Investors look for new consolidation levels as crypto ‘Fear and Greed’ index hovers in Neutral
The contraction of positive sentiment in crypto markets continues.
Bitcoin (-0.89%) is trading below $28k while the price of Ethereum (ETH) (-1.31%) sits just above $1.8k.
Yesterday’s BTC highs and lows, along with the opening and closing prices, were all dotted close together, with the Fear & Greed Index hovering in Neutral after a few weeks in Greed.
Other crypto markets are in varying shades of red this morning. Analysts say investors are looking for new consolidation levels following the rally that still sees BTC up 68% year-to-date.
Friday’s Crypto AM Daily
In the markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market this morning was $1.157 billion.
What Bitcoin did yesterday
We closed yesterday, April 23, at a price of $27,591. The daily high yesterday was $27,820, and the daily low was $27,400.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $530.817 billion. To put it into context, the market cap of gold is $13.125 trillion and Tesla is $523.18 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $14.150 billion.
Fear and Greed Index
Market sentiment today is 53, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 47.34. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 43.06. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price – an RSI reading of 30 or below indicates an oversold or undervalued condition.
Soundbite of the day
The price of bitcoin is facing dynamic resistance, the main support is in the area of $26570 – $26370.
Technical Crypto Analyst
What they said yesterday
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Cautionary Notes
It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. City PM, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.