technical analysis altcoins

Cryptocurrency Market Update: All Quiet During Sunday Trading

Avatar Martin Young 12 months ago

FOMO Moments

Markets are sleeping again this weekend; only Veritaseum and Ravencoin going anywhere.

Sunday has seen a small upward shift in crypto markets as predicted in yesterday’s market update. With a series of small higher lows over the past 24 hours market capitalization has crept back over $210 billion.

Bitcoin has climbed back over $6,500 again but is only up around half a percent on the day. There are no solid signals for movement in either direction as BTC looks to stay here for a while as it faces solid resistance at this level. Ethereum is a similar situation with a one percent gain to $207 during Asian trading today.

The altcoins are mostly green at the moment but as in previous days gains are very small. In the top ten Bitcoin Cash has made the most progress with a 2% rise to $450. The rest have made between zero and 1.5 percent on the day.

The top twenty is a very similar pattern with Zcash making the biggest gain of 3.4% to trade at $126. Some altcoins such as Dash and VeChain have not moved at all but most are up around a percent since this time yesterday.

Today’s fomo pump is Veritaseum which has entered the top one hundred and is surging 33% at the time of writing. Tomorrow it will probably be the opposite for VERI. Ravencoin is also doing well at the moment with a 22% climb as is Bytom which has jumped 19% on the day. Nexo has made 13% and Siacoin is also in double figures with a 10% gain.

Two altcoins are topping the red end of the chart with CyberMiles and Digitex Futures both losing over 6% right now. Losses are very small for the rest of them.

One percent has been added to the total crypto market capitalization which currently stands at $211 billion. Trade volume has dipped below $10 billion again and things are still very slow and very sideways in crypto land. Bitcoin dominance as dropped a touch to 53.6% but none of the top altcoins are showing any significant movements this Sunday.

FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

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