Monthly Crypto Technical Price Analysis- Bitcoin, Ethereum, Bitcoin Cash
By — Nirmal Ranga
The cryptocurrency market by capitalization has gone through a loss of about 22% in the last month. Market capital decreased from $423 billion to the low of $331 billion approximately in the month of May.
Bitcoin being the market leader fell around 18.5% devaluating from the cap of 157.4 billion to 128 billion and was the 2nd among the strongest in terms of least devaluation of market cap, keeping itself behind Ethereum.
Overall, Bitcoin market dominance increased by 1.4% from 37.2% to 38.6% over the month of May and was also the major driving force behind the crypto-volatility trend as there was high correlation in alternative coin prices with the price fluctuation in Bitcoin.
Bitcoin is representing a gain of about 1.2% in last 24-hours trading close to around $7,615. Bitcoin seen in the weekly chart above has formed a symmetrical triangle to which a breakout or break-down on either side is nearly expected. Let’s look into the daily chart.
You can read the complete monthly report here.
About Author — Technical/Derivatives Analyst & Crypto-Currency Expert with a decade of Professional Experience having expertise in Equities, Commodities, FOREX & Crypto-Currency Markets. Connect with him on LinkedIn and follow him on Twitter.
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