- The overall market conditions are still facing aggregate price correction activity for the second consecutive day
- The overall market capitalization is currently at $388.56B resulting in a decrease of -1.29% over the day
- The overall volume traded over the last 24 hours is $97.98B making a decrease of -1.15% over the day
Bears Providing Price Damage to the Coins Resulting in Critical Support Areas
From the overview of the market, BTC is onto regaining its positive momentum after reviving its buying volume from the support level of $13000.00. Meanwhile, Ether is now arriving at its major support point of $370.00 after a break below the crucial mark of $400.00. Looking at the performance of major altcoins, Chainlink is into losing all the gained momentum to the resistance level of $13.00 and currently looking critical to break below $11.00. Binance coin, NEO, EOS, Litecoin are some other digital assets that are facing continuous negative momentum.
The crypto king was able to bounce back quickly just after breaking below the crucial mark of $13k. It had a day low of $12980.06 which helped BTC to revive its positive momentum. Currently, it is having an overall gain of 0.37% bringing the CMP to $13,204.06 with the market capitalization of $244,666,860,569 and the 24-hour volume traded of $33,331,458,965. If BTC is able to sustain and further capitalize on the current positive move, we might expect the price levels to test the major resistance level of $13800.00 again.
Ether is onto losing bullish levels gained during the whole month. The downtrend has forced the price levels to arrive at the major support level of $370.00. A break below this support level will certainly provide more price damage to the world’s second-largest digital asset. However, the concern for ether doesn’t end here. The price levels were highly unstable during the past occasions above $400.00 which has created doubts over its recovery action. The CMP is at $375.95 with a loss of -3.20% bringing the market capitalization to $42,563,619,374 with the 24-hour volume traded of $15,222,100,835. The ETH/BTC pair is also facing negative momentum of -3.47% bringing the current level to 0.02849845 BTC.
Litecoin is trying to prevent a break below the crucial mark of $50.00 facing an overall loss of -5.21%. The LTC/BTC pair is also on a significant downtrend with a loss of -5.71% bringing the current level to 0.00399663 BTC. The CMP is placed at $52.68 with the market capitalization of $3,464,504,665 with the 24-hour volume traded of $3,092,108,888. A break below $50.00 will surely weaken the positive sentiment and the well-known resistance level of $50.00 for LTC can again haunt the bulls.
XRP has broken below $0.24 which is signaling significant bearish momentum in the market. However, on the downside, the crypto asset is still having strong backing by the support level of $0.22. The CMP is placed at $0.233373 facing an overall loss of -4.10% bringing the market capitalization to $10,563,891,988 with the 24-hour volume traded of $2,491,884,370. The XRP/BTC pair is also facing a significant downtrend with a loss of -4.64% bringing the current level to a critical support area of 0.00001767 BTC.
Chainlink has broken below the crucial mark of $11.00 again and is facing a loss of -5.50% in the current market session. The CMP is placed at $10.87 with the market capitalization of $4,233,201,682 and the 24-hour volume traded of $1,758,103,399. The LINK/BTC pair is still performing negatively with a loss of -6.08% bringing the current level to 0.00082137 BTC. As of now, there are no signs of the revival of buying volume for the crypto asset and we may expect further downfall in the coming trading sessions.