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The market capitalization of all cryptocurrencies was valued at $ 513.7 billion, and Bitcoin held a 62.92% share of that valuation. Although Bitcoin Dominance has declined in the past few days, it has been in a steady uptrend since the beginning of mid-September. Ethereum boasted a market share of $ 59 billion, a number that can be expected to increase in the coming months as the shard chains develop. In the short term, Ethereum was strongly pushed up from the support at $ 480 and was trading low in volume over the weekend. Tezos was in a consolidation phase and Algorand would likely have been pushed back to the $ 0.31 resistance level.
Ethereum [ETH]
Source: ETH / USD on TradingView
Ethereum was trading on remarkably low volumes over the weekend. The price fell to $ 480 on its $ 620 retracement, and was pushed strongly upward.
Over the past couple of days, it has been possible to see a rebound in the price with the price forming a series of higher lows. However, the RSI showed that momentum was strongly in favor of bears.
$ 500 is a strong psychological support level, and therefore a close below the ascending trend line can be expected to drop to $ 500. Lower wicks are likely to be bought.
Tezos [XTZ]
Source: XTZ / USD on TradingView
The Tezos hourly chart showed relatively narrow Bollinger bands around the price. Combined with low trading volume, XTZ was in a consolidation phase above the support level at $ 2.29.
The recent, strong bearish move was preceded by bullish momentum, for XTZ through November, after finding its local low at $ 1.81 a few weeks ago.
XTZ can be expected to be heavily influenced by the movement of Bitcoin and Ether, with the medium-term bullish trend.
Algorand [ALGO]
Source: ALGO / USD on TradingView
The 20 SMA (white) was on the verge of crossing below the 50 SMA (yellow), while the Awesome Oscillator also showed that momentum was on the side of the bears.
The Chaikin Money Flow showed that capital was exiting the market in the face of selling pressure.
Overall, ALGO was unlikely to move up from the resistance level at $ 0.31 and could fall towards the support at $ 0.25 in the coming days, although $ 0.28 is also a demand region.
