The 5th day with the lowest crypto trading volume since the beginning of the year is behind us. Since yesterday, there has been a significant decrease in cryptocurrency trading, which however takes place in a very positive context. It is a signal to be followed very carefully in the next few hours and days.
Today, half of the cryptocurrencies are in green. If we look at the first 30 cryptocurrencies, only 6 have positive signs, while bitcoin, at slightly over 1.2%, remains close to its annual highs.
Binance Coin has the same upward intensity and is close to the absolute records set on June 13th, a step away from $36.5. Worth noting, in particular, are LEO and Monero, which rise above the 3% threshold, while Bitcoin Gold scores a +3.5% and Dogecoin scores a rise of 1%.
The most impressive rises are around the 80th position where we find MaidSafeCoin (MAID) rising by 18%, followed by DigixDAO (DGD) and Egretia (EGT) rising by 14%.
Zilliqa keeps going down and scores -8%. Even Grin, after the strong rises, drops 6% and slips into 92nd position.
Among the top 25 cryptocurrencies, the ones with the biggest drops are Bitcoin Satoshi Vision (BSV) at -5%, Cosmos (ATOM) in 16th position at -4.5% and Zcash slipping by -3% after having scored the 2019 highs yesterday.
In an uncertain and technically unclear environment, the market cap continues to remain close to 290 billion, now at 287 billion, a positive signal in the overall context.
Bitcoin maintains its market share at 53%, as do Ethereum and Ripple which remain unchanged from yesterday.
Bitcoin continues to hold its ground above the psychological threshold of $9,000, but without giving any bullish signals that would come with the levels of Monday, June 17th, when bitcoin reached $9,500.
To find a clear bullish signal it is necessary to have a return of trading volumes. But from this point of view, bitcoin records the lows of the last three months. It is necessary to go back to March to have a day with such low trading volumes.
Downwards, bitcoin currently maintains the bullish structure: only a drop below 8,200-8,000 dollars would be of concern.
Ethereum continues to fluctuate at $265 without providing the necessary extension beyond the $280 which would definitely result in the bearish head and shoulders figure that has now been in a congestion of $10 since last Saturday. This does not technically help in finding a bullish extension.
Downwards, Ethereum must remain above $255, a threshold that if violated would not exclude a return to the test $230, a support threshold that rejected the bearish test four times last May.