The market saw some sell off for the day but the market cap has leveled off at $125.00 Billion. Bitcoin, the largest block chain currency, saw their market cap rise to $9 billion but it is on a bearish trend still. It failed to break the strong resistance at $3.90 level.
Ethereum gave back February gains as it dropped around a percent for the day to the vicinity of $127. Ethereum is mimicking the losses of bitcoin as both currencies weaken. Ripple also dropped but nit at the same magnitude as the 2 main coins.
Litecoin Settling Around Familiar $45
Litecoin rose intraday to $48.00 But fell back to familiar levels at the $45 mark as it ended trading day at $45.64 mark. Momentarily, it fell down to a low of $44.40 during the day before rebounding back to the $45.00 level.
If the Litecoin moves up to the upper levels of $46 region could signal a recovery from the reversals experienced during Monday’s trading. It will encounter a strong resistance level at $47.63 and expectations are that there is not enough momentum to push above the resistance.
On the other end, should Litecoin fall, we can possibly see a fall through below the $44.03 support and even test out the stronger level at the $43 level if a broad sell off comes from investors.
Ripple Continue to Drop but Keep Above $0.30 level
Ripple continues to drop with a fall of 2.66% following yesterday’s 1.16% losses. Ripple settled with a loss as it ended the day at $0.3091, reversing from a high of $0.31914. The highs did not threaten the next resistance level at $0.3224 mark. With the drop, it pierced through the resistance levels at $0.3134.
If the Ripple does not move towards $0.3110, it could see more losses. However, it is not expected to go below the 0.30 level without a mass sell off from the market.