Tanya Abrosimova
Independent Analyst
- Bitcoin (BTC) has settled below $8,700 amid increased bearish pressure.
- Altcoins are mostly range-bound during early Asian hours.
Bitcoin and all major altcoins have recovered from the recent losses; however, the majority of coins are still in the red zone on a day-to-day basis. The total cryptocurrency market capitalization dipped to $240 billion from $245 the day before; the worth of the digital asset of $68 billion change hands daily on average. Bitcoin's market share dropped to 66.1%.
Read also: ABey co-creator keynote speech at the Malta Blockchain Summit 2019
Top-3 coins price overview
BTC/USD has lost over 1.56% in recent 24 hours and stayed unchanged since the beginning of Tuesday. On the intraday charts, the coin is locked in a tight range limited by SMA50 (Simple Moving Average) 1-hour at $8,835 on the upside and $8,650 on the downside. a sustainable move in either direction is needed to clarify the trend.
BTC/USD, 1-hour chart
Ethereum, the second-largest digital asset with the current market capitalization of $20.5 billion, is changing hands at $186.10, down about 1 % since this time on Monday. Looking technically, ETH/USD has recovered from the recent low of $183.96 and may extend the upside towards $186.70 (SMA200 1-hour chart) and $187.00.
ETH/USD, 1-hour chart
Ripple’s XRP moved below $0.2700 handle on Monday, but managed to recover to $0.2734 by the time of writing. The third digital coin with the current market value of $12.1 is moving within a tight range. The recovery is initially capped by the middle line of a one-hour Bollinger Band.
XRP/USD, 1-hour chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.