The BTC quotes on Monday are hovering near 30,313 USD.
The market failed to continue skyrocketing though it still had all reasons to do so. Last week, the resounding victory of Ripple over the SEC in court provided the cryptocurrency sector with a mighty momentum. More than that, the crash of the USD also facilitated the flow of money to digital assets.
The technical boundary at 31,150 USD was tested but the next one at 31,500 USD remained intact, pushing BTC back.
The daily price chart is giving signals for a decline. It is high time to turn to the support level near 29,800 USD. For the flagship cryptocurrency to start growing again, it needs to secure above 31,000 USD.
The cryptocurrency market capitalisation amounts to 1.220 trillion USD. The BTC share remains at 48.5%, while the ETH share has dropped to 19.1%.
Free Reports:
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Coinbase capitalisation rose noticeably
The capitalisation of the Coinbase cryptocurrency exchange has increased to 25 billion USD from under 7 billion USD at the beginning of the year. Just last Thursday, the capitalisation of the exchange platform surged 20%.
The total cost of Cardano TVL reached its annual high
The total cost of assets blocked in smart contracts (TVL) of the Cardano network increased to 209 million USD. This is the annual high. In January this year, the digit was assessed at no more than 50 million USD.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- Japanese yen shows volatility amid speculation of intervention Apr 29, 2024
- COT Bonds Charts: Speculator Weekly Changes led by 5-Year & 10-Year Bonds Apr 28, 2024
- COT Stock Market Charts: Speculator Bets led by VIX & Russell-Mini Apr 28, 2024
- COT Soft Commodities Charts: Speculator Bets led by Corn & Soybean Meal Apr 28, 2024
- Today, investors’ focus is on the PCE Price Index inflation report Apr 26, 2024
- Gold price recovers amid uncertain US economic outlook Apr 26, 2024
- This “Bullish Buzz” Reaches Highest Level in 53 Years Apr 26, 2024
- FastSpring and EBANX Forge Partnership to Expand Pix Payments for Digital Products in Brazil Apr 25, 2024
- Target Thursdays: NAS100, Robusta Coffee, USDCHF Apr 25, 2024
- QCOM wants to create competition in the AI chip market. Hong Kong index hits five-month high Apr 25, 2024