Although the start of the week started in a positive, non-managed total market capitalization of the Bitcoin Ecosystem this week, however, to overcome the resistance at 268 billion dollars. The capitalization bounced off the downward trend line down and consolidated to the current level of 258 billion dollars. Thus, it could be generated a new week high, compared with the previous week, on a weekly basis, a week plus of the total remains, nevertheless, to note market of just under six percent.
From Stefan Lübeck
9. September 2019BTC$10.336,19 -0.62%part Facebook Twitter LinkedIn xing mail
The rates of the Top 10 crypto-currencies this week look a little more friendly and be able to record price gains, while the Bitcoin-dominance decreases. Eight out of ten of the Top 10 Coins have a single-digit premium, only Stellar starting of the week again, and falls again from the Top 10 crypto-currencies with highest market capitalization.
Also, Ripple (XRP) can not connect the positive sign this week. Information about a further Transfer of 500 million Ripple Coins from the Escrow Wallet to the Ripple network has once again led to some discontent in the crypto-community. However, EOS shows a strong week’s performance and win by almost ten per cent in value. Also, Bitcoin, Cash, Litecoin, and Ethereum will be able to convince with solid price increases of between six and eight percentage points.
The Bitcoin Ecosystem: A look at the market capitalization
total market capitalization on the Basis of values of Cryptocap shown
After three weak weeks, the overall market can compete this week relatively well and the week will end in the Plus. The support area between 230 and 240 billion dollars is a strong support. On the upper side of the resistance brand is limited, however, to continue at 269 billion US dollars so far, more course fantasies in the Bitcoin Ecosystem, especially in this area and now the downtrend line course limitative.
It therefore continues to be of a level determination phase needs to be spoken. As long as the market capitalization on a weekly basis can not break this resistance mark according to the above, there is still the risk of a price slide below the support zone at 230 billion dollars. In the case of breaking this support, a re-Test of the brand, the market capitalization of the Bitcoin Ecosystem at 223 billion dollars, as well as the elementary major Support at 180 billion US dollars, probably would.
Because can not solve the total market capitalization is now in the third week in a row, decisively, from this key area, is a strong and potentially sustainable breakout, whether up or down, is increasingly likely. This outbreak should provide information about where the crypto-market in the coming weeks, will move. Can’t make it Bitcoin continues to break the 11,000-US dollars-brand to the top, I see a further weakness in the overall market as more likely. Positive remains to be noted that no new week lows generated and the Altcoins from the cross-market price decline of 6. September is quite good to recover.
Best price development: Eos (EOS)
rate analysis on the Basis of the value pair EOS/USD on Bitfinex
Eos managed this week to defend its support zone and was successful in 7 on. September, decided to resolve the. With a week plus of almost 10 percent to 3.78 U.S. dollars, the sixth cryptocurrency claims to Bitcoin in order of the Top 10 crypto-currencies at best. Currently, the price is fighting with the super trend from the daily chart. Eos manages to break the area around 3,85 dollars upwards, will decide a Test of the downward trend line at US $ 4 on the Course. This resistance line breaks, the goal of 4.27 US dollars, the 38-Fibonacci-Retracement of the entire downward movement is enabled as the destination. Also this brand should be successfully taken, it could come at a very relevant Test of the old resistance zone 4.70 U.S. dollars. There is also the exponential moving is currently the average of the last 200 days. As long as this strong resistance area is not broken through, it is just a recovery in the higher-level downward movement.
For me, it is, therefore, a close Reshort in the field of 4,61 USD with a Stop Loss at 4,90 US $ and Take Profit at 4.05 US dollars.
The RSI and the MACD-indicator in the daily chart have generated after weeks of weakness again light buying signals. Both indicators are rising, the RSI has broken the 55 up and is currently strong. The MACD is on a daily basis since last Sunday, the 8. September, also, a buy signal is generated and rises slightly. On a weekly basis, both indicators continue to have a bearish tone. The RSI is a rate with a value of 43, rather than the directionless, only a fraction of the 45 to the top of the picture brightens somewhat. The slightly slower MACD is chart in the Week but currently still short, which is why I’m looking at a more sustainable bullish movement of the Eos at the moment as unlikely.
Worst course development: Ripple (XRP)
rate analysis on the Basis of the value pair to XRP/USD on Bitfinex
Ripple is currently difficult to evaluate. On the one hand, again with a 500 million Coins from the Escrow Wallet to the Ripple Foundation were thrown on the market, which led, especially among the Ripple-Fans displeasure and concern about the future course of history. This News is probably responsible for the XRP is this week, is a under performer.
chart-technically, the Ripple has been able to defend considered to be a rate, however, is now three Times the support area at 0.25 US Dollar successfully. In particular, the lower Bollinger Band in the daily chart the price is currently Holding. This breather, however, should not obscure the fact that the price of the third largest crypto-currency after Bitcoin and now all the resistance from the super trend at 0,284 US Dollar, the old resistance area at 0.322 US Dollar as well as the exponential moving average of the last 200 days at 0.34 US Dollar in front of the chest.
It is likely to be therefore, really difficult for the Ripple rate, a sustainable bullish counter-initiate.
Also, here is a re-Short in the area of the 0,283 US, therefore, is to favour the Dollar. The possible objectives of the year were low at 0.236 US Dollar as well as the Demand Zone at ~0,21 dollars. The Stop Loss should be placed at 0,305 US Dollar.
Both of betput indicators, the RSI and the MACD on the daily chart remain bearish signals. The RSI was able to settle out of the week lows, although slightly, is listed but is still below the 45. Only a fraction of this threshold, as well as in the optimal case, the piercing of the 55 could provide further upside potential. The MACD in daily chart is trending also sideways. This bearish picture solidifies chart in the Week. RSI as well as MACD are weak and selling on signals.
stability of the Top 10 in the Bitcoin Ecosystem
After three weak weeks in the Top 10 Coins can be recorded this week, in part considerable price premiums. Up to the middle of the week, eight out of ten Coins had double-digit price gains, were then sold off, but on Friday evening, together with Bitcoin. In contrast to what has gone before the Rebound was followed this week, however, in a timely manner, and new buyers came into the market. The weak week in the case of Stellar, the cryptocurrency cost the tenth place. Monero made with a price increase of seven per cent as two weeks before the jump to square ten.
winners and losers of the week
The altcoin market this week, a bit more friendly. A good half of all the crypto-currencies have on a weekly basis, a course plus. Among the winners rather unknown crypto to be found this week, currencies from the third row. With a price premium of 93 per cent to 2.7 million US-dollars in sales, the crypto-currency XMax is the Top leading 100 list this week. The objective of this project is the provision of computing power to the Blockchain is. With a week plus of almost 30 percent at the same time very strong weekly turnover of 200 million US dollars in the project Cosmos caused a stir.
it remains to be seen whether this remarkable volume, the sustainable rate may ensure retention. The loser of the week in the Bitcoin Ecosystem quark chain is at a discount of 33 percent. The REN-Token must cope with a discount of 27 per cent, a significant fall in the share price. This, after all, a good half of the Top 100 crypto-currencies have a rate impact, lets hope that the crypto can stabilize the market at this level. To date, however, it is a straw fire in the still fragile altcoin market.
total market capitalization exclusive Bitcoin on the Basis of values of Cryptocap, as well as on the Basis of the value pair is BTC/USD on Coinbase.
The week’s candle in the Chart of the Altcoin total market vs. Bitcoin may have this week is a Doji. The lower edge of the support area was used for altcoin purchases, and of course could remove the crucial from the week’s lows. This buying interest, however, should not obscure the fact that this week marked a new low for the year. It is to be hoped that the Comeback of the Altcoins falls together this week again. The penetration of the moving average of the last 200 weeks would lighten the Situation. Wait and see seems to be for the time being, continue to the right currency.
A look at the Bitcoin-dominance
The Bitcoin-dominance was able to highlight to 73.41 per cent this week, a new high for the year, corrected, however, during the weekend and was quoted last week in the case of 72,12’s percent. Thus, the dominance of non-managed once again to break the broader uptrend channel upward and fell back, in consequence of something. In the last issue mentioned bull flag was left up and the dominance remained above the break level at 71,42 per cent, however, did not make it Bitcoin, the target of 75,32 per cent dominance of the process. Currently it looks as if the pressure to the top is to the end. To Support this change but still nothing, only a fraction of the 69 percent on a daily basis to the bottom of a bearish trend could trigger a reversal in favor of the Altcoins. As a key brand for a more sustainable trend change in the 65 percent range is still crucial.
Bitcoin-dominance on the Basis of values of Cryptocap shown
at The end of this calendar week it looks to a possible stabilisation in the altcoin market. To what extent this is sustainable, or again only a small recovery is remains to be seen. Investors who want to in the medium term to invest, should continue to wait for clearer signals. As long as no buy signals in the daily chart triggered, is in favour of Waiting on the sidelines to continue.
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 have been using trading view created.
USD/EUR exchange rate at the time of writing: € 0.91.
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