Market Update: Cryptographic analysts remain uncertain after the first trading week of 2019

Market updates

Since the last update of our markets, cryptocurrency markets have consolidated in a narrow range and have been less volatile in recent days. The market capitalization of the entire cryptocurrency economy earned about $ 5.7 billion and some of the best currencies saw some price jumps this week.

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Cryptographic markets consolidate, but some coins see earnings

As the first week of 2019 comes to an end, digital currency prices this Sunday are much less volatile than the last two months of 2018. At the time of publication, the entire cryptocurrency market valuation of all over 2000 coins digital assets amount to about $ 131.7 billion. Since the holidays and the first annual "Proof-of-Keys" day have passed, the volume of global trade has steadily increased. There are about $ 15.8 billion of cryptocurrencies in global trade today through popular exchanges and ripples, litecoin and stellar are the best artists this weekend. Currently, the digital core bitcoin assets (BTC) is trading for $ 3,869 and market prices have increased by 0.03% in the last 24 hours. BTC captures approximately $ 4.9 billion in cryptography worldwide and has a market valuation of approximately $ 67.5 billion.

The second highest market capitalization on Sunday is held by ethereum (ETH), which today is down 2.6%. However, in the last seven days, ETH has gained 10.3% and an ETH is trading at $ 153. Ripple (XRP) is growing today with a 0.36% earned in the last 24 hours, but the week shows a loss of about 2.8%. An XRP is trading for $ 0.35 and holds approximately $ 424 million in the volume of digital asset exchanges in the world. The token eos (EOS) still holds the fifth largest capitalization, but litecoin (LTC) is not too far behind. An EOS is trading at $ 2.76 and the markets are up 3.8% this week. The EOS markets have increased today to 0.79% and the markets are also registering 761 million dollars of trade. As mentioned above, LTC has significantly exceeded 7.8% today and 19% in the last seven days. LTC managed to get the sixth largest market rating this week.

Bitcoin Cash market share (BCH)

<img class = "alignright wp-image-271359″ title=”Market Update: Cryptographic analysts remain uncertain after the first trading week of 2019″ src=”https://news.bitcoin.com/wp-content/uploads/2019/01/djjdjdj.jpg” alt=”Market Update: Cryptographic analysts remain uncertain after the first trading week of 2019 "width =" 150 "height =" 150 "srcset =" https://news.bitcoin.com/wp-content/uploads/2019/01 /djjdjdj.jpg 200w, https://news.bitcoin.com/wp-content/uploads/2019/01/djjdjdj-150×150.jpg 150w "sizes =" (maximum width: 150px) 100vw, 150px”/>Bitcoin liquidity markets (BCH) improved a lot last week and prices have consolidated into a rather narrow range. Currently a BCH is trading at $ 160 per currency and the markets are down 1.4% in the last 24 hours and down 1.2% for the week. The best cryptocurrency exchanges that exchange the most bitcoin cash today include Lbank, Hitbtc, Binance, Huobi and Coinbase. Statistics on currency pairs show that the Tether (USDT) captures 48.3% of global trades with BCH. This is followed by BTC (18.5%), ETH (16.9%), USD (8.9%), EUR (3%), JPY (2%) and KRW (1.3%). The EUR pushed a lot, which is traditionally a sign of bullish movements ahead. BCH holds the eighth largest trading volume today under the zcash markets (ZEC) and just above tron ​​(TRX).

Technical indicators BCH / USD

Looking at the daily chart and the 4-hour chart on Bitstamp, you notice some tight Bollinger bands and signs of deep consolidation. Currently on the 4-hour chart, the Relative Strength Index (RSI) is snaking in the middle between the oversold and overbought regions at -47.8. Stochastics and MACd show similar readings and it seems that traders are uncertain about which direction the next wave will take.

The two Simple Moving Averages (SMA) still show a decent gap between the 100 short-term SMA and the long-term 200 SMA. The 100 SMA is well above the 200 SMA indicating that the path to lower resistance is still on the upside. Ordering books on some of the most popular exchanges show that the BCH bulls must exceed the $ 170 range to gain some momentum. On the back, there is ample basic support between the current vantage point and the $ 140 region.

The verdict: while some analysts see positive signs, others are not so optimistic

It can safely be said that most traders are awaiting further confirmation of a bearish change in bullish trend or another decline in encryption prices. Some people believe they have noticed a positive trend change between cryptocurrency prices and the validation of some bullish divergences in recent weeks. Mati Greenspan, Etoro's senior market analyst, exposed his thoughts on the current trend of the cryptocurrency market on 3 January. "The gains on most of the popular cryptographic activities have been pretty minor lately," Greenspan emphasized. "While it's good to see that bitcoins are stable, we're actually starting to see a more typical aspect of the market during an upward run."

However, analyst of the digital currency market Willy Woo he explained on 5 January that bears could still hold the kingdoms. "The initial false volume peak signaled a faster detoxification and a front end to the bear market, but in reality, it was a side effect of volatility – That move from $ 6k to $ 3k created an immense commercial volume, but it was not in no way does one signal that the accumulation volume had begun, " Woo told his Twitter followers.

The analyst continued by saying:

From that moment the volume has ceased. Leaving the NVT chart on the high side of its swing around the main move down – the basic thing here, according to my interpretation, is on the high side of its band, so I think a move up is limited, the bears will win more to long-term commercial.

Where do you see the price of BCH, BTC and other coins from here? Let us know in the comments below.

Disclaimer: Price items and market updates are for informational purposes only and should not be considered as trading advice. Neither Bitcoin.com nor is the author responsible for any losses or gains, as the final decision to conduct a trade is taken by the reader. Always remember that only those in possession of private keys have the control of "money".

Images via Shutterstock, Trading View, Coinlib.io, Bitstamp and Satoshi Pulse.

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