Ethereum takes a turn at the wheel with Cardano riding shotgun
The Digital Commonwealth daily brief…
AFTER leading the line for a few weeks, Bitcoin has eased up at a developing line of support around $43,100.
However, the leading cryptocurrency’s breather doesn’t appear to have pulled the handbrake on the rest of the markets, with Ethereum springing into life to match the step of fellow pace-setter Cardano.
Ethereum was, this morning, at $2,400 and up by more than five per cent. Same as Cardano’s ADA at $0.65.
Further down the line, big movers include Chainlink — up 11% at $17.09; and Loopring, weighing in with a 15% lift to $0.35.
While most of the world remains in holiday mode, it’s difficult to predict just where the markets will go during the remainder of the festive season. But they’re certainly showing some signs of being playful. It’s often best to wait until after 2.30pm when the US starts waking up in order to see where it’ll take us.
In the Markets
Total crypto market cap
🔻 $1.72 trillion
🔺2.52%
What Bitcoin did yesterday
🔺 Daily high $44,162
🔻 Daily low $43,486
Bitcoin market capitalisation
🟠 BTC $875.245 billion
🟡 Gold $13.9 trillion
Fear and Greed Index
Bitcoin’s market dominance
42%
Relative Strength Index (RSI)
68
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.
Post Script…
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.
