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Cryptocurrency Prices, News and Technical Analysis
- Ethereum collapses further as ICO sellers continue
- US federal judge states US securities laws cover ICO
Cryptomurrency Market in Turmoil [19659005] Heavy sales continue unabated in [19659006] the cryptocurrency market with E theum and Bi tcoin Cash among the hardest hit and both down by around 10% in the last 24 hours. Ethereum collapsed in the last week, rising from a maximum of $ 282 last Wednesday to a current level of $ 171. The token continues to hit negatively by the sell-off in the ICO market – mostly based on the blockchain ether – which saw the constant sale of ETH. Furthermore, yesterday a US ruling that ICOs are covered by US security laws has added to the negative sentiment. While ICOs will be judged on a case-by-case basis, the decision allows the SEC to exercise criminal proceedings against the dropping companies.
It has become increasingly difficult to find true levels of technical support in a market that has been reorganized and collapsed in such a fast time. The old support levels were easily interrupted and, in most cases, the criptos returned all or most of their rallies between late 2017 and early 2018. We identified some support levels last week – with a deep discount on the place where the tokens were traded – and we have already lowered Ethereum further.
Indicative support levels for cryptocurrency Starting September 6
Bitcoin (BTC) – – $ 5,622 (mid-November 2016) – Currently $ 6,249
Bitcoin Cash (BCH) [19659006] – Area $ 340 (mid-October 9, 2017) – Currently $ 420 [19659019] Ethereum (ETH) – $ 200 (mid-September 2017) – Now $ 112 – $ 140 area – – Currently $ 171
Ripple (XRP) – Area $ 0.20 (mid-December 2017) – Currently $ 0.255
Litecoin (LTC) [19659006] – $ 40 area (End of August, 2017) – Currently $ 49 [19659032] Prices of Bitcoin (BTC), Ether (ETH), Ripple (XRP) continue to decline – September 6
L & # 39; Price Analysis of Bitcoin (BTC) and Ethereum (ETH) remains negative – September 10
Ethereum (ETH) Dai Price Chart – Remains very negative – (September 12)
Retail sentiment remains heavily distorted
Bitcoin's market dominance continues to push hig back her and is currently around 57.6 % while the altcoin market has a greater success. Bitcoin remains the pre-eminent cryptocurrency and this deadline is helping to protect BTC from the worst market drop. Looking at IG Client Sentiment Indicator shows us the positioning of retail in various cryptocurrencies and how this can be used as a general indicator of the market. The daily and weekly position changes give us clues about changes in opinion, but the general approach is that trade remains very long in a market that continues to make new lows for the year.
Bitcoin – Traders are 76.9% net.
Ethereum – Traders are 91.4% net.
Ripple – Traders are 95.5% net.
Litecoin – Traders are 91.7% net. [19659019] Bitcoin Cash – Traders are 86.8% net.
We watch Bitcoin and other cryptocurrencies at our weekly Webinar on the weekly cryptocurrency every Wednesday.
Cryptocurrency Trader Resources – Accounts, guides, indicators of sentiment and webinars for free practice
If you are interested in negotiating Bitcoin, Bitcoin Cash, Ethereum, Litecoin or Ripple we can help you start your journey. We have a Introduction to the Bitcoin Trading Guide together with a Free demo Account so you can practice trading on this volatile asset class.
IG Sentiment Data shows how retail is positioned in various cryptocurrencies and how changes in holdings can influence market sentiment.
What is your opinion on the last market crash ? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @ nickcawley1 or via e-mail at the address [email protected].
— Written by Nick Cawley [19659006] analyst .
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