The market capitalization of the entire crypto-market at the previous week’s level of 204 billion dollars. On a positive note is that the key mark of $ 200 billion is for the time being defended by the bulls.
From Stefan Lübeck
On 7. October 2019BTC$8.209,22 3.68%part Facebook Twitter LinkedIn xing mail
The Top 10 Coins close this week mixed. While the price of Bitcoin is around two percent, can gain the courses of Ripple, EOS, and Cardano around five per cent in value. The majority of the Top 10 Coins to be able to expand this week. Only three crypto-currencies have minor price declines by approximately one percentage point. In addition to the tail light Stellar performance in the final to lose the light of the last week, Bitcoin SV, as well as the Binance Coin slightly in value.
views of the market capitalization
total market capitalization on the Basis of values of Cryptocap shown
tried at the beginning of the week, first buyer, a bullish counter-movement to initiate, but failed already at the 220-billion-US-Dollar-brand. The subsequent days were marked by continuous contributions in the market. On Sunday, the 200-billion-US-Dollar was to run threshold again, and for the time being of the bulls defended. If and when the fight for this brand, it is decided between the bulls and bears for the benefit of the sellers, depends crucially on whether the bulls can make it in a timely manner, to purchase dynamic volume. With every weak day, another sell-off in the overall market faces up to the key support at 173 billion dollars.
Only when the market is attacking the value of the exponentially moving average of the last 200 days in the range of 235 billion US Dollar and back into the sideways channel jumps, should purchases use in a broader mass. Even if the 200-billion-US-Dollar-seems to keep emerging for the time being, the chart continues to be bearish. The Candlestick pattern in the weekly true the chart is also a little confident of the actors on the market are noticeably impressed by the sales of the last few weeks. Also shows that the introduction of the Bakkt Futures currently has in the crypto community desired stabilizing effect.
Best price development: Ripple (XRP)
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rate analysis on the Basis of the value pair to XRP/USD on Bitfinex
The relative strength in the weakness of the previous week, for Ripple to continue. The Ripple rate increases this week to over five percent and has been testing it for several days, the upper edge of the old support area at $ 0.26. Currently, a bearish flag formed since the previous week’s low at 0,213 US Dollar, which could carry the price up to 0,275-0,283 US Dollar. The flag of the upper extending edge, the 23-Fibonacci Retracement level and the super trend from the daily chart. The “minimum” correction of the sell-off in September seems to be for the time being to be the highest of feelings for the cops.
Will break through this resistance zone, however, according to above, would be the target of the resistance area at $ 0.32, comprising an upper edge of the case, the blue trend channel as well as the exponentially moving average of the last 200 days. The more probable variant, however, is still a re-Test of the gray support area at $ 0.20. Also in the coming week, holds the support zone consisting of the last Deep and psychological 0,20-US-Dollar-brand, threatens more a Test of the 0,155 US-Dollar. The chart image from a buyer’s point of view, there is still no clear buy signals. Back in the camper, here the area is to be attained, would of course at least the 0,263 U.S. dollars on a daily basis to break through. Then that would be a maximum target of 0.32 US-Dollar at all possible.
RSI and MACD do not provide clear signals
The Situation in the case of the indicators has not improved this week, although slightly, to the correct thickness it looks but still. The RSI in the daily chart to overcome the threshold value of 45, and is again in the neutral Zone, after the purchase will it looks. Also, the MACD indicator has been solved in the daily chart from the sale area, but since then sideways. The rate increase this week, the Situation has improved in the indicators, however, only slightly. The RSI is increased with a value of 40, compared to the previous week slightly, a buy signal has not been generated. Also, the MACD needs more buying momentum, a new bullishes Signal to show for it.
Worst course development: Stellar (XLM)
rate analysis on the Basis of the value-pair STR/USDT on Bittrex
in mid-September could have the Stellar course a strong upward movement, in the Wake of a possible cooperation with the Cryptocurrency NEO. The correction came promptly and violently and marked a new low for the year at 0,051 US Dollar, the lower edge of the downtrend channel. Since the correction of the downside wave in the Form of a bear flag, which is on Friday, 4 ran. October, was broken down. Currently, the course is struggling with the horizontal Support at 0,0572 US Dollar.
does not hold this support, threatens once again a start-of-year lows. The 0,051 US Dollar, holds a Test of the support zone in the range of 0.040 USD. Therefore, new buying can be used to generate signals, you must retake the course at first, the 0,0611 US Dollar, as well as the 0,067 USD. There, the super trend and the top edge of the bear flag run. Only when it create the cops to break this strong resistance would be a start of the resistance area in order 0,090 US Dollar is at all conceivable. Also on week view it looks still bearish. The weekly candle is in the Form of Dojis indicated continued weakness in a course.
RSI generated for more sell signals, MACD is undecided
The RSI as well as MACD tried in the last 10 days, your sell signals to reduce. However, the RSI is already back down and could not defend the value of 45. The current value is 42 and is thus located again in the bearish area. The MACD still has no new sell signals on, is trending but sideways and can build no strength. Similar shows on a weekly basis, the RSI is with a value of 36, and continues to be very weak. In addition, no Momentum on the MACD, so there is no bullish signals are present.
stability of the Top 10
After the bloodbath of last week, the Top 10 can crypto-currencies recover, the majority of easily. The slightly positive chart development, however, should not obscure the tense price situation in the Top 10 crypto-currencies. The majority of the Kryptos have only a marginal rate improvement. To digest the price slide of the past week, further strength of the bulls. Cardano and Stellar exchange this week, once again, the courts. Stellars weak week development helps Cardano ninth recapture.
winners and losers of the week
could contribute to The weakness of Bitcoin in this week at some of the Top 100 Coins to smaller recovery rallies. Almost half of the crypto-currencies have a price increase. The crypto currency Swipe that was already on the rise in the last few weeks very strongly, with a rate premium of 45 percent to the top. The second largest crypto-currency in the Top 100, Chainlink, has a price increase of 25 percent. Twelve of the Top 100 Cryptocurrencies were able to rise more than ten percent. Among the weakest crypto this week, currencies Lamda with a discount of 41 per cent, and Pundi X with a loss of more than 25 percent. In contrast to the last week, you see, therefore, signs of a slight recovery, which takes several weeks and increase the Swipe, however, are only selectively at individual currencies.
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 Chart of the Altcoin shown-total market vs. Bitcoin, which shows a rather friendly image and trying to leave the trend channel up. The Underperformance of the currency Bitcoin help currencies of the alternative Crypto, an attack on the exponential moving to take the average of the last 20 weeks into the visor. As long as the light-green resistance area is not, however, encounter on a weekly basis to the top, can this positive trend quickly dashed.
A look at the Bitcoin-dominance
did not make The dominance of the Bitcoins it this week to confirm the brand of 670 percent, and slipped to the weekend, also under the important brand in 69,53 per cent. Currently, the dominance fights with the lower edge of the trend channel. The bitcoin dominance’t make it back in the channel and falls through to the bottom, is a start-up of the bottom of the red corrective channel at 67,2 up to 66.7 percent of the points probably. This important support breaks, there is also a plan for a Below the exponential moving average of the last 20 weeks for 65,90%, as well as the several times mentioned 65-percent mark. Only when the crypto-currency should it manage to move back above the $ 9,000, should there again be a rise in dominance. Currently manage currencies, the alternative Crypto to take advantage of the weakness of the Bitcoins for the currency to take market share from. Only a fraction of the mark of 65 percent is likely, however, to ensure a longer-term reversal in favor of the Altcoins.
Bitcoin-dominance on the Basis of values of Cryptocap shown
Corrective upward movement, there is still no all-clear for the bulls
A strong bullisher lock looks different. Although many crypto recovered currencies from the weak preceding weeks, however, it is indicated to date, no real interest on the part of the buyer. Currently it looks at many of the crypto a bearish flag of currencies instead, according to the training. Thus, the Situation is still very fragile. Bitcoin reached a new low for the year, and tests supports below the US $ 7,000, will have this negative effect on the overall market. The 200-billion-US-Dollar-brand acts as a support, however, is a start-up of the Central 180-billion-U.S.-Dollar mark and even the 173 billion US Dollar to continue to schedule. Bitcoin should correct up to 5,000 US dollars, is a Test of the next support at 134 billion U.S. dollars to imagine. It remains accurate to observe at what level the market can stabilize.
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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