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Since yesterday, the cryptocurrency market valuation has not changed much since it is still around the same levels as yesterday's analysis, which is about $ 133 billion. However, we can see today the first signs of weakness while the evaluation interacted with the horizontal resistance level and followed a descending trajectory, as expected.
- Market Cap: $ 133,280,816,683
- 24 hours a day: $ 16,949,176.338
- BTC Dominance: 51.1%
Looking at the global chart you can see that since yesterday's opening, which was $ 127.775 million, the valuation has been steadily increasing until it reaches the lowest horizontal level, which is why the market is green today with a medium percentage. of change among the first 100 coins that go around 1.8 -2.7%. The biggest gains are Chainlink with an increase of 15.94%, Augur with an increase of 14.65% and DigixDAO with 12.51%.
As a result, Bitcoin's market dominance is steadily declining and yesterday fell to below 51% when the market capitalization valuation peaked at $ 135.251 million, but has now remained above 51, 1%.
BTC / USD
Since yesterday, when the price of Bitcoin was $ 3920 at its lowest point, the cryptocurrency increased by 4.19%, rising to $ 4084.3 at its highest point yesterday.
Looking at the time table you can see that the price has entered the sellers as the price approached the previous high neighborhoods. At the beginning of the minor retracement, the price has returned to the lower horizontal support level in which it is seeking support and it seems that support is at least for now. But since the momentum is clearly slowing down, another downside can be expected for the price of Bitcoin or at least a more lateral movement, as the move to the top may not end. We could see another rise up to the bold black line or the 5th point of arrival of the wave that would be $ 4267 before the downward continuation continues.
Market sentiment
Technical indicators of the Bitcoin hourly chart report a purchase.
Rotation points
S3 2592.0
S2 3290.0
S1 3592.0
P 3988.0
R1 4290.0
R2 4686.0
R3 5384.0
LTC / USD
From the start of the day, the price has dropped from $ 34.38 to $ 33.56, where it is currently. Now, since the price has not managed to exceed the previous high of a significant amount and the large wicks have appeared from the upper side indicating the pressure of the sellers, we are seeing the end of the correction of Minuette WXY which would also be the end of the X wave of Minute. RSI also reported that the price was reaching the conditions of overbought as it was at 71.29% when the price rose up to $ 34.970.
Minuette correction could be prolonged by two other waves, in which case I would expect the second wave X to land on the minor upward support line and the Z wave to reach the Fibonacci level at 0.786 for proper interaction, but as final waves end on the top, you need to expect another disadvantage when it ends. I do not think there will be two more waves as the price action and CSR confirm that the price has entered the territory of the sellers.
Market sentiment
Litecoin is located in the purchase area as indicated by the hourly chart technical indicators.
Rotation points
S3 13.668
S2 23.135
S1 27.518
P 32.602
R1 36.985
R2 42.069
R3 51.536
EOS / USD
From yesterday's low to $ 2.7 the price of EOS rose by 11.37% measured at the highest point yesterday when the price rose to $ 3.013.
Looking at the hourly chart you can see a similar situation on the Litecoin chart. After an impulsive move, we are now probably seeing a correction that I have labeled as WXY. The current upward move that is probably over is the X wave from that correction, which means that from here we expect another disadvantage for the price of EOS, but the & rsquo; price target remains unclear with so many possibilities.
Market sentiment
EOS is in the purchase area.
Rotation points
S3 0.9397
S2 1.8385
S1 2.2666
P 2.7373
R1 3.1654
R2 3.6361
R3 4.5349
