Bitcoin, Bitcoin Cash, Ethereum, Ripple: Prices, Charts and Analysis
- Cryptocurrencies turn higher from multi-month lows.
- Oversold conditions may push some coins higher.
Cryptocurrency Market Picks-Up in The Short-Term
After registering heavy double-digit losses at the weekend and the start of the week, the cryptocurrency market has regained some poise but is still left near multi-month lows. Some coins remain in oversold territory which may help them move higher but heavy selling in other coins is a cause for concern, especially as they are trading below levels that they originally opened up at in 2017.
An arguement can be made that the markets may have just made their low prints for 2018 but caution is still warranted especially over weekend trading hours when volume usually drops and prices can move sharply.
Bitcoin Daily Price Chart (May – November 28, 2018)
Investors remain net-long cryptocurrencies but recent changes give us a mixed trading bias – for example the number of traders net-short Bitcoin is up from last week. You can sign up to the IG Client Sentiment Indicator for free to get updated positioning data.
Cryptocurrency Trader Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars
If you are interested in trading Bitcoin, Bitcoin Cash, Ethereum, Litecoin or Ripple we can help you begin your journey. We have an Introduction to Bitcoin Trading Guide along with a Free Demo Account so you can practice trading this volatile asset class.
What’s your opinion on the latest cryptocurrency sell-off? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at firstname.lastname@example.org.
--- Written by Nick Cawley, Analyst.