HomeTradingPrices of the main cryptocurrencies are in red once again

Prices of the main cryptocurrencies are in red once again

The prices of the main cryptocurrencies return to drop. Unlike yesterday morning, when there were some green signs, today, scrolling the list of the top 30 coins for capitalization, only Nem (XEM) is preceded by a green sign, climbing over 2%.

XEM is certainly in countertrend with respect to the quotations of the other main cryptocurrencies, continuing the rise after having touched the annual low last Sunday morning.

Today, on Coinmarketcap’s list, Bitcoin Cash SV (BSV) enters the scene, debuting in 7th position in the ranking with just under $2 billion, surpassing Litecoin (LTC) by over $200 million.

Among the worst is Ethereum Classic (ETC) to take first place on the podium with a double-digit drop. Performing similarly are Ethereum (ETH) together with the small group of Tron (TRX), Cardano (ADA), Monero (XMR), Neo and Zcash (ZEC). All at a loss between 7 and 8% from yesterday morning levels.

Capitalization drops reaching again $120 billion, the lowest level in the last 12 months updated on Sunday morning.

Bitcoin dominance loses one point and falls to 53%. The market share of Ripple is just above 11%, and Ethereum falls just below 9%.

Source: https://it.tradingview.com/symbols/BTCUSD/

Bitcoin (BTC)

The rebound that began on Sunday morning and yesterday saw a 15% rise in the values of prices on the bitcoin was not enough.

This morning the bitcoin price returns again below 3800 dollars, a step away from updating the lows of the year just below 3700 dollars.

The general situation continues to remain precarious. The volumes continue to remain interesting despite the prevailing technical signals of expectation.

A break of $3700 dollars would project prices first in the $3500 area and then $3200. Only above 4200 dollars the situation would be less worrying.

Source: https://it.tradingview.com/symbols/ETHUSD/

Ethereum (ETH)

ETH seems to replicate what happened at the beginning of the month with prices above 200 dollars: missing the support of 110 dollars, the prices are now based on the support between 100 and 105 dollars.

Failure to hold this level would open further bearish spaces up to area 85, the next medium-term support. Some bullish action in the short term is possible only above 120 dollars.


Federico Izzi
Federico Izzi
Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".