Home Daily Analysis Crypto Market sentiment Daily Crypto Brief, Sept. 10 – Bitcoin lags Altcoins

Daily Crypto Brief, Sept. 10 – Bitcoin lags Altcoins

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Bitcoin’s 24H performance lags the rest of the coins. The best performer in the last 24 hours was Eos ( 4.5%) followed by Litecoin (+4.07%), Ethereum(2.23%) and Bitcoin Cash(1.65%).
Market Capitalisation is $265.1 billion and Bitcoin dominance descended to 69.7%.

Below, the Heatmap of the crypto sector showing gains from their 24H price. on most of the assets.

What is happening?

SEC Commissioner Jay Clayton says it still work needed before a Bitcoin ETF could be approved.

 

IBM has doubled the number of persons on the Technical Steering Committee of Hyperledger. Now six out of 11 members are IBM employees. This new committee will be the governance of TSC after they elect a new TSC chairperson. More information on this article by coindesk.com.

Tether Limited announces that it is adding yuan-backed digital currency to its stablecoin list. The Hong-Kong-based company said in a blog post that the new stablecoin, CNHT, will be backed one-to-one to the offshore Chinese yuan and issued as an ERC20 token. Source:bitcoinist.com.

Harold J. Ford, a former US representative, said US Congress should create a clear regulatory framework for crypto assets.

“The U.S. should not be losing the competitive edge on attracting this innovation’s best and brightest. The SEC now has the opportunity to take the lead on regulation that works with industry, not against it.”

Source: usethebitcoin.com

Technical Analysis

 

Bitcoin



Bitcoin is still dominated by the sellers who profit from selling the rally. The price moves below the mid-Bollinger line and close to the -1-BB line, while the MACD confirms that the current state is still corrective mode. The upward trendline was respected yesterday, so this can qualify as correction of the last bullish impulse.


Ethereum


 Ethereum is fighting the resistance level of $183. Stochastics points to the corrective nature of the current price movements. MACD, still bullish, may lead to a break of the resistances. The price moves close to the +1 Bollinger line, which is a confirmation of the MACD.


Litecoin


 Litecoin has overcome the $71 resistance level and now headed up toward $75. MACD and price action near the +1 Bollinger Band confirms that. Currently is fighting to overcome the $72-73 zone.


Cardano


Cardano is also bullish, although at this time is touching resistance levels at 0.0485. MACD is bullish, but with the price near the overbought zone. We should keep an eye on this one.

 

Also, keep an eye on EOS.


 Eos is currently overbought, but the recent price action is very positive.

 

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