In today’s market overview, we focus on Bitcoin, its channel, and the inability to break the $ 7,000 resistance. Monero is gradually growing and in 2020 is (as one of the few Altcoins) still in the plus.
Crypto market currently has a total market value of $ 190 billion. The decline from high in 2020 is $ 116 billion and bitcoin dominance is 65.1%.
The best growth yesterday was:
Bytecoin (BCN) $0,000247 USD (14,70%)
Zilliqa (ZIL) $0,004251 USD (5,78%)
RSK Infrastructure Framework (RIF) $0,052316 USD (4,04%)
TRON (TRX) $0,012473 USD (4,38%)
The biggest drop was recorded:
Nervos Network (CKB) $0,004817 USD (-8,36%)
Quant (QNT) $4,72 USD (-6,84%)
v.systems (VSYS) $0,025000 USD (-7,57%)
Steem (STEEM) $0,173276 USD (-5,90%)
World markets yeterday
SP500: -1,51 %. NASDAQ: -1,41 %. OIL: +8,5 %. GOLD: +0,3 %. DOW J.: -1,69 %
[BTC / USD] In 2020 to present value: -5,5%
Bitcoin stayed at $ 6,790 on Sunday. We are currently seeing a slight decline from Saturday’s values, but we are still close to resistance. For two weeks, Bitcoin has been on a defined channel. We still have a valid resistance of $ 7,000. We see support at $ 5,800.
Resistance remains a big problem for bulls. As you can see on the chart, we have seriously tested it for the second time, but did not break it again. The longer we wait, the better it will be for bears. Investors are assert in their idea that it will not go above and leave their long positions – followed by a fall to $ 5,800.
[XMR / USD] In 2020 to present value: + 19.54%
Monero is one of the few coins of the top 100 capitalization, which is still in plus in 2020. The current value is $ 54 and the chart shows a growing channel that led it to $ 54-56 resistance. It is hard to say what it will look like on Bitcoin because it fails to break $ 7,000.
At the moment, Monero will have similar resistance to Bitcoin and will decide next week. Obviously, world markets will also be very much involved in this, and we will all be interested in how the business day starts on Monday. In recent weeks, world markets have also been quite influenced by Bitcoin, which follows their movement. Unless there is a significant market drop, neither Bitcoin will fail and the market will stabilize. Monero will continue to grow calmly.
Selected coins from top capitalization yesterday:
Bitcoin (BTC) $6 177,23 USD (-0,02%)
Ethereum (ETH) $131,97 USD (-0,41%)
Litecoin (LTC) $40,26 USD (-0,43%)
[crypto coins=”BTC,XMR” columns=”2″]