More Declines This Friday On The Crypto Market, Most Coins In The Red
Crypto Market Recap: 09, November 2018
Recovery has been placed in the back burner once again as the crypto markets continue its decline from yesterdays drop. The market is teeming with reds and any little gains that the altcoins have earned is now back in the drain.
The market capitalization has dropped to $213 Billion, minus $3 Billion when we last published our market recap. The Trading Volume is stable at $13.9 Billion but the Bitcoin dominance is once again inching back up at 52.1%.
Bitcoin price has gone down to $6467 at the time of this writing and continues to go down. It started dropping down during the day starting at $6538 and lost about a hundred dollars throughout the Asian market session. It is still consolidating above the $6300 major support level which is still good news. Should the downtrend continue, it might test $6440 in the short term and since we’re pushing to the weekends, if push comes to shove, down to $6362. On the other hand, the new resistance is back at $6507. The volume remains stable at $4.6 Billion but the signs are pushing for more losses in the short-term. On the 4-hour chart, the MACD is down the bear zone and the RSI has hit oversold.
Ethereum also started going down for the past 24 hours — reaching $222 before hitting the downward trend. It lost -1.59% on the day and currently trading at $213. Like the Bitcoin, it has gone intensely bearish for the short-term. The next support is at $209 and resistance is at $214.
The remaining top 10 are feeling the pain with only Stellar on the green at 2.88% and trading at $0.259. Stellar is having an airdrop at the moment with Blockchain.com. The rest are in selloff with Monero leading as the biggest loser at -2.71%. Others are not so far behind with Bitcoin Cash losing -2.39% on the day, Litecoin losing -2.12%, and Cardano with -2.07% loss.
The top 25 crypto is also feeling the pinch. Dogecoin is consistently on top of the losing team this week and has lost another -8.94% today. Team 0x is down at -5.52%. VeChain, Dash, and IOTA is losing more than 2%. The rest are at 0–2% loss except Zcash. Zcash has played well in the Asian trading this morning going as high as $135 before coming down to $133.65 with a 3.88% gain on the day.
Down the list on the Top 100, we have reds bleeding the streets. Still, there are the usual pumps and dumps with Revain back on the list. It has gathered 12.56% gain on the day. Wax completes our double-digit gainers list at 10.29% gain, and barely outside the 10% is Eternal Token, with 9.28% heading downwards from 35.49%. It should dump soon as is the pattern with these coins. On the other end, we have Basic Attention Token losing -15.55%.
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 9, 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.
