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Quite start to busy trading week for the cryptos

Sep 25 2018, 02:45 AM (+06) | Fortfs.com

On September 18, within six days, the crypto currency market added 34 billion to the capitalization. Today, this trend has somewhat weakened. After a short-term rally, on Monday Bitcoin slightly retreated on technical factors, which led to other sales-off fact that other major crypto-currencies fell by 3 to 5 percent. Today, we see a slight decline in the capitalization of the entire market, possibly caused by a weekend in Japan and China.

On Friday, bitcoin approached the important technical levels - this is the $ 6760 zone, we want to note this zone especially, this is a very important resistance area and we have no doubt that this mark will require more efforts from the market to overcome.

On Monday, bitcoin recorded a small loss and retreated to the zone of demand $ 6530 - the first tactical support. Ether, bitcoin cache, ripple and stellar showed losses in the range of 3 to 5 percent, while IOTA recorded the largest decline among the major crypto currencies. IOTA declined by more than 8 percent.

Today starts the last September trading week and although it is still too early to draw the main conclusions, we can accurately assume that Bitcoin showed stability during September, being above the strategic level of $ 6200- $ 6000.

On Thursday and Friday, Ripple demonstrated an impressive gain in the price. The third crypto in terms of capitalization briefly took the second place in the list. However, profit taking pulled this market lower. Ripple met the new trading week around $ 0.56. The decline continued at the start of the American trading session, - Ripple traded at $ 0.50. The decline in the price supported by a decrease in the volume. On Friday, the capitalization of the ripple was at around $ 26 billion. Today, the capitalization of this crypto currency lowered to level $20 billion. However, the overall technical picture for this crypto is still positive.

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