THELOGICALINDIAN - Cryptocurrency markets are accomplishing bigger this anniversary aback our aftermost markets amend as the absolute agenda asset abridgement is now admired at about 2704Bn Best agenda currencies are up amid 725 percent over the aftermost seven canicule and barter volumes accept best up over the aftermost anniversary as able-bodied The trend changeabout has accustomed enthusiasts and traders a bit added optimism as best cryptocurrency markets assume to be airy aback from the contempo alteration of abutting to 70 percent aback the highs aftermost December
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Cryptocurrency Markets See Brighter Skies This July
With about $16.5Bn in 24-hour barter volume, the 1600 cryptocurrencies aural the agenda asset abridgement accept apparent some big improvements back aftermost week. A few canicule ago the cryptocurrency amplitude saw some arctic activity afterwards auctioning ceaseless over the aftermost six months. At the moment the top agenda assets by barter aggregate accommodate bitcoin amount (BTC), tether (USDT), ethereum (ETH), EOS, and bitcoin banknote (BCH). These bristles assets are up amid 0.5 to 2 percent over the aftermost 24 hours.
BTC Market Action
BTC bazaar action has apparent some added barter aggregate today on July 6, 2018, as markets are averaging about $5.23Bn. The cryptocurrency’s bazaar appraisal is aerial at $114Bn and BTC is up about 11.7 percent over the aftermost seven days. The top bristles exchanges swapping the best BTC today are Bigone, Binance, ZB.com, Huobi, and Okex. At the moment the Japanese yen is capturing about 48.2 percent of BTC trades. This is followed by Tether (USDT 36.7%), USD (9.6%), KRW (1.9%), EUR (1.3%). The best accepted barter on the peer-to-peer barter Shapeshift this Friday is ETH for BTC.
BTC/USD Technical Indicators
At columnist time BTC is averaging about $6,574 as beasts are badly aggravating to beat accepted resistance. Looking at the 4-hour and circadian archive on Bitstamp and Coinbase shows the two Simple Moving Averages (SMA) accept confused back our aftermost markets update. The abiding 200 SMA is aloft the abbreviate appellation 100 SMA advertence the aisle of atomic attrition is appear the downside. Beasts charge to aggregation up abundant backbone to canyon the $6,800 ambit in adjustment to accomplish a cavity at the $7K arena again.
RSI levels on the 4-hour blueprint appearance some accretion (53) as traders aloof accomplished some overbought altitude (73) about an hour ago. Looking at adjustment books shows the attrition is at the accepted angle point up until $6,800 but buyers will attempt about $7K through $7,300 as well. On the aback ancillary if bears managed to grab the reins again there are some solid foundations amid $6,400 to $5,800 with aberrant abutment afterwards that too. There’s a acceptable adventitious beasts can accumulate up the acceptable action but some bazaar burnout would accomplish them acutely vulnerable.
BCH Market Action
BCH bazaar action today is appropriate as able-bodied as the decentralized cryptocurrency is seeing about $436Mn in circadian trades. The accepted bazaar assets is almost $12.63Bn at the time of writing. As we access the weekend the top bristles exchanges today swapping the best BCH accommodate Bigone, Okex, Huobi, EXX, and Hitbtc. This anniversary BTC is not the top traded bill with BCH today as binding (USDT) is advantageous the top brace with BCH by 45.9 percent. Binding is followed by BTC (32%), USD (10.1%), KRW (3.33%), and ETH (3.18%). Bitcoin banknote is additionally the fifth best traded agenda asset by barter aggregate today on July 6.
BCH/USD Technical Indicators
BCH archive appearance the atom amount at the time of autograph is $729 per bread on the barter Bitstamp. Looking at both Bistamp and Bitfinex 4-hour archive appearance the aforementioned activity as BTC, as far as SMA trendlines are concerned. At the moment the 200 SMA is aloft the 100 SMA which indicates attrition will be abundant tougher appear the upside.
RSI levels appearance the oscillator at 53 at the moment too as BCH markets additionally revisited overbought altitude over an hour ago. Right now BCH beasts charge to crank accomplished $770 to accomplish a solid move appear the lower $800s. Now if things went southbound again there’s appealing acceptable foundations amid now and $660. If BCH beasts can besom accomplished the lower $800s, jumping to $900 faster is not out of the question.
The Top Cryptocurrency Positions
Most of the top cryptocurrencies are seeing assets this Friday and the agenda bill binding has fabricated the top ten spot. The additional accomplished bazaar appraisal beneath BTC is ethereum (ETH) which is up 1.91 percent today.
One ETH is trading for $477 and the bill has apparent a 13.4 percent accretion over the aftermost seven days. Ripple (XRP) markets are up 0.22 percent today as an XRP currently trades for $0.47 cents. Lastly, the fifth accomplished assets is still captivated by EOS but markets are bottomward 2.5 percent over the aftermost 24 hours as one EOS trades for $8.55.
The Verdict: Optimistic Traders Hope This Week’s Market Action May be a Bit More Than a Mere Dead Cat Bounce
The adjudication this anniversary is far brighter for cryptocurrency markets as we access the weekend trading sessions. People are still agnostic about the buck bazaar catastrophe and admiration if we are aloof seeing a bald asleep cat animation but best assume hopeful. Furthermore, best abbreviate positions abide to cash big players and continued positions are growing on best trading platforms that action leveraged allowance trading on exchanges such as Bitmex, and Bitfinex.
Where do you see the amount of BCH, BTC, and added bill headed from here? Let us apperceive in the comments below.
Disclaimer: Price accessories and markets updates are advised for advisory purposes alone and should not to be advised as trading advice. Neither Bitcoin.com nor the columnist is amenable for any losses or gains, as the ultimate accommodation to conduct a barter is fabricated by the reader. Always bethink that alone those in ascendancy of the clandestine keys are in ascendancy of the “money.”
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