Last week’s price slump led to a fall in market capital to below 400 billion euros, but was again able to rise to almost 500 billion euros. No single currency can show a positive balance for the week, only EOS is clearly bullish and was able to displace IOTA from the top 10 crypto currencies.
The price development of the ten crypto currencies with the highest market capital, which is stated in billions of euros, is shown. For crypto currencies that are currently not directly exchangeable into euros, the respective trading pair was taken with Bitcoin as the basis and converted into euros.
Even though Bitcoin’s price estimate at the beginning of last week was negative, it was surprising that it would hit all crypto currencies so hard. For those who had been following Bitcoin’s price for some time, the fall was more of a profitable buying opportunity than a disaster. Nevertheless, it should be noted that all of the top 10 crypto currencies had to give up their feathers. For IOTA, in addition to the general price loss in the last few days, the scandal about the stolen seeds was added. However, it should be emphasized that the influence on the price was rather marginal; the reason for leaving the top 10 was rather the rise of EOS. Since 17 January, this token has recorded a 45 % gain. Although it was not possible to re-test the all-time high reached just under a week ago, the token is well on its way to new highs.
Market capital fell to EUR 340 billion this week, but has now risen again to EUR 474 billion. Accordingly, it looks as if the big price drop is over for the time being.
Best Bitcoin news price performance
Since 6 January, Bitcoin news have been looking up for EOS above all. Like other Bitcoin news tokens and crypto currencies, EOS fell sharply last week after reaching a new all-time high shortly before, but recovered and is about to test its old all-time high. The current rally is certainly related to the expectation of the forthcoming announcement of a new VC back behind EOS; as one could learn regularly from tokens like TRON, announcements of announcements seem to have a positive impact on the price.
A positive and rising MACD and a RSI of 67 lead to an overall bullish impression. Support will be described by the 23.6% fib retracement level. If the price falls below this retracement level, the uptrend that began in the middle of last week would also have come to an end. A real resistance is hard to detect; at the moment the all-time high is being tested.
Worst price development: Bitcoin Cash
Bitcoin Cash also dropped sharply in the course of the latest dip, breaking through the support of a previously pursued triangle pattern. Bitcoin’s little brother has not recovered as much as other currencies since then. The exponential moving average over a week and the 50% fib retracement level were briefly tested, but this resistance was not breached.
The negative MACD and the RSI at 44 lead to an overall bearish impression. Possible support is tested by the 23.6% fib retracement level at 1,400 Euros. The most important resistance is at the level of the 50% fib retracement level.
Stability of the Top 10
A price gain of 14% for IOTA or a price loss of 12% for NEO could lead to IOTA again rising to the top 10 of the assets listed on the coin market cap.