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24h Market Cap Change $0.12

Bitcoin, Monero dip slightly as DASH gains a bit of momentum

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After a surge in its price post-halving, Bitcoin’s valuation slowed down over the course of the past 24-hours. This bullish momentum was still evident in the market, at press time, but the king coin’s resistance at $10,000 continued to hold firm. Other crypto-assets, namely Monero and Dash, maintained sideways movement on the charts, with both noting a minor slump and hike over the day.

Bitcoin [BTC]

Source: BTC/USD on TradingView

Over the last 24-hours, Bitcoin registered a downtrend from $9,946 to $9,560 on the charts and at press time, was valued at $9424. The world’s largest crypto-asset had a market cap of $172 billion, with the same accompanied by a 24-hour trading volume of $42 billion.

Market indicators remained bullish in the short-term as the Parabolic SAR continued to hover under the price candles. Further, the MACD also maintained its position above the signal line, exhibiting a bullish nature in the charts. However, the Bollinger Bands suggested a period of reduced volatility as the bands of the indicator were converging on the charts.

The growing significance of Bitcoin, the world’s largest cryptocurrency, was highlighted recently after the world-renowned author of the Harry Potter series, JK Rowling, expressed an interest in the functionality of Bitcoin.

Monero [XMR]

Source: XMR/USD on TradingView

With a market cap of $1.3 billion, Monero maintained its position at 14th on CoinMarketCap. However, the token’s trading volume was extremely poor, with only $84 million traded over the past 24-hours. Monero was priced at $63.81, with strong resistance at $65, at the time of writing.

The Chaikin Money Flow or CMF suggested that capital was flowing out of the market, rather than coming in, with the Bollinger Bands pointing to a reduced period of volatility, similar to Bitcoin.

XMR was in the news after a recent announcement stated that Monero would be delisted from Bithumb in June. Bithumb’s delisting auditory board decided to permanently remove the coin after it was provisionally delisted in April.


Source: DASH/USD on TradingView

Finally, Dash continued its sideways movement on the charts, with a minor uptick of 0.80 percent over the past 24-hours. A market cap of $698 million kept it at 22nd in the rankings, but the asset registered a high trading volume of $572 million.

The Chaikin Money Flow of CMF indicated a bullish trend as capital inflows were higher than capital outflows, whereas the Relative Strength Index or RSI exhibited a neutral trend between the buying and selling pressure.


Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.
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