Major Coins Trading Sideways, Bitcoin Deepens Under $10,000
Major cryptocurrency markets are reporting mixed signals, with Bitcoin being bearish following the launch of Bakkt’s physically delivered futures.
Market visualization. Source: Coin360
The leading digital currency Bitcoin is down 1.55% on the day to trade at about $9,813 at publishing time. During the day, BTC has been trading in a narrow corridor between $9,788 and $10,097 — the lowest and highest price points of the coin over the day.
As Cointelegraph reported in a dedicated analysis earlier on Monday, if Bakkt momentum picks up, Bitcoin prices could see resistance about $10,630 on the day. On the other hand, support on the weekly Bollinger Bands sits about $7,700. If this level is broken, the price needs to hold $7,150 before the monthly moving average is breached.
Bitcoin 24-hour price chart. Source: Coin360
Ether (ETH), the second-biggest cryptocurrency by market capitalization, is slightly down by 0.2% over the day, trading at $207.07 at publishing time. The major altcoin saw its highest price point over the week on Sept. 19, reaching $223.70, with a weekly low of $191 on Sept. 16.
Ether seven-day price chart. Source: Coin360
Conversely, XRP is in the green today, having gained 2.68% to trade at around $0.280 at publishing time. The third-largest coin traded at about $0.258 on Sept. 16, which was XRP’s lowest price point on its weekly chart, while the high was $0.323 on Sept. 18.
XRP seven-day price chart. Source: Coin360
On the top 20 cryptocurrencies list, Chainlink (LINK), Tezos (XTZ) and IOTA (MIOTA) are major gainers, up 3%, 4.22% and 4% respectively. Major losers are Stellar (XLM) and Monero (XMR), which are down by more than 3%, while Algorand (ALGO) has lost 5.93% on the day.
The total market capitalization of all cryptocurrencies is at $265 billion at publishing time, up from a weekly low of $259 billion earlier on Monday.
Total market capitalization of all cryptocurrencies: Seven-day chart. Source: Coin360