Over the past week the capitalization of the market has significantly grown from $218 billion to $235 billion.
The leaders of growth from the top five were the following: EOS (+ 27%) and Bitcoin Cash (+ 19.5%). Bitcoin’s dominance remained, almost the whole week, at 53%. Thus, it is possible to take stock of the Crypto-currency market for the entire summer season. Unfortunately, the capitalization of the market has decreased from the level of $350 billion by almost $ 115billion. Most altcoins have renewed their annual lows during this period.
If to speak about the last week, then a significant event for the whole industry was the news that Yahoo! Finance for US citizens has launched a service to purchase the most popular cryptocurrency: bitcoin, ether and lightcoin. Trades launch from Yahoo! Finance will help increase the liquidity of the cryptocurrency market.
Considering the price dynamics of the fictitious asset in the market — Bitcoin, last week can be recorded in its asset. Bitcoin grew by 7.6% over the week and showed steady moderate upward movement despite all rumors and disputes over the cancellations and revisions by the SEC regarding the launch of Bitcoin-ETF. An indicative point is that the asset was able to break through, and then consolidate above the psychological level of $7000. At the moment, the asset on the daily chart came close to the resistance in the form of an exponential moving average of the EMA 200, which, having beaten off, has every chance to adjust down to the nearest support levels: 6800 and 6600. In case of crossing and securing the EMA 200, the next possible target will be the new levels : 7700 and 8470.

Ethereum also slightly increased last week, showing dynamics in the region of 4.5%. Not supported by the Ethereum course is the news that the Chicago Stock Exchange (CBOE), already in its arsenal of futures for Bitcoin intends to launch trading futures for Ethereum. For the price of ETHUSD, the role of the slant resistance is performed by EMA 21., which, as we see, the asset can not cross from below upwards. The nearest support level is 260, in the case of a breakdown, which opens way down to further decline. A possible downward scenario is also indicated by the lack of divergence on the AO oscillator.

The TSI Analytics Team
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