Cryptocurrency market update – the recovery stalled, Bitcoin is still under $8,000

• Bitcoin has gained over 4% of its value, but $8,000 remains unbroken.

• Litecoin is the best performing cryptocurrency of the day, up nearly 12%.

   

• Bitcoin and all major altcoins stay in the green zone after a sharp recovery during late Monday hours; however, the critical levels remain unbroken, and the upside momentum looks to be fading away. The cryptocurrency market capitalization climbed to $254 billion from $243 billion on Monday; an average daily trading volume increased to $64 billion amid growing volatility on the market.

 

Top-3 coins price overview

• BTC/USD touched $8,088 on Monday before retreating to the area under $8,000. The first digital asset has gained over 4% in recent 24 hours before entering a consolidation pattern below the said critical resistance.

• Ethereum, the second largest digital asset with the current market capitalization of $26.1 billion, recovered to $245 handle after a drop below $230 on Monday. The coin has gained nearly 5% in recent 24 hours, improving in sync with the market.

• Ripple's XRP tested area above $0.40, but the breakthrough proved to be unsustainable. The third largest coin with the current market capitalization of $16.8 has gained nearly 2.5% of its value form this time on Monday to trade at $0.3953 by press time.

The biggest market-movers

• Litecoin (LTC) is the biggest winner of the day. The 12th largest coin with the current market capitalization of $7.9 billion has gained nearly 12% in recent 24 hours to trade at $128.52 by press time.

• Cardano (ADA) is also a strong performer today. The coin is changing hands at $0.0848, with over 6% gains.

  

   

Tanya Abrosimova

FXStreet

 

David