptocurrency decides on whether it will end up above or below $11,600, as this is a strong support level.

BTC/USD 4-hour Chart

Technical factors:

• Price is below its 50-period EMA and below its 21-period EMA
• Price is below its lower band.
• RSI is dropping (34) and approaching the oversold area
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $12,015                                1: $11,630

2: $12,300                                2: $11,460

3: $12,900                                 3: $11,090

Ethereum

Ethereum’s social sentiment is still on the rise with the increased interest in DeFi. Even though the second-largest cryptocurrency by market cap is losing heavily in the past 24 hours, the $400 support level should hold, and ETH is (for the time being) safe above it. The next move Ethereum makes will most likely be caused by Bitcoin’s move, as the largest cryptocurrency by market cap is preparing an explosive move towards (most likely) the upside. That, though, should wait a bit, since cryptos are still under selling pressure.

Traders should look for a trade when ETH regains a higher and steady volume.

ETH/USD 4-hour Chart

Technical Factors:

• Price is currently below its 21-period and its 50-period EMA
• Price is below its lower B.B.
• RSI is descending (36) approaching oversold levels
• Volume is average

Key levels to the upside          Key levels to the downside

1: $445                                      1: $415

2: $496                                     2: $400

                                                  3: $361

Ripple

XRP’s bold move towards the upside, which came after announcing that its company (Ripple) will focus its business model on the XRP token rather than using it as a side solution, got nullified. The third-largest cryptocurrency by market cap dropped below the $0.31 level and as low as $0.29 (which is where it is at now).

Traders can look for a trade after XRP moves above or below its immediate support/resistance levels, or within the current trading level.

XRP/USD 4-hour Chart

Technical factors:

• Price is currently below the 21-period and 50-period EMA
• Price is below the lower B.B.
• RSI is dropping (38.6)
• Volume increased in the last hours

Key levels to the upside          Key levels to the downside

1: $0.32                                     1: $0.31  

2: $0.332                                   2: $0.285

                                                3:$0.266

 

The cryptocurrency market made gains over the course of the day as Bitcoin broke the $12,000 mark. Bitcoin is currently trading for $12,247, which represents an increase of 3.61% on the day. Meanwhile, Ethereum gained 1.12% on the day, while XRP gained 5.14%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Flexacoin gained 27.98% on the day, making it the most prominent daily gainer. yearn.finance (26.80%) and Fetch.ai (25.97%) also did great. On the other hand, Algorand lost 14.78%, making it the most prominent daily loser. It is followed by Chainlink’s loss of 12.26% and THORChain’s drop of 10.18%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has increased slightly (though it is still under the 60% mark), with its value currently at 59.64%. This value represents a 0.47% difference to the upside when compared to our last report.

Daily Crypto Market Cap Chart

The cryptocurrency market cap experienced a solid increase in value over the course of the day. Its current value is $384.43 billion, which represents an increase of $11.03 billion when compared to our previous report.

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What happened in the past 24 hours?

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• Robinhood announces $200 million of new funding at $11.2 billion valuation (The Block)
• Pantera Capital reports raising $165 million in new SEC filing (The Block)
• Grayscale announces Bitcoin Cash and Litecoin trusts will now be traded publicly (The Block)
• More than 0.2% of all BTC is now represented on Ethereum: here’s why (Cryptoslate)
• Binance system traffic has surpassed its 2017 highs as crypto bull market kicks off (Cryptoslate)
• Nervos Network integrates Chainlink oracles for off-chain connectivity (Cryptoslate)
• APIs Will Decentralize CBDCs (Coindesk)
• Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches (Coindesk)
• Investor Jim Rogers Warned of the ‘Worst Economic Downturn’ of His Lifetime (Cointelegraph)
• Two Bitcoin Farmers Stole $1.5M in Electricity in Bulgaria (Cointelegraph)

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Technical analysis

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Bitcoin

Bitcoin finally broke $12,000 with confidence, after a couple of days slowly preparing for this move. The largest cryptocurrency by market cap broke out from a large ascending triangle formation and pushed up to $12,470 before falling back down slightly. However, for now, Bitcoin is safe above $12,000 even though it is moving towards the downside. It will most likely test the closest support level in the short term.

This (relatively) sudden break above $12,000 came as a result of many things, but mostly increased interest in DeFi which is making people enter the crypto space (which they do through Bitcoin) and because of institutional investors such as Pantera capital (which just recently announced raising $165 million)

BTC traders should look for a trade after Bitcoin retests its support level.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and its 21-period EMA
• Price is slightly below its top B.B.
• RSI is elevated (63.83)
• Volume is decreasing (one-candle spike)

Key levels to the upside          Key levels to the downside

1: $12,000                                1: $11,630

2: $12,300                                2: $11,460

                                                 3: $11,090

Ethereum

Ethereum’s social sentiment was booming as more and more people started investing in DeFi tokens. As this happened, more and more institutional investors grabbed ETH. This made the second-largest cryptocurrency by market cap establish its place above $415 with no signs of going below it in the short future.

When talking about the past 24 hours, Ethereum made a push towards $450 (accompanied by skyrocketing volume), which it did not have the strength to complete. The move died down, and Ethereum is now consolidating at the $430 level.

Traders should look for a trade when ETH regains steady volume.

ETH/USD 4-hour Chart

Technical Factors:

• Price is currently above its 21-period and its 50-period EMA
• Price is at its middle B.B.
• RSI is neutral (52.68)
• Volume is average (one-candle spike)

Key levels to the upside          Key levels to the downside

1: $445                                      1: $415

2: $496                                     2: $400

                                                  3: $361

Ripple

XRP made a bold move towards the upside after announcing that its company (Ripple) will focus its business model on the XRP token. As more emphasis was put on developing XRP as the main solution rather than a side solution, more investors flocked and bought XRP.

The third-largest cryptocurrency by market cap pushed past $0.31 and even $0.32, ultimately reaching $0.3275 as the top of the move. As it could not sustain itself above the $0.32 level, XRP fell below it and started a consolidation/confirmation period right between $0.31 and $0.32.

Traders can look for a trade after XRP moves towards $0.32 to break it or towards $0.31 to test the support level.

XRP/USD 4-hour Chart

Technical factors:

• Price is currently above the 21-period and 50-period EMA
• Price is slightly below the top B.B.
• RSI is elevated (63.26)
• Average volume (two-candle spike)

Key levels to the upside          Key levels to the downside

1: $0.32                                     1: $0.31  

2: $0.332                                   2: $0.285

                                                3:$0.266

 

The cryptocurrency market spent most of its weekend consolidating, with only a couple of cryptocurrencies moving significantly. Bitcoin is currently trading for $11,817, which represents a decrease of 0.64% on the day. Meanwhile, Ethereum lost 1.27% on the day, while XRP lost 0.47%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, OMG Network gained 50.69% on the day, making it the most prominent daily gainer. Waves (26.69%) and Ren (24.74%) also did great. On the other hand, Quant lost 6.55%, making it the most prominent daily loser. It is followed by Divi’s loss of 5.80% and Ampleforth’s drop of 5.08%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has decreased slightly and dropped under the 60% mark, with its value currently at 59.17%. This value represents a 0.91% difference to the downside when compared to our last report.

Daily Crypto Market Cap Chart

The cryptocurrency market cap experienced a slight increase in value over the weekend. Its current value is $373.40 billion, which represents an increase of $5.33 billion when compared to our previous report.

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What happened in the past 24 hours?

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• California Moves Forward With Digital Asset Bill (Cointelegraph)
• Bitcoin Hash Rate Hits Record Average High With $12K Price in Sight (Cointelegraph)
• Bitcoin’ Whale Clusters’ Show $14K as Pivotal for BTC Price Bull Run (Cointelegraph)
• Bitcoins Are Being Tokenized Faster Than They’re Mined as DeFi Craze Continues (Coindesk)
• US Post Office could turn to blockchain tech after Trump threatens “shutdown” (Cryptoslate)
• Bitcoin Derivatives Platform BitMEX Makes KYC Mandatory, Whales to Trade Elsewhere (Cryptobriefing)
• JPMorgan is Investing in Ethereum: ConsenSys Blockchain Conglomerate Raising $50M (Cryptobriefing)
• Curve becomes third DeFi protocol to hit $1 billion in total value locked (The Block)
• Binance saw the highest web traffic among other crypto exchanges in July (The Block)
• Aave becomes second DeFi protocol to hit $1 billion in total value locked (The Block)

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Technical analysis

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Bitcoin

Bitcoin was on a slightly upward slope over the course of the weekend, trying to reach $12,000 before attempting a strong push. The largest cryptocurrency by market cap saw good support in the 21-period moving average, which kept it on its path. The descending RSI and incredibly low volume indicate that the cryptocurrency will move very soon. Meanwhile, Bitcoin’s hashrate reached its new all-time high of 129 EH/s.

BTC traders should look for a trade when a volume spike happens.

BTC/USD 4-hour Chart

Technical factors:

• Price is above its 50-period EMA and its 21-period EMA
• Price is at its middle B.B
• RSI is neutral (52.88)
• Volume is decreasing (Low)

Key levels to the upside          Key levels to the downside

1: $12,000                                1: $11,630

2: $12,300                                2: $11,460

                                                 3: $11,090

Ethereum

Unlike Bitcoin, Ethereum was not moving slow throughout the weekend. After breaking the $415 mark, Ethereum needed to consolidate above it and show strength, which it did. The second-largest cryptocurrency by market cap retested its support (successfully) and is now safely at the $425 mark.

Traders should look for a trade when ETH regains volume.

ETH/USD 4-hour Chart

Technical Factors:

• Price is currently above its 21-period and its 50-period EMA
• Price is above its top B.B.
• RSI is neutral (52.85)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $445                                      1: $415

2: $496                                     2: $400

                                                  3: $361

Ripple

XRP spent its weekend consolidating between the $0.285 and $0.31 support and resistance levels. Low volatility, as well as volume, made XRP virtually untradeable over the course of the weekend. However, as much as XRP doesn’t seem like it doesn’t have the strength to push through $0.31 by itself (without Bitcoin moving first), the state it is currently in is still more bullish than bearish.

Traders can look for a trade after XRP increases its volume and heads towards $0.31.

XRP/USD 4-hour Chart

Technical factors:

• Price is currently above the 21-period and 50-period EMA
• Price is between its middle and top B.B.
• RSI is neutral (55.30)
• Low volume

Key levels to the upside          Key levels to the downside

1: $0.31                                     1: $0.285  

2: $0.32                                     2: $0.266

3: $0.245

 

The cryptocurrency market had mad a slight rally in the past 24 hours, with Ethereum leading the way with a price gain of almost 8%. Bitcoin is currently trading for $11,723, which represents an increase of 1.33% on the day. Meanwhile, Ethereum gained 7.61% on the day, while XRP gained 4.96%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Waves gained 36.29% on the day, making it the most prominent daily gainer. Algorand (34.02%) and Reserve Rights (25.27%) also did great. On the other hand, Ampleforth lost 14.74%, making it the most prominent daily loser. It is followed by Aragon’s loss of 12.46% and yearn.finance’s drop of 11.04%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has decreased slightly since we last reported, with its value currently at 60.08%. This value represents a 0.76% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market cap experienced an increase in value since we last reported. Its current value is $368.07 billion, which represents an increase of $9.15 billion when compared to yesterday’s value.

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What happened in the past 24 hours?

_______________________________________________________________________

• German Finance Ministry proposes blockchain-based solution to digitize securities in draft bill (The Block)
• Crypto derivatives exchange BitMEX is set to implement know-your-customer procedures (The Block)
• The Yam Finance DeFi Experiment Comes to a Grinding Halt (Cryptobriefing)
• Data Indicates Chainlink and Band Protocol Are Due for a Correction (Cryptobriefing)
• JPMorgan Investing in Ethereum: ConsenSys Blockchain Conglomerate Raising $50M (Cryptobriefing)
• Crypto exchanges are rushing to list Aragon (ANT), but what is it? (Cryptoslate)
• The Federal Reserve Experimenting With a Digital Dollar (Coindesk)
• $99 Gas Fees on ETH network Are Crippling DeFi’s Growth (Cointelegraph)
• Four of the Major Five South Korean Banks soon to Offer Crypto Services (Cointelegraph)
• ‘Invest In Bitcoin’ Galaxy Digital Ad Tells Financial Times Readers (Cointelegraph)

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Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin spent the day trying to get back near $12,000 after a day of consolidation. Its price made a sharp move towards the upside and broke the $11,630 resistance level, but stopped at $11,850 and then started to retrace. This retracement is most likely a test of the newly-passed resistance (now support). If Bitcoin’s price holds up above it, there is a good chance that we can see another move towards the $12,000 mark in the near term.

BTC traders should look for an opportunity when BTC spikes after the confirmation of its position.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA and its 21-period EMA
• Price is above its middle B.B
• RSI is neutral (54.81)
• Volume is decreasing

Key levels to the upside          Key levels to the downside

1: $12,000                                1: $11,630

2: $12,300                                2: $11,460

                                                 3: $11,090

Ethereum

Ethereum is the star of the day, as its price has skyrocketed over the course of the last 24 hours. The second-largest cryptocurrency by market cap saw a massive increase in volume while its price went from below-$400 levels all the way up to $432. Ethereum is now consolidating at around $420 and trying to test the $415 support level.

Traders should look for a trade when Ethereum confirms its position above $415 (or fails to do so).

ETH/USD 4-hour Chart

Technical Factors:

• Price is above its 21-period and its 50-period EMA
• Price is above its top B.B.
• RSI is overbought (71.94)
• Volume is average (one-candle spike)

Key levels to the upside          Key levels to the downside

1: $415                                     1: $$400

2: $496                                     2: $361

                                                  3: $340

Ripple

XRP had a great day and outperformed Bitcoin as well. The third-largest cryptocurrency by market cap ended up gaining almost 5% on the day after breaking above the $0.285 resistance level. As we noted in our previous report, breaking this level is key to pushing further towards the upside, and XRP’s future moves towards $0.31 are a bit more realistic now. However, for the time being, the current progress got stopped by the top B.B. at $0.3, and XRP started consolidating and (possibly) testing $0.285 as support.

Traders can look for an opportunity right after XRP increases in volume and heads towards $0.31.

XRP/USD 4-hour Chart

Technical factors:

• Price is above the 21-period and 50-period EMA
• Price is between its middle and top B.B.
• RSI is neutral (57.75)
• Low volume

Key levels to the upside          Key levels to the downside

1: $0.31                                     1: $0.285  

2: $0.32                                     2: $0.266

3: $0.245

 

The cryptocurrency market had a day where almost no cryptocurrencies ended up in the red. Even though the gains were mostly small, only five cryptocurrencies lost in the past 24 hours. Bitcoin is currently trading for $11,582, which represents an increase of 1.88% on the day. Meanwhile, Ethereum gained 4.37% on the day, while XRP gained 1.11%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Numeraire gained 161.01% on the day, making it the most prominent daily gainer. Aragon (90.43%) and BitShares (41.67%) also did great. On the other hand, Divi lost 4.38%, making it the most prominent daily loser. It is followed by Compound’s loss of 2.5% and Aave’s loss of 1.85%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has decreased slightly since we last reported, with its value currently at 60.84%. This value represents a 0.53% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market cap experienced a major increase in value since we last reported. Its current value is $358.92 billion, which represents an increase of $13.32 billion when compared to yesterday’s value.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Uniswap’s August Volume Topples July $1.76B Record in Less Than Two Weeks (Coindesk)
• American software firm buys up $250 million in Bitcoin, stock jumps 10% (Cryptoslate)
• No Audits, No Problem: DeFi Stablecoin YAM Attracts Over $100 Million (Cryptobriefing)
• JPMorgan plans to lead ConsenSys’ $50m convertible note raise (The Block)
• Coinbase is set to enter the lending space this fall, will enable cash loans for bitcoin collateral (The Block)
• IEX co-founder Ronan Ryan on why bitcoin exchanges will eventually charge for market data (The Block)
• Square is reportedly testing short-term loans via Cash App (The Block)
• Bitcoin, gold bounce following bullion’s biggest single-day decline in 7 years (The Block)
• Crypto Exchange Bitfinex Back Online After 5-Hour Outage (Cointelegraph)
• Ethereum Network Hashrate Hits 20-Month High as DeFi Tokens Rally (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

After a day of sharp decline, Bitcoin spent the day trying to restore the lost value. However, while the largest cryptocurrency by market cap did gain a few percent and rose to $11,600 levels, the $11,630 resistance seems to be holding the price in place quite well. Bitcoin will need to pass this level confidently (and soon), or BTC bears will consider this the start of a bear move.

BTC traders should look for an opportunity when BTC crosses $11,630.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently below its 50-period EMA but above its 21-period EMA
• Price is slightly above its middle B.B
• RSI is neutral (48.49)
• Volume is decreasing

Key levels to the upside          Key levels to the downside

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

2: $12,000                                 2: $11,090

3: $12,300                                  3: $10,850

Ethereum

Ethereum had a slightly better day than its rival Bitcoin in terms of gains, as it returned to the level it was on the night before the selloff. However, the $400 level seems like it has great resistance, and it is yet unknown whether ETH will be able to break it. The move that will break $400 needs to be extremely strong, and it will most likely be caused by BTC’s move to the upside.

Traders should look for an opportunity when Ethereum breaks $400 or collapses after failing to do so.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above its 21-period EMA and its 50-period EMA
• Price is between its middle and top B.B.
• RSI is elevated (58.91)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $400                                     1: $361

2: $415                                     2: $340

3: $496                                      3: $302

Ripple

Unlike Bitcoin and Ethereum, XRP did not have such a good day today. The third-largest cryptocurrency by market cap did end up in the green on the day, but it failed to break the $0.285 level. Breaking this level is key to pushing further towards the upside, but the 21-period and 50-period moving average are also above the price and very near $0.285, making it incredibly difficult for XRP to move towards the upside.

Traders can look for an opportunity right after XRP breaks $0.285.

XRP/USD 4-hour Chart

Technical factors:

• Price is below its 21-period and 50-period EMA
• Price is slightly below its B.B.
• RSI is neutral (42.19)
• Low volume

Key levels to the upside          Key levels to the downside

1: $0.285                                    1: $0.266  

2: $0.31                                     2: $0.245

3: $0.32                                    3: $0.235

 

The cryptocurrency market was in the red in the past 24 hours, with most altcoins’ prices falling down over 5%. Bitcoin is currently trading for $11,375, which represents a decrease of 4.05% on the day. Meanwhile, Ethereum lost 4.84% on the day, while XRP lost 7.59%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Compound gained 31.08% on the day, making it the most prominent daily gainer. Swipe (16.13%) and Maker (12.37%) also did great. On the other hand, Band Protocol lost 16.42%, making it the most prominent daily loser. It is followed by yearn.finance’s loss of 14.86% and Nervos Network’s loss of 14.41%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has increased slightly since we last reported, with its value currently at 61.39%. This value represents a 0.17% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market cap experienced a major decrease in value since we last reported. Its current value is $345.60 billion, which represents an increase of $7.98 billion when compared to yesterday’s value.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• The inflation fears that have been fueling gold and bitcoin markets might be overblown (The Block)
• Coinbase exits trade group following entry of upstart rival Binance.US (The Block)
• Coinbase says batching bitcoin transactions has saved clients 75% in fees (The Block)
• Ethereum Whale Pushed ETH Prices to $450 on Uniswap (Cryptobriefing)
• Top VC says that Ethereum and Bitcoin may race each other to $1 trillion valuation (Cryptoslate)
• Crypto investor sentiment hits “extreme greed” levels for first time since 2019 (Cryptoslate)
• India May Be Starting Its Biggest Bitcoin Bull Run Yet (Coindesk)
• MicroStrategy Buys $250M in Bitcoin, Calling the Crypto’ Superior to Cash’ (Coindesk)
• DeFi Token Serum Surges 1500% in 12 Hours After Listing (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin experienced a large selloff as a result of bulls failing to successfully break the $12,000 mark. The largest cryptocurrency by market cap fell to $11,090 support level before rallying slightly to $11,400 levels. However, Bitcoin might have another bullish move as the RSI is dangerously close to the oversold territory while the volume is high, and since the $11,090 support level held up nicely, Bitcoin confirmed it almost certainly will not go below.

BTC traders should look for an opportunity when BTC makes another move towards the upside and breaks $11,460.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently below its 50-period EMA, as well as its 21-period EMA
• Price is above its lower B.B
• RSI is near the oversold territory (35.52)
• Volume is decreasing from above-average levels

Key levels to the upside          Key levels to the downside

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

2: $11,630                                 2: $10,850

3: $12,000                                  3: $10,500

Ethereum

Ethereum also experienced a selloff, partly because of not being able to go past $400 and partly because of Bitcoin’s move towards the downside. The price broke the triangle formation to the downside (as we said in the previous article) as there was not enough pressure for it to get past the $415 mark. The second-largest cryptocurrency by market cap tested the $361 support, which held up nicely and did not let ETH fall below. Ethereum is now at the $375 mark and is showing no signs of dropping further below.

Traders should look for a trade opportunity when Ethereum makes a bounce towards the upside or falls below $361.

ETH/USD 4-hour Chart

Technical Factors:

• Price is below its 21-period EMA and its 50-period EMA
• Price is at its bottom B.B.
• RSI is near the oversold territory (33.99)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $400                                     1: $361

2: $415                                     2: $340

3: $496                                      3: $302

Ripple

XRP was no different than Bitcoin and Ethereum in terms of the direction of its movement throughout the day, but it did differ in terms of intensity of the move. The third-largest cryptocurrency by market cap lost over 8% of its value at one point, as bears took over the market when XRP couldn’t break $0.31. The price fell to as low as $0.266 but quickly recovered to its current position ($0.278).

Traders can look for an opportunity to trade after XRP breaks $0.285.

XRP/USD 4-hour Chart

Technical factors:

• Price is below its 21-period and 50-period EMA
• Price is slightly above its bottom B.B.
• RSI is near the oversold territory (35.64)
• Low volume (slightly increased)

Key levels to the upside          Key levels to the downside

1: $0.285                                    1: $0.266  

2: $0.31                                     2: $0.245

3: $0.32                                    3: $0.235

 

The cryptocurrency market tried to catch up to Bitcoin after it pushed up yesterday. Bitcoin is currently trading for $11,938, which represents an increase of 1.26% on the day. Meanwhile, Ethereum gained 1.27% on the day, while XRP lost 4.73%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, yearn.finance gained 50.03% on the day, making it the most prominent daily gainer. JUST (39.71%) and Terra (28.27%) also did great. On the other hand, Balancer lost 13.90%, making it the most prominent daily loser. It is followed by Band Protocol’s loss of 9.52% and iExec RLC’s loss of 6.35%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has decreased slightly since we last reported, with its value currently at 61.22%. This value represents a 0.56% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market cap has increased since we last reported. Its current value is $363.58 billion, which represents an increase of $0.89 billion when compared to yesterday’s value.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin’s Hash Rate Remains Flat Despite Major Price Rally (Cointelegraph)
• IOTA Revs Its Engines for Mainnet Upgrade Launch (Cointelegraph)
• After Tumultuous Election, Belarus Goes Offline (Coindesk)
• Ethereum and other top altcoins could soon surge yet again: here’s why (Cryptoslate)
• yEarn Finance Token YFI Gains 50% After Listing on Binance (Cryptobriefing)
• Ethereum Whale Pushed ETH Prices to $450 on Uniswap (Cryptobriefing)
• Report: European agency declines deal between Binance’s CZ and Union Bank (The Block)
• Coinbase hires Lyft and Google alum to lead engineering team (The Block)
• Facebook launches group to oversee “all things payments” with David Marcus at the helm (The Block)
• DEX protocol Uniswap added nearly 58,000 users in July (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has spent the day trying to regain what’s been lost after the failed attempt to break the $12,000 mark. However, the price doesn’t seem like it will be able to push past this level unless a surge in volume and bull pressure happens. Meanwhile, Bitcoin is locked between $11,630 and $12,000. When it comes to moves towards the downside, Bitcoin is well protected by the 21-period and 50-period moving averages.

BTC traders should look for an opportunity when BTC makes another push and breaks $12,000.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA, as well as its 21-period EMA
• Price between its middle B.B (20-period SMA) and its top B.B.
• RSI is neutral (56.12)
• Volume is decreasing

Key levels to the upside          Key levels to the downside

1: $12,000                                 1: $11,630

2: $12,330                                 2: $11,460

3: $13180                                   3: $11,090

Ethereum

Ethereum was quite stable in the past 24 hours, making small gains in an attempt to catch up to Bitcoin’s gains that happened yesterday. However, if we take a look at this month’s price movement, we can interpret the moves as a triangle formation, which will make a breakout very soon. It is more likely that the second-largest cryptocurrency by market cap will break the triangle formation towards the downside unless Bitcoin’s move pushes it up.

Traders should look for a trade opportunity when Ethereum breaks the formation.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above its 21-period EMA and its 50-period EMA
• Price is slightly below its top B.B.
• RSI is neutral (56.42)
• Volume decreasing

Key levels to the upside          Key levels to the downside

1: $400                                     1: $361

2: $415                                     2: $340

3: $496                                      3: $302

Ripple

XRP is the cryptocurrency that gained the most in the past 24 hours (when compared to Bitcoin and Ethereum) as its price increased close to 5% on the day. The third-largest cryptocurrency by market cap made another push towards the $0.31 resistance level, but the move failed to even reach the level, let alone break it.

Traders can look for an opportunity to trade XRP within the range it is currently in.

XRP/USD 4-hour Chart

Technical factors:

• Price is above its 21-period and 50-period EMA
• Price is above its top B.B.
• RSI is slightly elevated (58.52)
• Low volume (slightly increased)

Key levels to the upside          Key levels to the downside

1: $0.31                                     1: $0.285  

2: $0.32                                     2: $0.266

3: $0.3328                                3: $0.245

 

The cryptocurrency market had an interesting weekend, with Bitcoin pushing towards 12,000 and actually passing it at the time of writing. Bitcoin is currently trading for $12,003, which represents an increase of 2.24% on the day. Meanwhile, Ethereum gained 0.18% on the day, while XRP lost 0.11%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Balancer gained 45.17% on the day, making it the most prominent daily gainer. Band Protocol (32.27%) and Nervos Network(26.64%) also did great. On the other hand, Flexacoin lost 16.27%, making it the most prominent daily loser. It is followed by Decentraland’s loss of 9.91% and Elrond’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 has increased slightly since we last reported, with its value currently at 61.78%. This value represents a 0.28% difference to the upside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization has increased since we last reported. Its current value is $362.67 billion, which represents an increase of $3.77 billion when compared to Friday’s value.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Global Stocks in ‘Bubble Territory’ — But Bitcoin Traders Aren’t Fazed (Cointelegraph)
• BAND Token is Now Available for Trading on Huobi Global (Cointelegraph)
• More Than 10,000 New Blockchain Companies Established in China in 2020 (Cointelegraph)
• China’s Mining Dominance Unlikely to Last: Lopp (Cointelegraph)
• German fintech company Wirecard possibly robbed before its collapse (The Block)
• Fintechs are moving into bitcoin, but expect crypto startups to stay on their home turf (The Block)
• Trump vs Biden, who’s better for Bitcoin and crypto? (Cryptoslate)
• A $20m decentralized Chainlink (LINK) short was just liquidated on Aave (Cryptoslate)
• Bitcoin Cash Holders Dump BCH as Chain Split Fears Build (Cryptobriefing)
• Chainlink Screams Sell Despite New Highs (Cryptobriefing)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

Bitcoin has spent the weekend pushing towards $12,000 and finally passing it in a major push just a couple of hours ago. However, the price didn’t fully (or at all) establish itself above the major mark. Bitcoin will need to confirm its position above $12,000 (and confidently) before being considered as officially above it. For now, this level is still a resistance level.

BTC traders should look for an opportunity to make a trade when BTC confirms its position above or below $12,000.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA, as well as its 21-period EMA
• Price above its top B.B.
• RSI is elevated (65.89)
• Volume elevated (on the increase)

Key levels to the upside          Key levels to the downside

1: $12,000                                 1: $11,630

2: $12,330                                 2: $11,460

3: $13180                                   3: $11,090

Ethereum

Unlike Bitcoin, Ethereum spent the weekend without much movement towards the upside. However, the second-largest cryptocurrency by market cap did fall back to the $361 level and tested its support, which held up quite nicely. Once the price bounced back to its previous highs, it continued slowly moving towards the upside, but without any real strength. Ethereum still has a way to go before it reaches past $400.

Traders should look for a trade opportunity when Ethereum increases its volume.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above its 21-period EMA and its 50-period EMA
• Price is slightly below its top B.B.
• RSI is elevated (58.51)
• Volume increasing slightly

Key levels to the upside          Key levels to the downside

1: $400                                     1: $361

2: $415                                     2: $340

3: $496                                      3: $302

Ripple

XRP had quite a turbulent weekend, with its price failing to stay above the previously broken triangle formation levels. This happened as, even though XRP managed to break the triangle formation to the upside, it did not reach past the $0.31 resistance level. Instead, bears stepped into the market and brought the price down to below $0.285 levels (at one point). However, the $0.285 level held up and XRP has confirmed its position above this support.

Traders can look for an opportunity to trade when XRP reaches the $0.31 mark and decides if it will reach above it or fall below once again.

XRP/USD 4-hour Chart

Technical factors:

• Price is above its 21-period and 50-period EMA
• Price is slightly above its middle B.B. (20-period SMA)
• RSI is neutral (51.45)
• Low volume

Key levels to the upside          Key levels to the downside

1: $0.31                                     1: $0.285  

2: $0.32                                     2: $0.266

3: $0.3328                                3: $0.245

 

The cryptocurrency market ended up mostly in the green, with Bitcoin continuing its path towards $12,000. Bitcoin is currently trading for $11,831, which represents an increase of 1.34% on the day. Meanwhile, Ethereum lost 0.18% on the day, while XRP gained 1.4%.

 

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Balancer gained 23.90% on the day, making it the most prominent daily gainer. Aave (20.29%) and Decentraland (15.99%) also did great. On the other hand, Aurora lost 12.10%, making it the most prominent daily loser. It is followed by Ampleforth’s loss of 7.98% and The Midas Touch’s loss of 5.50%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has increased slightly since we last reported, with its value currently at 61.50%. This value represents a 0.02% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization has increased since we last reported. Its current value is $358.90 billion, which represents an increase of $5.42 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Russia’s largest state-owned bank plans to launch a stablecoin this year (The Block)
• Popular DeFi platforms are seeing a surge in Web traffic (The Block)
• U.S. Senate confirms crypto-friendly SEC commissioner Hester Peirce for second term in office (The Block)
• Another Multi-Billion Dollar Company Turns to Bitcoin as a Dollar Hedge (Cryptobriefing)
• Goldman Sachs Wants to Launch Its Own Cryptocurrency Stablecoin (Cryptobriefing)
• Americans are “pouring” cash, stimulus checks into Bitcoin and gold (Cryptoslate)
• Bitcoin’s Patronage System Is an Unheralded Strength (Coindesk)
• Record $830M CME Bitcoin Futures Open Interest Highlights Bullish Trend (Cointelegraph)
• Raoul Pal: ‘It May Not Be Worth Owning Any Asset Other Than Bitcoin’ (Cointelegraph)
• Pantera’s Founder Foresees $100K+ Bitcoin On the Horizon (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization kept increasing in price slowly throughout the day as sentiment turned even more bullish. However, the path towards $12,000 will not be easy, as the sell wall at the resistance is not small. On the other hand, if Bitcoin fails to break $12,000, it will create a double top and most likely fall down towards $11,630 and then $11,460 as well.

BTC traders should look for an opportunity to make a trade when BTC breaks $12,000 or fails to break it.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA, as well as its 21-period EMA
• Price is near its top B.B.
• RSI is elevated (65.50)
• Volume elevated (stable)

Key levels to the upside          Key levels to the downside

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

2: $12,000                                 2: $11,090

                                                  3: $10,855

Ethereum

Ethereum spent the day flattening out its movement and mostly trading sideways. The second-largest cryptocurrency by market capitalization stayed below the $400 mark and couldn’t get past it. However, with volume dying down and such low volatility, we may expect an attempt to break the $400 (and then $415) level soon.

Traders should look for a trade opportunity when Ethereum increases its volume.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above its 21-period EMA and its 50-period EMA
• Price is slightly above its middle B.B. (20-period SMA)
• RSI is elevated (58.42)
• Descending volume

Key levels to the upside          Key levels to the downside

1: $400                                     1: $362

2: $415                                     2: $340

3: $496                                      3: $302

Ripple

XRP broke out from its triangle formation to the upside, but couldn’t reach past $0.31 mark. However, the pullback from a failed move didn’t discredit XRP’s break from the triangle formation, as the cryptocurrency managed to stay above the triangle. With the confirmed break, traders can expect XRP to either stay near $0.31 or push above it in the short-term unless some other catalyst sparks a movement to the downside.

Traders can look for an opportunity to trade when XRP breaks $0.31.

XRP/USD 4-hour Chart

Technical factors:

• Price is above its 21-period and 50-period EMA
• Price is below its middle B.B. (20-period SMA)
• RSI is neutral (55.99)
• Low volume

Key levels to the upside          Key levels to the downside

1: $0.31                                     1: $0.285  

2: $0.32                                     2: $0.266

3: $0.3328                                3: $0.245

 

The cryptocurrency market ended up mostly in the green, with (of course) a few exceptions. Bitcoin is currently trading for $11,665, which represents an increase of 3,46% on the day. Meanwhile, Ethereum gained 1.6% on the day, while XRP gained 1.41%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Band Protocol gained 36.21% on the day, making it the most prominent daily gainer. Travala.com (24%) and Bancor (22.19%) also did great. On the other hand, Nexohas lost 21.32%, making it the most prominent daily loser. It is followed by The Midas Touch’s loss of 8.47% and THORChain’s loss of 7.70%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has increased since we last reported, with its value currently at 61.48%. This value represents a 0.31% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization has increased since we last reported. Its current value is $353.48 billion, which represents an increase of $12.09 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin and S&P 500 No Longer Correlated: Mati Greenspan (Cointelegraph)
• Blockstream’s Adam Back Slams Ethereum as a Ponzi-Scheme (Cointelegraph)
• Band Protocol secures major oracle integration and Coinbase Pro listing (Cryptoslate)
• Crypto lending volumes set record as Ethereum DeFi tokens surge (Cryptoslate)
• Bitcoin CME futures are trading at a $300+ premium; Here’s what this means (Cryptoslate)
• EOS Prepares for Bullish Price Action Despite Stagnating User Growth (Cryptobriefing)
• XRP Prices Jeopardized as Ripple Continues Flooding Market (Cryptobriefing)
• Ethereum Whales Enter Buying Frenzy as ETH 2.0 Mainnet Approaches (Cryptobriefing)
• Ethereum Classic suffers another 51% attack in five days (The Block)
• Bitcoin continues to be the most commonly supported cryptocurrency on darknet markets (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization continued its move towards the upside after a few days of indecisiveness and consolidation. Bitcoin saw a slight increase in volume, which brought the price above the $11,460 resistance level and up to $11,820. However, the move stopped there (for now), and Bitcoin is currently consolidating above the $11,460 level, testing it as support.

BTC traders should look for an opportunity to make a trade when BTC confirms or fails to confirm its position with $11,460.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA, as well as its 21-period EMA
• Price is near its top B.B
• RSI is elevated (62.37)
• Volume is increasing

Key levels to the upside          Key levels to the downside

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

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

 3: $12,000                                 3: $10,505

Ethereum

Ethereum seems to be back on its steady upwards path, which began on July 21. The second-largest cryptocurrency by market cap rose steadily throughout the day, trying to reach past the $415 resistance. While the price did not yet reach this mark, it did increase slightly, supported by the 21 and 50-period moving averages.

Traders should look for a trade opportunity within the range ETH is currently in.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above its 21-period EMA and its 50-period EMA
• Price is slightly above its middle B.B. (20-period SMA)
• RSI is elevated (60.26)
• Descending volume

Key levels to the upside          Key levels to the downside

1: $415                                     1: $362

2: $496                                     2: $340

                                                  3: $302

Ripple

XRP experienced sideways movement on low volume throughout the day. The third-largest cryptocurrency by market capitalization was trading near the top of its triangle formation, unable to break it yet. However, the decreasing volume, as well as the price approaching the 80% mark of the formation, indicate a move which will take XRP out of the triangle formation. While it is too early to speculate, XRP seems to have a better chance of breaking to the upside.

Traders can look for an opportunity to trade when XRP breaks its triangle formation.

XRP/USD 4-hour Chart

Technical factors:

• Price is above its 21-period and 50-period EMA
• Price is below the middle B.B. (20-period SMA)
• RSI is neutral (55.62)
• Low volume

Key levels to the upside          Key levels to the downside

1: $0.32                                    1: $0.285  

2: $0.3328                                2: $0.266

                                               3: $0.245

 

The cryptocurrency market had a day without much movement. Bitcoin is currently trading for $11,166, which represents a decrease of 1.52% on the day. Meanwhile, Ethereum lost 2.66% on the day, while XRP lost 6%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Band Protocol gained 15.33% on the day, making it the most prominent daily gainer. The Midas Touch (13.97%) and Kava.io (12.79%) also did great. On the other hand, Quant has lost 15.75%, making it the most prominent daily loser. It is followed by Ampleforth’s loss of 14.84% and MCO’s loss of 11.32%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has increased since we last reported, with its value currently at 61.17%. This value represents a 0.37% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization has decreased slightly since we last reported. Its current value is $341.39 billion, which represents a decrease of $6.78 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Ethereum 2.0 Testnet Medalla Goes Live With 20,000 Validators (Coindesk)
• US Lawmakers Don’t Want Proof-of-Stake Networks to Get Overtaxed (Coindesk)
• Russian Voters’ Data on Sale After Blockchain Poll to Keep Putin in Power: Report (Coindesk)
• Institutions that want in on DeFi are buying Ethereum first: fund manager (Cryptoslate)
• Ripple Increases XRP Sales by 18x in Q2 After Earlier Cutbacks (Cryptobriefing)
• Square says Cash App generated $875 million in bitcoin revenue during Q2, posting $17 million in gross profit (The Block)
• DEX volumes made up almost 4% of centralized exchange volumes in July — a monthly high (The Block)
• The SEC wants to buy a blockchain forensics tool for monitoring smart contracts (The Block)
• Russia’s Biggest Bank Considers Launching Its Own Stablecoin (Cointelegraph)
• Dash Launches Latin America’s First Ever Crypto Debit Card (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market cap had a slow day, with its price being locked in a range bound by The $11,460 resistance and $11,090 support. Bitcoin continuously retested its immediate support, but the lack of volume and pressure towards the downside brought nothing to the BTC bears. Bitcoin’s downside is also guarded by the 50-period moving average, which is sitting right under $11,090.

BTC traders should look for an opportunity to make a trade when BTC breaks $11,460 or falls below $11,090.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA, but below its 21-period EMA
• Price is near its middle B.B (20-period SMA)
• RSI is neutral (47.67)
• Volume decreasing

Key levels to the upside          Key levels to the downside

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

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

 3: $12,000                                 3: $10,505

Ethereum

Ethereum has a slow day as well, with its volume normalizing and volatility fading. The second-largest cryptocurrency by market capitalization oscillated between $401 and $380 over the course of the day. The cryptocurrency seems like it will be trading within the range bound by $415 and $362 for some time now.

Traders should look for a trade opportunity within the range ETH is currently in.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above its 21-period EMA and its 50-period EMA
• Price is currently at its middle B.B. (20-period SMA)
• RSI is elevated (57.69)
• Descending volume

Key levels to the upside          Key levels to the downside

1: $415                                     1: $362

2: $496                                     2: $340

                                                  3: $302

Ripple

XRP experience a day with a bit more volatility than Bitcoin and Ethereum, with its price dropping down to below $0.3 levels. While the move to the downside seems to be stopped by the 21-period moving average for now, XRP will certainly move somewhere (more likely to the downside. On top of that, XRP has formed a triangle formation, which gives us a possible time estimate of its next move.

Traders can look for an opportunity to trade when XRP breaks the triangle formation.

XRP/USD 4-hour Chart

Technical factors:

• Price above 21-period and the 50-period EMA
• Price is below the middle B.B. (20-period SMA)
• RSI is neutral (54.18)
• Average volume

Key levels to the upside          Key levels to the downside

1: $0.32                                    1: $0.285  

2: $0.3328                                2: $0.266

                                               3: $0.245

 

The cryptocurrency market ended up in the green today, with Bitcoin establishing its place above $11,000 and most altcoins gaining substantial value. Bitcoin is currently trading for $11,350, which represents an increase of 1.86% on the day. Meanwhile, Ethereum gained 4.8% on the day, while XRP gained 6.87%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, MCO gained 41.91% on the day, making it the most prominent daily gainer. Ocean Protocol (28.92%) and Energy Web Token (22.88%) also did great. On the other hand, Ampleforth has lost 12.73%, making it the most prominent daily loser. It is followed by Aave’s loss of 6.32% and Celsius’ loss of 3.80%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level has decreased since we last reported, with its value currently at 60.80%. This value represents a 0.82% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization has increased since we last reported. Its current value is $347.17 billion, which represents an increase of $9.74 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• State-Run Bank in Switzerland to Launch Crypto Services (Cointelegraph)
• Cardano’ Dwarfs’ Tezos After Shelley Hard Fork, Says Security Auditor (Cointelegraph)
• Huobi Hires Former Banking Giant Executive to Lead New DeFi Fund (Coindesk)
• The amount of Ethereum locked in DeFi is up almost 30% in a month (Cryptoslate)
• Aggregated open interest for bitcoin futures hit an all-time high on Saturday (The Block)
• U.S. seizes $6.5 million in bitcoin and tether from ‘Banana Fund’ Ponzi scheme (The Block)
• Ripple reports $32.5 million in over-the-counter XRP sales in Q2 (The Block)
• Binance wants to launch futures trading in the U.S., possibly through buying a licensed firm (The Block)
• Despite Crash, Metrics Show Bitcoin Will Continue Climbing (Cryptobriefing)
• Crypto.com Merges Tokens, MCO Rallies Over 37% (Cryptobriefing)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization confirmed its position above $11,000 in the past 24 hours (at least in the short term) Its price kept slowly going up until it hit a (possibly) new resistance level of $11,460. The price then took a small dive but returned to sideways movements. Bitcoin is in a good spot to create a move that will lead it towards (or above) $12,000 in the near future.

BTC traders should look for an opportunity to make a trade when BTC breaks $11,460 or falls below $11,090.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA, but below its 21-period EMA
• Price is between its bottom B.B. and its middle B.B (20-period SMA)
• RSI is neutral (51.35)
• Volume increased

Key levels to the upside          Key levels to the downside

1: $11,630                                1: $11,090

2: $12,000                                2: $10,855

                                                 3: $10,505

Ethereum

Ethereum continued pushing towards the upside, pretty much unaffected by the “flash crash” that brought its price down from $415 to $320. The second-largest cryptocurrency by market capitalization is moving upwards and having the 21-period and 50-period moving averages as support. The price is currently just below $400.

Ethereum traders should look for an opportunity in a pullback, which will most likely happen after the current move towards the upside.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above its 21-period EMA and its 50-period EMA
• Price is currently between its top B.B. and its middle B.B. (20-period SMA)
• RSI is elevated (63.95)
• Above-average volume

Key levels to the upside          Key levels to the downside

1: $340                                    1: $302

2: $362                                    2: $289

                                                 3: $278

Ripple

XRP was also one of the altcoins that made significant progress towards the upside in the past 24 hours. The third-largest cryptocurrency by market cap recovered from the “flash crash” quickly and hurled upwards, reaching past the $0.31 resistance level (now support) once again.

XRP traders can look for an opportunity in the range between $0.31 and $0.32.

XRP/USD 4-hour Chart

Technical factors:

• Price above 21-period and the 50-period EMA
• Price is between the top B.B. and the middle B.B. (20-period SMA)
• RSI is elevated (66.85)
• Elevated volume

Key levels to the upside          Key levels to the downside

1: $0.32                                    1: $0.285  

2: $0.3328                                2: $0.266

                                               3: $0.245

 

The cryptocurrency market had quite a weird weekend in terms of price performance. The market and most of its cryptocurrencies had a “flash crash,” but quickly recovered to a price slightly below the previous highs. Bitcoin is currently trading for $11,160, which represents a decrease of 6.59% on the day. Meanwhile, Ethereum lost 4.04% on the day, while XRP gained 1.03%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Loopring gained 17.24% on the day, making it the most prominent daily gainer. Terra (14.69%) and Synthetix Network (13.73%) also did great. On the other hand, Ampleforth has lost 20.21%, making it the most prominent daily loser. It is followed by The Midas Touch’s loss of 18.78% and Quant’s loss of 15.89%.

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 61.62%. This value represents a 1.29% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased since we last reported. Its current value is $337.43 billion, which represents an increase of $9.65 billion when compared to the value it had on Friday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin and Ethereum crash by more than 12% in 6 minutes as more than $1B of positions gets liquidated (The Block)
• Decentralized exchange volumes surged to $4.3 billion in July, breaking monthly record (The Block)
• Ethereum Classic experiences 3,693 block-long reorg (The Block)
• Ethereum’s fifth anniversary saw network near $1 trillion in aggregate transaction volume since launch (The Block)
• Uniswap does a third of Coinbase volumes while “Tendies” tokens surge (Cryptoslate)
• Economist: Gold shows that Bitcoin could see further upside despite “blowoff top” (Cryptoslate)
• Why Trump Banning TikTok May Be a Blessing for Bitcoin Price, Adoption (Cointelegraph)
• OKCoin Says Institutional Investors Benefit Most From OCC Crypto Clarity (Cointelegraph)
• Former China Central Bank Exec Pushes for Digital Currencies (Cointelegraph)
• $20,000 Won’t Pose Any Resistance for Bitcoin Price, Says Max Keiser (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the weekend crashing down to $10,555 and then recovering from the drop. After the price going up all the way up to $12,000, Bitcoin suddenly dropped to $10,555, which liquidated $1 billion of positions. However, the price quickly recovered and went over $11,000. It is still unsure if the price will end up being above this support level, but it is more likely that BTC will remain above, rather than fall below it.

BTC traders should look for a trade opportunity when BTC bounces from $11,000 or falls below it.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently below its 50-period EMA and its 21-period EMA
• Price is between its bottom B.B. and its middle B.B (20-period SMA)
• RSI is neutral (47.02)
• Volume increased (descending)

Key levels to the upside          Key levels to the downside

1: $11,630                                1: $11,090

2: $12,000                                2: $10,855

                                                 3: $10,505

Ethereum

Ethereum acted pretty much the same as Bitcoin over the weekend, with its price reaching a major high of $415, and then plummeting down to $320 before recovering to $380 levels. While the current price is considerably lower than the $415 high, but Ethereum made insane gains over the course of the week and month.

Ethereum traders should look for a trade opportunity after the cryptocurrency decides its price direction.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above the 50-period EMA and the 21-period EMA
• Price is between its top B.B. and its middle B.B (20-period SMA)
• RSI is elevated (61.44)
• Above-average volume (descending)

Key levels to the upside          Key levels to the downside

1: $340                                    1: $302

2: $362                                    2: $289

                                                 3: $278

Ripple

XRP spent the weekend reaching the resistance level of $0.32, which it could not pass over, and then dropping towards the downside. The third-largest cryptocurrency reached a low of $0.241 before bouncing back to above $0.285 level, where it currently is consolidating (and rising slowly).

XRP traders can look for an opportunity in the range between $0.285 and $0.31.

XRP/USD 4-hour Chart

Technical factors:

• Price above 21-period and the 50-period EMA
• Price is between the top B.B. and the middle B.B. (20-period SMA)
• RSI is elevated (63.79)
• Elevated volume (descending)

Key levels to the upside          Key levels to the downside

1: $0.32                                    1: $0.285  

2: $0.3328                                2: $0.266

                                               3: $0.245

 

The cryptocurrency market mostly traded sideways as Bitcoin still continues its fight for $11,000. Bitcoin is currently trading for $11,065, which represents a decrease of 0.43% on the day. Meanwhile, Ethereum gained 4.76% on the day, while XRP gained 2.04%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Chilliz gained 29.75% on the day, making it the most prominent daily gainer. Bancor (14%) and VeChain (12.22%) also did great. On the other hand, Ampleforth has lost 45.57%, making it the most prominent daily loser. It is followed by Flexacoin’s loss of 8.58% and Quant’s loss of 8.06%.

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 62.91%. This value represents a 0.75% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly since we last reported. Its current value is $328.13 billion, which represents an increase of $3.04 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• XRP Whales Go Into Buying Frenzy, Further Gains Ahead? (Cryptobriefing)
• Chinese authorities have arrested all 27 major suspects of PlusToken Ponzi scheme – report (The Block)
• Circle links up with Genesis Global Trading to advance USDC services, nets $25M in funding from Digital Currency Group (The Block)
• SEC highlights Binance Chain transaction tracing in new contract notice (The Block)
• The number of Robinhood users holding Kodak stocks soars after Trump admin announces $765M loan (The Block)
• Here’s how Bitcoin’s rally past $11,000 has altered its fundamental strength (Cryptoslate)
• VC: Ethereum has “negative” network effects, needs scaling solutions “NOW” (Cryptoslate)
• China Aims to Be the World’s Dominant Blockchain Power – With Help From Google, Amazon and Microsoft (Coindesk)
• Bank of England Building Payments Network to Support a Potential Digital Pound (Coindesk)
• Binance Confirms Crypto Debit Cards Shipping to Europe (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the day fighting for $11,000 yet again. The sideways movement ranged from the support of $10,855 to a little above $11,090 resistance level. While it is still unsure of whether Bitcoin will end up above or below $11,000, the rally from the $9,000 levels has been extremely successful. As for the short-term future of Bitcoin, it is still unsure, as some analysts call for an immediate correction while others predict a price increase to $11,500 levels.

BTC traders should look for a trade opportunity when BTC bounces off of $10,855 or falls below it.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA and its 21-period EMA
• Price is between its top B.B. and its middle B.B (20-period SMA)
• RSI is elevated (60.82)
• Volume increased (descending)

Key levels to the upside          Key levels to the downside

1: $11,090                                1: $10,855

2: $11,630                                2: $10,505

                                                 3: $10,015

Ethereum

Ethereum broke off from its period of stagnation and moved towards the upside. The second-largest cryptocurrency by market cap moved to $340 before being stopped. ETH is now consolidating just above the previous consolidation phase.

Ethereum traders should look for a trade opportunity after the cryptocurrency moves back below $324 or if it makes another 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 at the top B.B.
• RSI is elevated (66.5)
• Above-average volume (descending)

Key levels to the upside          Key levels to the downside

1: $340                                    1: $302

2: $362                                    2: $289

                                                 3: $278

Ripple

XRP spent its day mostly trading sideways, but also gaining in value slightly. The third-largest cryptocurrency by market cap failed (so far) to break the $0.2454 level completely, but it has approached that event considerably. If, however, XRP doesn’t break the resistance level soon, it might fall back and retest the support level of $0.235.

XRP traders can look for an opportunity when the cryptocurrency breaks its ranging moves to either side.

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 between the top B.B. and the middle B.B. (20-period SMA)
• RSI is elevated (61.84)
• Elevated volume (descending)

Key levels to the upside          Key levels to the downside

1: $0.245                                  1: $0.235  

                                                2: $0.227

                                               3: $0.214

 

The cryptocurrency market mostly traded sideways as Bitcoin was fighting to regain $11,000. Bitcoin is currently trading for $11,065, which represents an increase of 1.2% on the day. Meanwhile, Ethereum gained 0.33% on the day, while XRP gained 0.45%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Travala.com gained 21.78% on the day, making it the most prominent daily gainer. Digitex Futures (16.68%) and Aave (11.94%) also did great. On the other hand, Ampleforth has lost 35.64%, making it the most prominent daily loser. It is followed by Aurora’s loss of 10% and iExec RLC’s loss of 8.31%.

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 63.66%. This value represents a 0.35% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased since we last reported. Its current value is $325.17 billion, which represents an increase of $4.246 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin Is a Better Hedge Against USD Than Gold (Cointelegraph)
• Ethereum’s Adoption Rate After 5 Years Far Exceeds Bitcoin’s (Cointelegraph)
• Bitcoin Scaling Tech Could Have Saved Companies and Users $500M in Fees: Report (Coindesk)
• Data: Institutions are now more involved with Bitcoin than ever before (Cryptoslate)
• Utreexo: ‘re-thinking’ how Bitcoin works to help it scale without a protocol change (The Block)
• As Binance slows down asset listings, Poloniex attempts to retake market share (The Block)
• DeFi lending protocol Aave details its decentralization bid, outlines swap process for new token (The Block)
• Coinbase will now reward users who hold DAI in their accounts (The Block)
• Binance launches crypto trading platform in Australia (The Block)
• Despite Its Hype, DeFi Only Attracts 1% of All Crypto Users (Cryptobriefing)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had another slow day, where it tried to pass $11,000 and consolidate above it. However, while it has passed the threshold, BTC hasn’t confirmed its position above it, making the $11,000 mark uncertain. The $10,855 support level is, on the other hand, a strong support that has been confirmed.

BTC traders should look for a trade opportunity when BTC bounces off of $10,855 or falls below it.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA and its 21-period EMA
• Price is between its top B.B. and its middle B.B (20-period SMA)
• RSI is elevated (62.24)
• Volume increased (descending)

Key levels to the upside          Key levels to the downside

1: $10,855                               1: $10,505

2: $11,090                               2: $10,015

3: $11,630                                3: $9,870

Ethereum

Ethereum spent its day consolidating above the $315 level, finding support at the 21-period moving average. The second-largest cryptocurrency by market cap ensured its position above $302 (at least in the short-term). Its future movement will most likely be determined by Bitcoin’s next move.

Ethereum traders should look for a trade opportunity after the cryptocurrency breaks its consolidation phase.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above the 50-period EMA and the 21-period EMA
• Price is under the middle B.B. (20-period SMA)
• RSI has normalized (56.41)
• Above-average volume (descending)

Key levels to the upside          Key levels to the downside

1: $340                                    1: $302

2: $362                                    2: $289

                                                 3: $278

Ripple

Unlike Bitcoin and Ethereum, the third-largest cryptocurrency by market cap maintained high volume and tried to make a move that would break its current ranging position. XRP first moved to the upside, trying to break $0.2454, but failed to do so, which triggered a reaction from XRP bears. The cryptocurrency then made an attempt to break $0.235 to the downside but failed in doing that as well, therefore “locking” XRP in a range between the two resistances.

XRP traders can look for an opportunity when the cryptocurrency breaks its ranging moves to either side.

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 between the top B.B. and the middle B.B. (20-period SMA)
• RSI is elevated (65.63)
• Elevated volume

Key levels to the upside          Key levels to the downside

1: $0.235                                  1: $0.227 

2: $0.245                                  2: $0.214

                                               3: $0.205

 

The cryptocurrency market mostly traded sideways after major breakthroughs in the past ten days. Bitcoin is currently trading for $10,880, which represents a decrease of 2.76% on the day. Meanwhile, Ethereum lost 3.38% on the day, while XRP gained 2.42%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Aave gained 20.59% on the day, making it the most prominent daily gainer. iExec RLC (20.52%) and THORChain (19.48%) also did great. On the other hand, Ampleforth has lost 16.44%, making it the most prominent daily loser. It is followed by Digitex Futures’ loss of 12.01% and HedgeTrade’s loss of 11.28%.

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 63.31%. This value represents a 1.02% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization skyrocketed and now confirmed its position above the $300 billion mark. Its current value is $320.93 billion, which represents a decrease of $0.06 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Tether Exchange Inflow Reached 8-Month High as Bitcoin Rallied to $11K (Cointelegraph)
• MIT Lightning Creator Unveils First’ Demonstration’ of Bitcoin Scaling Tech (Coindesk)
• DeFi Reinvented the ICO, It Flopped: Assessing the IDO (Cryptobriefing)
• Bitcoin Bears on the Prowl as BTC Options Hit All-Time High (Cryptobriefing)
• Finalized Testnet for ETH 2.0 to Launch on August 4 (Cryptobriefing)
• The new Augur promises to be faster and simpler — and denominated in dollars (The Block)
• A trend of hackers demanding privacy-focused cryptocurrencies as payment may be forming (The Block)
• The future of Robinhood’s crypto products is in doubt amid recent headwinds (The Block)
• Goldman Sachs boosts gold price target, says the U.S. dollar’s reserve status is at risk (The Block)
• Open interest in CME bitcoin futures hits an all-time high of $724 million (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had a rather slow day, unlike the past days, which passed in BTC making significant gains. The volume is slowly fading away while the price is trying to find resistance. Bitcoin fell under $11,000 and is currently consolidating above the $10,855 support level. However, it is still unsure if Bitcoin will stay above it or fall under.

BTC traders should look for a trade opportunity when BTC breaks $10,855 to the downside or $11,090 to the upside.

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA and its 21-period EMA
• Price is between its top B.B. and its middle B.B (20-period SMA)
• RSI is elevated (69.73
• Volume greatly increased (descending)

Key levels to the upside          Key levels to the downside

1: $10,855                               1: $10,505

2: $11,090                               2: $10,015

3: $11,630                                3: $9,870

Ethereum

Ethereum also had a slow day, while its price drop reflected Bitcoin’s drop (percentage-wise). The second-largest cryptocurrency by market capitalization is trying to consolidate around the $315 mark, while its volume is fading. Ethereum has strong support at $302, which might get challenged shortly.

Ethereum traders should look for a trade opportunity after the cryptocurrency is done with consolidating.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above the 50-period EMA and the 21-period EMA
• Price is at the middle B.B. (20-period SMA)
• RSI is elevated (58.66)
• Extremely high volume (descending)

Key levels to the upside          Key levels to the downside

1: $340                                    1: $302

2: $362                                    2: $289

                                                 3: $278

Ripple

Unlike Bitcoin and Ethereum, the third-largest cryptocurrency by market cap had quite a good day, which brought its price above $0.227 and $0.235 resistance levels. XRP made a move, which was sparked by an influx of buyers. The move is still not over, and XRP is fighting to stay above $0.235, though that is unlikely unless the cryptocurrency pushes its price towards the $0.245 level.

XRP traders can look for an opportunity in pullbacks after the bullish move.

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 above the top B.B.
• RSI is in the overbought territory (73.69)
• Elevated volume

Key levels to the upside          Key levels to the downside

1: $0.235                                  1: $0.227 

2: $0.245                                  2: $0.214

                                               3: $0.205

 

The cryptocurrency market spent made yet another boom as Bitcoin passed the $11,000 benchmark. Bitcoin is currently trading for $11,024, which represents an increase of 7.7% on the day. Meanwhile, Ethereum lost 1.04% on the day, while XRP gained 2.85%.

 Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Kava.io gained 14.29% on the day, making it the most prominent daily gainer. Divi (13.17%) and Band Protocol (12.84%) also did great. On the other hand, Ampleforth has lost 23.81%, making it the most prominent daily loser. It is followed by Flexacoin’s loss of 17.11% and Augur’s loss of 11.43%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased since we last reported, with its value currently at 64.33 %. This value represents a 2.78% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization skyrocketed and now confirmed its position above the $300 billion mark. Its current value is $320.99 billion, which represents an increase of $20.52 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin’s explosive rally liquidates over $300M; Strikes major blow to bears (Cryptoslate)
• As Ethereum skyrockets, 71% of ETH addresses are now in profit, setting a two-year high (Cryptoslate)
• Crypto fund expecting “99%” Chainlink (LINK) drop remains controversial (Cryptoslate)
• Coinbase CEO: Exchange Won’t List XMR Due to ‘Issue With Regulators’ (Cointelegraph)
• Ransomware Victims Are Fighting Back Against Their Attackers and Winning (Cointelegraph)
• Huawei Files for a Storage-Related Blockchain Patent (Cointelegraph)
• Tetras Capital Shuts Down Crypto Hedge Fund After 75% Loss (Coindesk)
• Cardano Plummets Ahead of Shelley, Rebound Expected (Cryptobriefing)
• Fueled by bitcoin’s rise, Bakkt reports record high volumes for its bitcoin futures market (The Block)
• ‘It’s a great time to be a bitcoin banker’ says Silvergate CEO during earnings call (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

It’s safe to say that the largest cryptocurrency by market capitalization had another amazing day as it broke a major benchmark of $11,000 and reaching a final price of $11,394 before cooling down. The moment Bitcoin broke $10,000, on-chain activity registered a great increase in exchange inflow, which ultimately led to this fast price increase. During the process, Bitcoin managed to liquidate over $300 million in sell orders.

BTC traders should look for a trade opportunity either with another move up (aggressive) or when the price cools down slightly and makes a top (safer).

BTC/USD 4-hour Chart

Technical factors:

• Price is currently above its 50-period EMA and its 21-period EMA
• Price is slightly below its top B.B.
• RSI is in severely overbought territory (84.33)
• Volume greatly increased

Key levels to the upside          Key levels to the downside

1: $10,855                               1: $10,505

2: $11,090                               2: $10,015

3: $11,630                                3: $9,870

Ethereum

Ethereum looks like it has found its top at $330 after rising in price for the past 6 days. The final move brought the second-largest cryptocurrency by market cap to the highs of $333 before cooling off a bit. Ethereum now seems like it will (if nothing major happens to Bitcoin) possibly head towards the nearest support level to test it.

Ethereum traders should look for a trade opportunity in Ethereum’s pullbacks and confirmations.

ETH/USD 4-hour Chart

Technical Factors:

• Price is above the 50-period EMA and the 21-period EMA
• Price is below the top B.B.
• RSI elevated (64.32)
• 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 quite a stable day as it confirmed its path above $0.214. XRP then bounced up and tried to make a break above the $0.227. However, the move was unsuccessful due to the wall of sellers present. XRP will most likely continue to trade within a range, bound by $0.214 to the downside and $0.227 to the upside.

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 (61.27)
• 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 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.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• 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)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

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.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• 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)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

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.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• 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)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

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.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• 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)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

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.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• 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)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

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.

_______________________________________________________________________

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)

_______________________________________________________________________

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)

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Technical analysis

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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.

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What happened in the past 24 hours?

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• 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)

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Technical analysis

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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