Cryptocurrency Price Technical Analysis: Bitcoin, Ripple, Bitcoin Cash, EOS, Ethereum, Litecoin all go lower

If you look at the past 24 hours in the cryptocurrency market, most of the cryptocurrencies have been moving lower consistently. Whether you look at Bitcoin or Bitcoin Cash or Ethereum or any other cryptocurrency, you will realize that it is trading lower. On the other hand, the total market cap of the cryptocurrency market stands at $ 365 billion. It is down by 0.5% in the last 24 hours.

Bitcoin:

Bitcoin has moved down approximately 3% in the last 24 hours. The market capitalization of Bitcoin is around $ 140 billion. There is quite a bit of pressure on Bitcoin due to the technical indicators.

READ ALSO:  Bitcoin Price In 2020, 2025, 2030: 'Bitcoin will soar to $100,000 by 2030'

Ethereum:

Similarly, Ethereum is falling consistently as well. It is currently trading around $ 660. It is fallen by 5.4%. The market cap of Ethereum is around $ 65 billion. The trading sentiment is consistently weak.

Ripple:

Ripple is trading around $ .61. The market cap of Ripple is around $ 25 billion. It has consistently fallen in the last 30 days as well.

Bitcoin Cash:

Bitcoin Cash has increased smartly from $ 700 all the way up to $ 1400. However, in the last 24 hours, it has fallen by approximately 7%. As a result, it is not trading around $ 100. The market cap of Bitcoin Cash is around $ 19 billion. However, analysts are actually positive about Bitcoin Cash. They are still a suggesting a buy on Bitcoin Cash.

READ ALSO:  Decline in Mastercard Money Transfers Ratio: The Cause is Prohibition of Cryptocurrency Purchase with Credit Cards-Sat May 05

EOS:

EOS has again fallen by 5.5% in the last 24 hours. It is trading between $ 12 and $ 13. The market cap of the US is around $ 11 billion. As a result, it is a cryptocurrency which is consistently falling as well.

Similarly, when you look at the other Altcoins as well, you will realize that those Altcoins are also falling consistently. This clearly indicates that most of the cryptocurrencies are falling on a consistent basis. Owing to this very reason, many experts also believe it will be a good idea to avoid cryptocurrencies for now. Only when you understand the price movement of cryptocurrency, it might be a good idea to think about investing in them. Currently, however, it is a better idea to stay away from cryptocurrencies. You have to keep these few factors in mind and after that only; you will be able to make a decision about investing in cryptocurrencies currently.

READ ALSO:  When will the TPS race end? Which blockchain platform will be the first to reach 1 Million TPS? Ethereum? EOS? Or could it be a new challenger, Penta?
loading...
Have Your Own Idea? Become A Financial Analyst at TheOofy.com:  >Do you have an idea to share with the millions of people interested in the markets? >Here is a chance for you to become a financial analyst and get up to $999 for an article based on traffic and content quality. Signup now to start sharing your experience.
mm
Aamir Kapoor is a fintech writer specializing in cryptocurrency and blockchain. He has a background in finance and banking and was a researcher.