March 3 - overview of the cryptocurrency market
BTC. After a repeated unsuccessful attempt to gain a foothold over the resistance block at $ 49,400, the asset price fell to the level of the correction of 0.382 on the Fibo ($47,413), touching the average moving average of 20 MA 4 H, over which the instrument is currently trading. From the point of view of the indicator, "Bollinger Bands" is a signal for further upward movement, for the development of which it is necessary to consolidate above the named resistance level. Bitcoin has overcome the "middle" of the trading channel indicated on the chart, the first target of the long movement will be the correction level of 0.236 on the Fibo ($51,532). If the price closes below the average exponential moving average of 50 EMA 4 H, the instrument will move to the correction level of 0.382 on the Fibo
ETH. The asset is trading above the support block at $1,510. In a pair with BTC, ether shows an increase of 2.8 % over the past day, leading altcoins. If the price is fixed on the daily timeframe above $ 1590, the road to the next significant resistance level – $ 1745 will open.
The largest debit electronic payment system PayPal is going to acquire the infrastructure provider for storing cryptocurrencies Curv. According to various estimates, the transaction amount is from $ 200 million to $ 500 million. At the end of 2020, PayPal implemented support for cryptocurrencies, but customers of the service are still unable to perform operations with digital assets. Judging by the preparation of the infrastructure, the company's representatives made a strategic decision to fix this. Direct transactions with cryptocurrencies based on the payment system itself will add another major player to the industry, expanding the choice of platforms for trading crypto assets.
U.S. stock indexes ended lower on Tuesday after a sharp rise a day earlier. In particular, the shares of large technology companies fell significantly. Support for the market earlier this week was provided by a decline in the yield of US Treasuries, as well as optimism about the approved coronavirus vaccine manufactured by Johnson & Johnson. The Dow Jones was down 0.46% by the close, the S&P 500 was down 0.81 %, and the Nasdaq Composite was down 1.69 %.
The total capitalization of the cryptocurrency market has increased by 4 % over the past 24 hours, while the dominance of the main cryptocurrency has slightly decreased – by 0.5 %. This means that the capital is directed to altcoins, and while the "digital gold" is consolidating, the holiday continues.
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