After a few days of decline, some coins from the top 10 list have started to slowly rise. Tezos (XTZ) is the only coin from the list that has gone up by more than 1%.
Analyzing the overall market capitalization, its index has dropped by $30 Bln over the past week. It currently amounts to $220 Bln.
Relevant data for Ethereum is below.
Market Cap: $21 817 219 418
Volume (24h): $17 016 409 203
Change (24h): -0.70%
The data is relevant at press time.
ETH/USD: Testing $200 before a more profound drop?
Ethereum (ETH) still has not recovered from the recent sharp decline. The rate of the second most popular crypto has dropped by 0.39% over the last day.
On the hourly chart, Ethereum (ETH) is trading sideways in the range between $195-$205. The situation is still bearish, however, the coin is unlikely to drop from its current levels.
In this case, Ethereum (ETH) might re-test the support at $205 shortly. The altcoin is already oversold on the small time frames.
On the biggest time frame, the situation is pessimistic. Ethereum (ETH) is located within the falling Wedge pattern, which means that, after a correction from the recent dump, the coin might test the lower levels. In this case, the first crucial support is located in the $180 area.
Ethereum is trading at $197.22 at press time.