Prices rise for 90% of all crypto
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Prices rise for 90% of all crypto

By Federico Izzi - 8 Oct 2019

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This is the second consecutive day that crypto prices rise: more than 90% of the first 100 cryptocurrencies per market cap are in positive territory.

Source: COIN360.com

In particular, among the first 40, only a red sign emerges. Like yesterday, it is the price of the LEO token that recedes by a further 1%. After falling below the dollar, today it is at $0.94 cents. The events of the last few hours involving Bitfinex and iFinex have a negative impact on the LEO token directly linked to both companies.

On the other hand, the rise in crypto prices marks about +5%, even for the top 5: Bitcoin Ethereum, XRP, Bitcoin Cash and Litecoin. The best is Ethereum which rises by more than 5%.

EOs chart by Tradingview

EOS was also very good, rising 6% and testing $3.20, levels that had not been recorded since the end of September, before the sinking that characterized the final part of the month. EOS is just a step away from testing the downward trendline that began with the annual highs of 2019 at the end of May, a trendline that is currently passing through the area of $3.40.

Cosmos chart by Tradingview

Among the big ones, the increase in the price of Cosmos (ATOM) stands out, returning to the top 20 of the most capitalized cryptocurrencies, gaining more than 13% and once again reaching the threshold of $3 dollars, in contact with the bearish trend that highlights the current movement and that has characterized the last three months. Cosmos, violating the bearish trendline, would open spaces to attack the highs of mid-September at $3.50 dollars. 

On the other side, among the few downturns of the day, the unknown token Yost (YOST), Karatgold Coin (KBC), in 56th position and Factom in 93rd position, all losing about 2%.

Capitalisation rose slightly, gaining $2 billion dollars, reaching almost $223 billion.

The dominance of Bitcoin is still a few decimals down and rises to 66.6%. Ethereum’s capitalisation remains tied to an 8.8% market share, while Ripple tries to exceed the highs of the last hour above 5.4%, levels it has not recorded since last July.

Bitcoin chart by Tradingview

Bitcoin price (BTC)

Bitcoin tries again to attack the $8,400, trying to put behind it the last weeks characterized by a movement in a sideband. A break sustained by buying volumes of $8,400-8,500 would open spaces to test the resistance in the $9,200-9,500 area, a former support area that throughout the summer had managed to repel any bearish attack before the lunge that characterized the last days of September.

On the contrary, a return below $7,800 area would attract downward speculation and the return of Bears and Sellings, with the danger of going to test the $7,200 levels abandoned last May.

Ethereum chart by Tradingview

Price Ethereum (ETH)

Ethereum attempts to stretch beyond the $185 levels tested in the last few hours. A break sustained by the volumes in the purchase would open up wide spaces and increase the chances of going up by going to test the psychological area of $200. 

A return of weakness with prices below $165 could invalidate the current upward collection and put in serious crisis the bullish trend of Ethereum, still valid, even if the last falls in August and September begin to crunch the current trend started by the lows of late 2018. 

 

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. Since May 2017 he is officially a Bigbit technical analyst. 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".

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