Fundamental analytics

Crypto currency market displays capitalization growth for the first time in seven days

Cryptocurrencies

Crypto currencies continues to trade under pressure, despite the fact that the market experienced a slight increase in capitalization over the last trading session. Over the past 24 hours, the capitalization of the entire crypto currency market has gained by 3 billion dollars and amounted to a figure of 257 billion dollars. It is also interesting that the main crypto currency markets have reached technically strong levels for middle-term entries, price zone that look quite stable. From the technical analysis point of view, these levels can trigger a new upward impulse. For the bitcoin market, this is $ 6800- $ 6900 zone, for the ether market it is $ 390 per coin.

Let's see how events will develop in the future, however, Tuesday trading session has all chances to become the first trading day when the market closes in the green, and the white daily candle will engulf the body of the black negative candle of the previous day. As for the ether market, the market for three days is trading above support for $ 390 and forms a narrow consolidation in this zone.

According to CoinMarketCap website, bitcoin dominance is still relatively high at 47.7 percent, and given the poor tokens results in recent days, as well as the stagnation of small crypto-currencies over the past week, it can be said that investors are now avoiding trades with high level of risk and high volatility due to uncertainty in the market.

As for the tokens, it is unlikely to see recovery and upward impulses similar to those they experienced during June and July, unless bitcoin and ether can return back to $ 8000 and $ 480 which is unlikely for the current market situation.