A weekend of crypto consolidation but where will prices go next?

Financial watchdog recommends ban on stablecoins

Crypto asset markets spent the weekend consolidating with very little activity on them. Analysts are eying the next moves for Bitcoin and its brethren, can the bullish momentum continue?

Total market capitalization has hovered around the $190 billion level over the weekend as Bitcoin held on to the $6,800 price zone.

Since this time last week over $20 billion has re-entered the space and prices of most of the major digital assets have slowly crept back up.

There has been another small bounce during the morning’s Asian trading session as BTC touched $6,900 but it really needs to clear $7k and hold above it for bullish momentum to grow.

Analysts are predicting more range bound activity this week as the 0.768 Fibonacci retracement level becomes the new resistance for BTC.

There has been very little movement for the majority of digital assets over the past 24 hours, Ethereum is holding above $140 while XRP sits at $0.18 and BCH at $235.

Today’s top two movers at the moment are Stellar adding 5% on the day and Tron notching up a 7.5% gain.

Image used courtesy of David Mcbee/Pexels

Micky is a news site and does not provide trading, investing, or other financial advice. By using this website, you affirm that you have read and agree to abide by our Terms and Conditions.
Micky readers - you can get a 10% discount on trading fees on FTX and Binance when you sign up using the links above.