Pause after growth
Thursday showed diverse trading dynamics. Bitcoin price chart (BTC) stays below the resistance level in the range of $4180. Other cryptocurrencies showed similar dynamics. Yesterday, EOS was the growth leader with a change of 1.29% and stopped at $3.85. Ripple (XRP) showed the worst dynamics among popular currencies – it is trading at $0.3216 with a change of -1.48%.
Despite the decline in trading activity, the level of capitalization is still positive. The mark is currently in the range of $134 billion and indicates the willingness of traders to continue to buy.
Thursday’s news background contributed optimism in the cryptocurrency market. The state of Ohio is studying Blockchain for real estate transactions. A similar picture was shown in China. The country will soon launch a platform for the real estate market. And last but not least, Facebook wants to introduce user authentication on Blockchain. We note that social networks are increasingly interested in the capabilities of a distributed registry for convenience and security.
This time, “digital gold” is consolidating below the resistance level. It is possible to achieve support at $3881. If sales start on Friday, then sellers’ power will “drag” Bitcoin to a lower trading range. But if we consider that capitalization prevents the market from sales, then such a scenario is unlikely.
The power of buyers in the cryptocurrency market is still present. There is a decrease in consumer interest, but the level of capitalization is still large enough to activate sellers.