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Crypto Market Wrap: The Tedium Continues, When Can We Expect a Breakout?

Avatar Martin Young 8 months ago
Crypto markets sleeping on Sunday; Zero movement on the majors, Litecoin getting a lift, Binance Coin still buoyant.

Market Wrap

The crypto market tedium continues as the weekend rolls into Sunday. There has been no movement whatsoever for most cryptocurrencies over the past 24 hours and pretty much the past seven days. Total market capitalization is still cemented at $130 billion.

Bitcoin hasn’t even made it to its resistance at $3,900 which could be a sign that steam is running out and a further dump is imminent. BTC continues to consolidate between $3,830 and $3,870 but daily volume has remained stable at $7.5 billion.

Ethereum continues to slowly weaken losing a little more every day. ETH is now down to $135, marginally lower than yesterday’s levels. Over the past week it has mirrored Bitcoin’s actions and remained in a sideways channel. XRP also slowly slides lower and is currently priced at $0.316.

Litecoin is the only crypto in the top ten doing anything during today’s rather lethargic Asian trading session. LTC has added 2.7% and has the third largest volume of all cryptos right now. It has managed to get back close to $50 and is closing the gap to EOS which hasn’t moved at all over the past few days.

Binance Coin is still climbing with another percent today taking BNB over $11.50. The move has enabled it to flip both Stellar and Tron and hold eighth spot. Stellar has dropped the most in the top ten with a slide of 2.4% on the day.

Nothing is going on in the top twenty either. NEO has dropped the most at just over 2% and Dash has added one percent, the rest are static.

Digitex Futures Tops the Charts

There are no major fomo pumps occurring at the moment but Digitex Futures is currently the top one hundred’s top performer with a pump of 11% at the time of writing. The run up to the public launch of the exchange appears to be driving momentum at the moment as DGTX has made 40% over the past week.

Enjin Coin is also having a good Sunday run with a pump of 8% on the day and Aurora is not far behind adding 7%. There are no major dumps going on at the moment but the worst performing altcoins in the top one hundred at the moment are Quant and ABBC Coin dropping 8% a piece.

Total market capitalization is stuck at $130 billion and has not budged since last Sunday’s big dump. The chart is a flat line at the moment and the consolidation continues as we round out the week. A big move could be imminent and all signs at the moment are bearish as crypto assets still lull around their lowest levels for over a year.

Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.

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