Crypto Top 100 Starts The Week On The Reds, Total Market Capitalization Loses $5 Billion
Crypto Market Recap: 21, January 2019
After yesterday’s crypto dump, the market is still on the downtrend. Monday starts with almost the entire crypto board on the reds with another mini dump earlier during the Asian trading session.
The total market capitalization has dropped again and is now at $119.1 Billion at the time of this writing. For the past 2 days, the market has lost almost $5 Billion and is getting nearer to the lowest level of the year again. The trading volume has been steady during the day at $16.7 but this might be trading in the other direction. The BTC dominance is still at 52.6%.
The Bitcoin, which has led the drop, as usual, is now trading at $3534 and has lost -3.70% on the day. After a week of stability, it has broken thru key support areas that brought it below $3600. On the 4-hour chart, MACD is very bearish, and the RSI is flat around 40. The Money Flow Index is climbing above 50. If it crosses down to $3460 more losses are imminent with the next support at $3320.
Ethereum, too, has failed to hold above $120 and was brought to heel at $116..96 at the time of this writing. Ethereum dumped -5.24% on the day bringing its capitalization to $12.2 Billion with an $800 Million gap against XRP which, un/fortunately is also having a bad day with a -3.43% loss and further control by the bears. Further losses might be in store for the 3rd leading coin should it cross the $112 support.
The rest of the Top 10 have not been spared. Only Tron escaped the scouring by the skin of its teeth with a 2.25% gain on the day. The rest is entirely red and dumping more today. Litecoin has lost most of its gains the other day, and is now trading at $31.17, and losing -5.14% on the day. Bitcoin Cash also hit the fan with a -5.05% loss on the day. Bitcoin Cash price has broken the $125 support level and is under extreme duress at the moment. The remaining crypto are in between 2–4 % hell except for Tether with a minor loss.
For the Top 25, not one has escaped the whipping and most have been duplicating Bitcoin beat by beat. Maker, which has been very volatile recently, has lost -7.99% on the day. NEO is not far behind with a -5.03% loss and trading at $7.57. The rest are painfully feeling the blow at 2–4% loss.
Buggyra Coin is back to the Top 100 with a curious pump at 84.08%. TenX is on a second-day pump with investors feeling the momentum at 23.19%. On the other end, Holo is losing -10.78%.
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 Monday!
Originally published at dna.coinve.st on January 21, 2019.
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