|Day's Range||269.86 - 275.23|
|52 Week Range||19.30 - 473.21|
|Volume (24hr) All Currencies||92.88M|
Bitcoin in the red at the start of the day, reversing the minor gains from Saturday, whilst holding on to gains from the week. The day ahead will be a telling one, a weekend rally likely to see the talk of $10,000 gather momentum.
With Ethereum and Bitcoin showing signs of life again, it looks as if the alt coins are trying to follow suit. In fact, that’s where the money was to be made over the last week.
With both Ethereum and Bitcoin rallying over the last several sessions, we are seeing the alt coins do very much the same. I believe that this market is starting to attract more “hot money”, as traders start to look for higher returns.
Alt coins rallied a bit during the trading session on Wednesday, as Bitcoin and Ethereum both picked up a bit of momentum later in the trading session. Because of this, we are starting to see a bit of a change in the attitude.
With both Ethereum and Bitcoin doing very little during the trading session on Tuesday, it’s not much of a surprise that the alt coins that we follow here at FX Empire were also a bit stagnant. That being said, there are plenty of areas to pay attention to.
Monero slid 3.44% on Monday, partially reversing Sunday’s 5.57% rise, to end the day at $194.03. A start of the day move to an early intraday high saw Monero hit a day hi $203.4 before the morning pullback kicked in.
With both Bitcoin and Ethereum pulling back at the open of the week, it makes sense that the alt coins did the same. However, the weekend was good for the alt coins, so perhaps we are finally starting to see some momentum build up.
The alt coins that we follow here at FX Empire all gained during the week, as both Bitcoin and Ethereum rallied. That tends to have a bit of a “knock on effect” in these markets, so it makes sense.
The alt coins rally during trading on Friday, as Ethereum and Bitcoin also rallied, causing a bit of bullish pressure in the crypto currency markets. Because of this, it looks as if we are starting to try to form some type of longer-term base, and these markets could be very interesting in the near term.
Now that Bitcoin and Ethereum have finally shown some strength during the trading session on Thursday, the alt coins have done the same. However, that’s not to say that things are turning around for the longer-term, we still have some work to do.
The alt coins rallied a bit during the Wednesday session, as both Bitcoin and Ethereum found a bit of a reprieve. Because of this, it looks as if we are trying to at least show the signs of a potential bottoming pattern. However, it still early in the game.
Monero pulled back from early highs this morning, following the rest of the cryptos into the red, with the bearish sentiment from the 1st quarter continuing to plague the markets. Any upside later today will face plenty of resistance as investors continue to hit the sell button at key resistance levels.
Alt coins struggled a bit during the trading session on Thursday, as we continue to drift sideways in general. Ultimately, this is a market that could find plenty of support underneath, but also bearish pressure above, meaning that this is a market that is going to continue to be very noisy. As usual, pay attention to Bitcoin and Ethereum, as they tend to lead the way for these currencies.
Alt coins continue to roll over, as crypto currencies took another bashing during the day on Wednesday. At this point, it should be obvious that if the market rallies, it’s time to start looking for short positions. Ultimately, this is a market that will continue to follow Ethereum and Bitcoin, both of which are struggling.
The “alt coins” all had negative leaks overall, although we are starting to see a bit of bullish pressure on Friday and the Monero market, in the end it looks as if the weekly charts are telling us a negative story.
The so-called “alt coins” had positive sessions during the trading session on Tuesday, showing signs of life yet again. It looks as if crypto currencies around the world are trying to form a base, and then break out to the upside. That will of course have an effect in this market as well.
Alt coins has had a tough week as crypto currencies continue to deal with the aftermath of the massive selloff. Because of this, the market looks likely to be difficult to hang onto for a significant amount of time.
The so-called “alt coins” were a bit soft during the trading session on Wednesday, as the major digital currencies also rolled over at the first signs of resistance. At this point, I think the market is trying to catch its breath before we make the next significant move.
The alt coins were relatively quiet during trading on Tuesday, just as a theory was. This was in sharp contrast to the Bitcoin markets, which was a bit odd. I believe that we may have some catching up to do in these markets though, so opportunity could present itself.
The alt coins had positive weeks, as the crypto currency markets have recovered a bit after the massive selling that we had seen previously. This is a good sign, but the question now is “is this a dead cat bounce?”
Alt coins had a slightly positive session during the day on Friday, while the larger crypto currencies sat still. Most of the crypto currency markets have significant resistance just above, so the next several sessions could be interesting to say the least.
The “alt coins” did rally a bit during the trading session on Monday but are suffering at the hands of low-volume. I think that the market is still reeling from the recent bloodbath that we have seen in the crypto currency markets. At this point, I think that the market has a lot of work to do to attract the overall public again.
The alt coins all did the same thing during the previous week as Bitcoin and Ethereum did, fell rapidly. However, they have also rallied a bit as well, forming some very interesting candles on the weekly chart.
Yahoo Finance's Jared Blikre joins Seana Smith from the New York Stock Exchange to discuss the latest moves in the cryptocurrency markets.