The total market capitalization rose to 202 billion US dollars. With the exception of Bitcoin Cash and Cardano, all crypto currencies recorded gains this week. At the Ether rate and Monero rate it was even over 7 percent.
A tentative recovery is visible, but it is still far too little to speak of an end to the developments of the week before last. However, small cattle also make crap and it is accordingly nice to see that the top 10 have risen by an average of two percent. If one refrains from Bitcoin Cash and Cardano, also all other crypto currencies can enjoy price gains. The market capitalization of all crypto currencies has risen accordingly from 196 billion US dollars to 202 billion US dollars. The week is coined by a ?have eight position? The courses make a neutral to rather bullishen impression, only with Monero it looks throughout bullish. For the most part, it is therefore more advisable to wait and see in which direction the prices orient themselves before opening a long or short position.
The Bitcoin formula has risen by nine percent. This was particularly important after last week’s fiasco. The price of ether has again risen above 200 US dollars. However, as you can see from the chart, the existing downward trend was not broken. In addition, after a bold pump five days ago, the trading volume fell sharply again. However, unlike most of the top 10, with a rising MACD and an RSI that recently came out of the oversold, the impression is bullish. Traders can use the first support at $202.05 as a stop loss on a long position and target the two resistances at $256.81 and $286.00. If the Ether price falls below the Stop Loss, one would have to wait until the Bitcoin formula price slides back below 200 US dollars before opening a short position. As Stop Loss the mentioned Support offers itself again, as Target one can target the second Support with 155.00 US Dollar.
However, the Cardano price has fallen sharply for the Bitcoin trader. Although the downward movement of last week was slowed down, the ADA price has only moved sideways since then. Since its listing on Binance, the price has never reached such low levels that Cardano currently occupies the last place in the Top 10. The MACD line (blue) is currently rising above the signal (orange). Together with an RSI that has recently risen from the oversold, one comes to a rather bullish outlook. The support at 0.06 US dollar described by last week’s price minimum offers itself for a long position as a stop loss. The two resistances resulting from a Bitcoin trader Fibonacci retracement analysis would be interesting targets. If the price falls below the stop loss, you can risk a short position with a tight stop loss. It is difficult to specify a target for this as the price has not yet reached such depths. A rough estimate is that 0.03 US dollars would be a good target.
Stability of the Top 10
The battle between Monero and Cardano will continue: Should Cardano rise above seven percent, the crypto currency could regain ninth place. Dash is also preparing to advance into the top 10. Thus only 10 percent separate the market capitalizations of Dash and Cardano. By way of comparison, this gap is at least 18 percent for the remaining top 10 crypto currencies.
Winners and losers in the price slump
On average, all crypto currencies rose by almost 6 percent. Thus, on average, all crypto currencies performed better than Bitcoin. For the top 100, the result looks somewhat different. But here, too, prices have risen by an average of three percent. The relatively unknown crypto currency Aurora can be pleased about a price jump of 178 percent. With MO