Major Coins Trading Sideways, Bitcoin Deepens Under $10,000

Published at: Sept. 23, 2019

Monday, Sept. 23 — Major cryptocurrency markets are reporting mixed signals, with Bitcoin (BTC) being slightly bearish following the launch of Bakkt’s physically delivered Bitcoin futures.

Market visualization. Source: Coin360

The leading digital currency Bitcoin is down 1.55% on the day to trade at about $9,813 at publishing time. During the day, BTC has been trading in a narrow corridor between $9,788 and $10,097 — the lowest and highest price points of the coin over the day.

As Cointelegraph reported in a dedicated analysis earlier on Monday, if Bakkt momentum picks up, Bitcoin prices could see resistance about $10,630 on the day. On the other hand, support on the weekly Bollinger Bands sits about $7,700. If this level is broken, the price needs to hold $7,150 before the monthly moving average is breached.

Bitcoin 24-hour price chart. Source: Coin360

Ether (ETH), the second-biggest cryptocurrency by market capitalization, is slightly down by 0.2% over the day, trading at $207.07 at publishing time. The major altcoin saw its highest price point over the week on Sept. 19, reaching $223.70, with a weekly low of $191 on Sept. 16.

Ether seven-day price chart. Source: Coin360

Conversely, XRP is in the green today, having gained 2.68% to trade at around $0.280 at publishing time. The third-largest coin traded at about $0.258 on Sept. 16, which was XRP’s lowest price point on its weekly chart, while the high was $0.323 on Sept. 18.

XRP seven-day price chart. Source: Coin360

On the top 20 cryptocurrencies list, Chainlink (LINK), Tezos (XTZ) and IOTA (MIOTA) are major gainers, up 3%, 4.22% and 4% respectively. Major losers are Stellar (XLM) and Monero (XMR), which are down by more than 3%, while Algorand (ALGO) has lost 5.93% on the day.

Also on Monday, Binance officially announced the listing of XTZ, launching three new trading pairs featuring BTC, top stablecoin Tether (USDT) and Binance’s native token Binance Coin (BNB).

The total market capitalization of all cryptocurrencies is at $265 billion at publishing time, up from a weekly low of $259 billion earlier on Monday.

Total market capitalization of all cryptocurrencies: Seven-day chart. Source: Coin360

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