Bitcoin Stable This Friday, Ravencoin Flies Again As Altcoins Begin Another Trek Back To Gains
Crypto Market Recap: 02, November 2018
The crypto market is still mostly green for the whole day today though some coins have dropped out with the usual dump after a pump. The altcoins are beginning a recovery and the Bitcoin dominance is showing some improvement though still barely there and there’s not enough volume to support it.
The market capitalization remains at $205.5 Billion with the same $10 Billion trading volume. As mentioned, The Bitcoin dominance has gone down a bit and is now at 53.7%.
The Bitcoin price is slowly rising and is now at $6409. Yesterday, we saw a good upward movement against the dollar. It corrected lower but bounced again and has now passed yesterday’s resistance at $6400. Looking at the 4-hour chart, the MACD is nicely above the bullish zone, the S/RSI, though is going down below 80. The Money Flow Index is slightly flat leaning to going up. The major support level is at $6335 and the resistance is now at $6495.
Ethereum, as usual, does not present a different story as it follows the Bitcoin path. It is now above $200 and it remains to be seen if it will continue on this trajectory to recover back to at least $219, the next biggest resistance after it hurdles through $205.
Down the Top 10 list, everything is green but hardly moving below 1%. Litecoin, XRP, and Cardano are the biggest movers slightly above 1%. Monero is the only one on the reds but very marginal at the moment. The past month has not been good to Monero as it lost 10% falling from $116 to today’s $103.68.
We have better news on the Top 25 altcoins. 0x has gained 4.82% on the day and trading at $0.822 -almost back to $1 where it’s been 3 weeks ago. NEO is at 3.23%, beginning a recovery though still with very far to go as it has lost 20% for the month of October. Maker, one of the winners of October is making good with 2.47% gain on the day and trading at $628.41. For the rest, we have greens at 0–2% except OmiseGo losing -0.79%, as well as another negative day for Dogecoin at -0.19%.
Further down below the Top 100, we have a mix of reds and greens. We have another pump from Ravencoin at 15.95%. Ravencoin seems to be a regular visitor on our pump and dump list for the entire October. A far second winner is Basic Attention Token at 7.57%. Down south, we have another set of regular visitors in the pump and dump section, Dentacoin, which is losing -15.94% on the day, and Digitex Futures dumping at -9.37%.
So overall, things seem to be stable at the moment. We await the altcoins in pushing the momentum and granting more positive vibes over the weekend, the bulls might be able to recruit more volume to push for a better week for the second week of November.
Anyhow, this is today’s market recap to give you a glimpse of what happened on the crypto markets while you were sleeping. Trade safe, and have a great Friday!
Originally published at dna.coinve.st on November 2, 2018.
CoinDNA is an educational website that aids users in research, the first step of their investment journey, providing insights to help navigate investment decisions, including market data for individual tokens, a daily market report, and custom frequently-asked analytics.
