RATE Group | Major cryptos remain stuck in tight ranges
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Major cryptos remain stuck in tight ranges

07 Dec Major cryptos remain stuck in tight ranges

Posted at 16:20h in Cryptocurrency News by

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  • Bitcoin continues to move sideways near $7,500 on Saturday.
  • Ethereum waits for Istanbul hard fork to take place later today.
  • Ripple struggles to move beyond its 20-day moving average. 

Major cryptocurrencies struggle to find direction on Saturday with the top three coins with regards to market capitalization registering small daily changes.

Top-three coins price overview

After gaining a total of nearly 5% in the last two days, Bitcoin (BTC/USD) failed to extend its rebound and spends the day fluctuating near $7,500 on Saturday. Technical indicators don’t seem to be providing any directional signals either with the Relative Strength Index (RSI) on the daily chart staying flat near the 50 mark. Supports for the pair could be seen at $7,450 (20-day MA),$7,080 (December low) and $6,500 (Nov. 25 low). On the flip side, $8,000 (Fibonacci 38.2% retracement of October 25- November 25 drop) seems to have formed a stiff resistance level ahead of $8,500…

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