Bitcoin and Ethereum stall at key levels, but JASMY looks full of beans

THE Bitcoin rally of the past week seems to have lost momentum at the $52,000 price level. The market leader is trading for $51,900 this morning, down by around 1% over 24 hours. 

Ethereum looked like it would break through the $3,000 level yesterday but also stalled overnight, hovering around $2,910 this morning.

Next-gen cryptos such as Avalanche, Solana and Chainlink are deeper in the red, also shedding their weekly returns. 

One cryptocurrency furiously swimming against the tide, though, is JASMY. Often lauded as ‘the Japanese Bitcoin’, the Ethereum-based token has stormed to the top of Coinbase’s ‘biggest movers’ charts with an 8% lift to $0.0091 in 24 hours - up 53% in a week, and a staggering 81% in 28 days.

The Relative Strength Index continues to retreat from its overbought position, sitting at 49 this morning, a way off from 70 and above where it was last week. 

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In the Markets

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Total crypto market cap

$1.98 trillion (+1.86%)

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What Bitcoin did yesterday

 Daily high $52,025 |  Daily low $51,354

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Bitcoin market capitalisation

$1.02 trillion (-0.91%)

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Bitcoin volume

$21.68 billion (+12.23%)

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SP500

-0.48%

Fear and Greed Index

74 (Greed) 

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Bitcoin’s market dominance

53.06

The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.

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Relative Strength Index (RSI)

49.47

Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.

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Post Script…

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Cautionary Notes

It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

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