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Market Watch, April 18th
Today, Bitcoin again overcame the psychologically important mark of $ 7,000, having managed to reverse the downtrend. However, the daily chart shows that the market is still maintaining a neutral trend, and for the final transition of the initiative to the bulls of the first cryptocurrency, it is necessary to gain a foothold above the 10-day high in the region of $ 7400. Technical indicators indicate the desire of the bulls to take control of the situation – RSI (Relative Strength Index) is above 50 and is directed upwards, MACD (moving average convergence / divergence) is gaining momentum in the bullish zone.
If buyers remain active, the first serious resistance level will be the zone of $ 7240 and then $ 7400, $ 7500, $ 7676 and $ 8000. In the case of a downward movement, Bitcoin is waiting for support levels of $ 6800, $ 6600, $ 6500 and $ 6319.
Altcoins from the top 100 by capitalization are traded in the green zone. The best dynamics are demonstrated by Hyperion (+ 16.67%) and DigiByte (+ 15.71%). The first is growing amid the announcement of a successful audit of network security systems. The leaders of the fall are ABBC Coin (-1.30%) and Holo (-1.05%).
The cryptocurrency market capitalization rose to $ 203 billion, the level of bitcoin dominance is at around 64.0%.
- Bitcoin — $7104.51 (+1.46%)
- Ethereum — $170.58 (+0.71%)
- XRP — $0.189033 (+0.04%)
- Tether — $1.00 (+0.26%)
- Bitcoin Cash — $234.32 (+2.15%)
- Bitcoin SV — $195.29 (+1.87%)
- Litecoin — $42.35 (-0.07%)
- Binance Coin — $15.77 (+2.10%)
- EOS — $2.63 (-0.31%)
- Tezos — $2.13 (+6.52%)
📍 KuCoin cryptocurrency exchange in partnership with the DigitalBits protocol will open an over-the-counter trading platform called Enterprise Currency Desk (ECD). The development will be useful to companies that are interested in making money in the field of blockchain and DeFi.
📍After the March decline, the capitalization of the DeFi-finance sector increased again. At the moment, it is more than $ 1.12 billion, according to the portal DeFiMarketCap. Top 25 coins are currently showing growth.
📍 The Wyoming State Insurance Code has been amended to allow state insurance companies to invest in a number of digital assets, including Bitcoin. Also included in this list are virtual currencies and digital securities.
📍 Philippines-registered TBCoin cryptocurrency project was found fraudulent. The organizers of the scheme promised to “eradicate poverty” around the world and presented TBCoin as a revolution for the global financial system. They developed the so-called “concept of abundance”, according to which the price of a coin grows in proportion to the number of investors.