Close crypto market span as a compressed spring

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The crypto market remains in the floating and at the same time resembles a compressed spring. Is traded just under $ 46,000 on Tuesday morning and ends the sluggish decline of the last six days.

Strictly speaking, the cryptocurrency market does not look oversized in order to be clearly attractive for short and medium-term purchases, but shows signs of buyer interest.

greed and anxiety index of the cryptomarktes: low but not oversized

greed and anxiety index of the cryptomarkt: low, but not oversized

The cryptocurrency-greed and Fear index fell on the 30, ie "Fear". From these levels, the index started the most active sales phase of the cryptom market in May. Historically, the purchase of cryptocurrencies was most attractive when the index of about 10 was reversed to an increase (with extreme fear).

However, caution is not yet a decisive quality for crypto investors. This month, Bitcoin has methodically gained support on the underside of a simple sliding 200-day average, which is now close to $ 4,4300. At the beginning of August, the increase in this curve triggered an increase of 40% in the next five weeks.

Btcusd also finds support in the fall of the 200-tage-ma

BTCUSD continues to find support in the decline towards the 200-day-ma

The dynamics of yesterday's day shows how fast and strong the movement can be with great news.

Yesterday Litecoin experienced a moment of euphoria, the quotes of which rose by a third to $ 235 when the news became known that Walmart (NYSE :) would accept that would accept coin as a payment. The news was fake and the coin quickly returned to the previous level close to $ 173. The positive dynamic in the coin is worth mentioning that in the past week buying support for burglaries below 170 $ 170, which got stuck between the sliding 50 and 200-day average.

LTC was fixed between the sliding 50- and 200-day cuts

LTC was fixed between the sliding 50 and 200-day average
In the past few days, old coins generally looked weaker than Bitcoin, the latter could regain part of their lost soil in the entire crypto market capitalization. And that's not a bad sign, because Bitcoin is often the first to see a trend reversal. The existence of constant purchases in the coming days will enable the markets to shake off the pessimistic expectations of the cryptoma market and to revive the positive price dynamics in the middle of a continued doldrum after the downturn.

The FXPro analyst team