RATE Group | Major cryptos post modest losses in quiet day
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Major cryptos post modest losses in quiet day

22 Feb Major cryptos post modest losses in quiet day

Posted at 22:55h in Cryptocurrency News by

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  • Cryptocurrencies continue to look for direction on Saturday.
  • Bitcoin trades near key Fibonacci level below $10,000.
  • Erhereum erases nearly 2%, stays near lower limit of consolidation channel.

After showing relatively high volatility during the first half of the week, major cryptocurrencies have gone into a consolidation phase and seem to be struggling to make a decisive move on Saturday. The total market capitalization of all cryptocurrencies stays near $280 billion, the latest available data on CoinMarketCap shows.

Top-three coins price overview

Bitcoin (BTC/USD) trades in a tight range below the critical $10,000 for the third straight day on Saturday. As of writing, Bitcoin was don 0.65% on the day at $9,635. The Relative Strength Index (RSI) indicator on the daily chart continues to move sideways near the 50 mark to confirm the near-term neutral outlook.

$9,600 (Fibonacci 23.6% retracement of January-mid-February rally) aligns as the initial support…

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