Top 10 Cryptocurrencies Price Analysis : BTC, ADA Market Research

BTC-USD Price Analysis - 15 October 2018

The total market capitalization has fallen to 211 billion US dollars. With the exception of Bitcoin, all cryptocurrencies, even tether, suffered significant losses. Bitcoin itself also rose by just under one percent.

The price development of the ten cryptocurrencies with the highest market capitalization, which is stated in billions of US dollars, is shown.

Like autumn leaves, cryptocurrencies are currently falling. So soft that the term “price fall” seems somewhat incorrect. However, the bottom that many had hoped for is not yet visible. After the total market capitalization at the beginning of last week was still just under 220 billion US dollars, it fell back to 200 billion US dollars on 11 October. It was not until the morning of 15 October that market capitalization was able to return to the level of the beginning of the week in the short term, thanks to the current situation around Tether. In the meantime, the market capitalization stands at 211 billion US dollars. For all cryptocurrencies except Bitcoin, the price losses are at least five percent. Three percent price loss must currently Tether overwear.

The today is coined by a momentary price rally, how lastingly this is, however, must show up. Regardless of the performance within the last week, the impression with almost all cryptocurrencies within the top 10 is rather bearish, so that one should currently be cautious with long positions. Instead, you should observe the behavior at the indicated supports and resistances before opening a short position or a long position.

Best price performance: Bitcoin (BTC)

Roughly speaking, the Bitcoin price was as stable as one would wish a tether to be. But small cattle also make a mess and so the price drop was almost undone a few days ago. Altogether the Bitcoin course continues its sideways migration. The resistance of the Triangle Pattern, which has been pursued since February, has been tested but has not yet been broken. With a MACD slipped into the negative and an RSI at 45, an overall bearish impression is created.

BTC-USD Price Analysis - 15 October 2018

However, before plunging into a short position, one should wait for the price to fall below the support at 6,014 US dollars. A short position with a target of 5,646.60 US dollars and a stop loss at 6,188 US dollars would then be appropriate. Should the price rise above the resistance at 6,749.45 US dollars, one can open a long position with a target at 7,195.41 US dollars and a stop loss at 6,600 US dollars.

Worst price performance: Cardano (ADA)

Although the Bitcoin Cash price also had to cope with a price loss of almost eleven percent, Cardano has to bear the inglorious title of “Loser of the Week” with a price loss of over eleven percent. The plateau, which the price passed through between mid-September and early October, could not be maintained after a final test of the resistance described by the exponential moving average EMA50.

ADA-USD Price Analysis - 15 October 2018

The negative, falling MACD and the RSI at 47 lead to a bearish impression. Similar to the case of Bitcoin, one should wait for the behavior at the first support at 0.07 US dollar and at the first resistance at 0.08 US dollar. If the price falls below the mentioned support, a short position with a target at 0.06 US dollar and a narrowly chosen stop loss is the best choice. If the price rises above 0.08 US dollars, you can also open a long position with a target of 0.10 US dollars with a tight stop loss.

Stability of the Top 10

With the media hype that Justin Sun creates about Tron, one wonders: Do we see Tron in the top 10 again? In any case, the Tron course would only have to rise by seven percent to push Monero from tenth place. But even between Monero and Cardano, there is only eleven percent. After all, the gap between EOS and Stellar has dropped to 16 percent. The occupation carousel of the top 10 can, therefore, turn at various points.

Winners and losers in the price slump

On average, all cryptocurrencies fell by almost one percent. Thus, on average, all cryptocurrencies performed worse than Bitcoin. For the Top 100, the result is even clearer. Here, prices have fallen by an average of five percent. In addition to Digitex futures, which can show a price gain of 81 percent, the prices of GXChain, Eternal Token, Eternity and Loom Network rose by more than ten percent.

Digitex futures have recently attracted increased attention with the prospect of commission-free futures. The same can be said about the current Airdrop. The loser of the week is Bytecoin, who had to cope with a price drop of 34 percent thanks to various delistings. 82 out of 100 cryptocurrencies performed worse than Bitcoin. Bitcoin’s market share has risen accordingly and currently stands at 54 percent.

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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