After the market had fallen capitalisation of the crypto-market at the beginning of the week on the brand of 268 billion dollars, increased the market value at the end of the week by 5.4 percent to 315 billion US dollars. The dominance of the Bitcoin price remains more close to the year highs of 65 percent.
From Stefan Lübeck
8. July 2019BTC$11.862,00 4.36%part Facebook Twitter LinkedIn xing mail
On the market consolidated sideways. During the weekend the rates of the Top-10 at jump-Altcoins together with a rising Bitcoin price, but the majority of. While Bitcoin (BTC) has gained a good 2 hours before the end of the week candle 6.8 percent, can also convince, the number two Ethereum (ETH), with an increase of 5.2 percent. The winner of the week and a new number 10 among the Top Altcoins is Tron (TRX) with a week plus of just under 11 percent. However, Litecoin (LTC) and Cardano (ADA), with losses of around 3.5 percent in the expiry week, the only weekly loser among the Top 10 Coins. Eight crypto of the Top currencies-10 can go in tow with the key currency Bitcoin. Also in the week shows once again that the Altcoin-correlate courses currently strongly linked to the Performance of the Bitcoins. The ALT/BTC pairs, however, must continue to be springs, and not make it so far, a change of trend in the direction of an Altcoin rally to initiate.
Even if the market capitalisation of the week revised higher on Wednesday to $ 15 billion, has been on the market for the week, closing with a Plus of a good 5 percent and acts for the time being, continue to be very robust against temporary price corrections of the last time. The major support area at around 280 billion US-could the Dollar be on a weekly basis, defended. Thus, the positive bullish picture of the total capitalization of the crypto-market is still intact. A Weekly close above the psychologically important mark of 300 billion dollars should allow a new increase in opportunities in the direction of the old highs from April 2018 in the case of 440 billion dollars. However, the mark of 325 billion US-Dollar in a timely manner to the top broken. In addition, the weekly performance of the Altcoins to achieve this, the total market capitalization continue to be a decisive factor.
The course of developments in the Top-10 Coins look in comparison with the last week more enjoyable. The majority of the Coins recorded moderate single-digit rate increases. In addition to Tron (TRX), which is displaced by a strong increase of 11 per cent Stellar (XLM) from the Top-10, in particular to mention the positive price development of Ethereum to. Also the weakest of the Coins of the last week EOS and Bitcoin SV (BSV) recorded gains of more than 3 percent. Ripple (XRP) concludes this week, is the only Coin with a Plus of 0.1 percent, virtually unchanged.
Best price development: Tron (TRX)
A strong rise for the week end to help Tron to a double-digit rate of profit and the reconquest of the tenth ranking place. The chart image looks, thanks to a strong daily candle on the last day of the trading week, positive. After the resistance of the downtrend line at 0,0328 US Dollar was broken in mid-week to above, could also affect the Retest of the super trends, course supportive. Currently, the price is struggling at the horizontal resistance at 0,0359 US dollars, the marked at the same time, week high. Tron manages to break this level upwards, there are high chances to re-increase up to the range to 0,0405 US Dollar, the year-to-date. The parent is Tron currently is in an upward trend channel, the channel upper edge is at the 0,0421 US-Dollar-brand. Also In this area a Demand and Supply Zone from the year 2018.
The RSI to the MACD indicator is currently conflicting signals. On a daily basis, the rising RSI indicator shows a value of just under 54 with a bullish bias. He creates the break-up of the 55 on a daily basis, this indicated a very strong Trend. The MACD indicator shows on a daily basis, however, continues to be a bearish trend. On a weekly perspective, the MACD has a bullish character. The Bollinger bands on the day as well as week-based on bending and is currently running slightly uphill. There’s currently no good trading setup offer, must be observed in the Chart for the time being. A breakout from the trend channel to the upside would lead to a reassessment of the Situation.
Worst course development: Litecoin (LTC)
does not terminate The consolidation of the strong bullish movement of Litecoin (LTC) in may and June, it seems for the time being. After the price target of US $ 144 on 22. June has been processed, is of course, after another failed bullish counterattack in the last week, still in correction. The price of Litecoin (LTC) fluctuated this week in a 13-percent Range between 127 US $ 112 US dollars and respected chart, the triangle formed in the daily. The course falls on a daily basis from the triangle and under the 115,82 US Dollar, a re-Test of the area around 107 US dollars, which is also where the 50% Fibonacci Retracement of runs in Level, probably.
Currently, the support area from the horizontal support and the lower edge of the triangle is still Holding, should hold this support, and Litecoin to profit from the rise of Bitcoin, would be a re-Test of the upper edge of the triangle in the range between US $ 125 and 126 U.S. dollars to imagine. A break of the triangle to the top would enable a re-Test of the highs for the Year around $ 140. Another stay in the currently diminishing price range indicates in any case a strong eruption of the course.
The indicators currently in a continued bearish trend, might stabilize, but in the coming week. The MACD indicator currently has a slightly falling character, however, hardly place down. The RSI indicator is moving sideways currently a little directionless, what can be explained with the very small Range of the last 3 days explain. There’s currently no sufficiently good probability, say the triangle is whether the price will go up or down leaves, it is said to also be observed in the case of Litecoin to continue the Course exactly and only in the case of a breakout from the triangle, go for a Trade.
the stability of the Top 10
After a weak start of the week, the market capitalization of the Top Coins rose for the weekend average mid-single-digit price to win again slowly. The rankings of the Top 10 Altcoins change in the past week, only slightly. According to the already in the last week Cardano (ADA) Stellar (XLM) be able to drive to a place that has managed to do this week, Tron (TRX) in the top ten Coins, and so Stellar for the time being, from the Top-10.
winners and losers of the week
The Top 100 crypto-currencies have again this week a very different picture; you can make profits on a weekly basis due to isolated strong rate overall, with an average of 3 percent. The majority of Altcoins, however, had to cope with this week’s price markdowns. As in the last couple of weeks, is a potential capitulation in the Altcoin/Bitcoin Charts to date. Many of the Altcoins look compared to the Bitcoin continues to weak. Also this week, a good 66 percent of the Top 100 Coins to record below the closing price of the previous week.
the winner of The week, Walton chain (WTC), can capture a price increase of 72 percent. Also Lamda (LAMB) shows up after a long consolidation again and wins on a weekly basis, a good 50 percent. Among the losers of the week, in particular, the still very young Coin Algorand (ALGO) to cite having a discount of 30 percent. Also Dent (DENT) that was already found last week among the under performers, it loses more than 20 percent of their value. A view across the Top-100 indicated a very mixed picture and is not currently sustainable altcoin rally suspect.
A look at the Bitcoin-dominance
The Bitcoin-dominance currently lingers at 64,76%, just below the important mark of 65 per cent. A break of this resistance and the continuation of the bullish trend movement will activate the target price in the range of 70 per cent mark. Bitcoin is currently still the most popular investment in the crypto market. Currently a wide-scale change in Altcoins is not continue to to. Increases in Altcoins instead of find, as in the last couple of weeks, at best, selective. Currently there are a lot of seat meat, and the rest are asked to wait for a sustainable reversal of the trend in Altcoins. Bitcoin ends the positive trend of the expiry week, the Altcoins will gain retained again, whether or not recorded, however, by the Bank’s gains will be, remains to be seen. A falling Bitcoin dominance at preferably equal to the market capitalization of permanent Total a first positive indication of a changing investor would behave.
Disclaimer: The information on this page is the illustrated rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.
The chart images were on 7. July 2019 by using trading view created. To be considered, the value pairs TRX/USD bitfinex.com and LTC/USDT on binance.com as well as the total market capitalization of Cryptocap
USD/EUR exchange rate at the time of writing: 0,89 Euro.
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