The Capital
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The Capital

Cryptocurrency Market Review To Become A Better Expert

By Rubika Ventures on Altcoin Academy

Hi Rubikators✌🏻. Knowing the market cycle, we can observe that the first days of each time the volatility of the cryptocurrency market remains neutral.

Anyway, the news that surprised us very early was about Ripple. It was announced by Bitpay that until the end of the year they will be accepting this asset as part of the payment within the platform.

And of course, we will not miss this event. We have seen the opportunity to enter between 2978 and 3050. Enjoy the next rise on the sea! 💪🏻😉.

Also, Ripple Xpring is launching anew developer platform to make moving money easier as reported siliconangle.

The Xpring Developer platform allows any developer to integrate payments into their application whether currencies or cryptocurrencies, the latter with initial support for Ripple XRP and Ethereum.

The platform uses open-source technologies, open protocols and open networks complemented with developer tools, services, and programs to build with XRP and the Interledger Protocol, as it was related.

We know that with the above, you must be begging not to read more news that makes you lose your mind. Quiet, today we will be more considerate. Then you can smile. For now, we want to tell you how the market has behaved in recent days.

Total Market Capitalization & Sentiment

Over the last 24 hours, total market capitalization dipped from ~$222.9 billion to ~$219.2 billion, with most coins seeing losses in the ~2–6% range.

24-hour volume registered ~$51.7 billion in that time, according to coinmarketcap. And for the moment, the feeling of the community, in general, shows according to alternative.me a slight recovery.

The social network that has had more activity these days has been twitter according to augmento.ai.

Monthly & Daily Bitcoin Perspective

Bitcoin is currently trading at ~$8,260, down ~2.2% over yesterday.

It seems that Bitcoin is likely to head back down to test the $8,000 support zone. It’s gonna be interesting to see if Bitcoin can stay above this level, which it broke to the upside of back in June.

On the daily chart, the 50-day EMA line is close to crossing to the downside of the 100-day EMA line, and RSI is at ~28.6 (indicative of strong bearish momentum). Anyway, continue in an accumulation zone between $ 8k and $ 8.3k.

The monthly graph of Bitcoin does not show us a positive signal so far of a possible reversal. It remains in a low channel and the mixed indicators for now only show neutrality. Volume, in general, is low.

Studying the EMA 21 we can see that the next support is close to $ 6821.

See you in the next story, With Love 💛, Rubikators Team.

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