Bitcoin, Ethereum, Ripple overview: ready to enter a consolidation phase
|- Major cryptocurrencies stay in green amid slowing momentum
- BNB is the best-performing cryptocurrency of the day.
Cryptocurrency market recovery is gaining traction as Bitcoin, and all major altcoins are flashing green this morning, though the momentum seems to be fading away. The total capitalization of digital assets in circulation hit $133.6B which is the best level since February 24. The coins out of top-20 have gained from 1% to 12% with the only exception of Maker and Tether which are marginally down.
Bitcoin (BTC) is changing hands at $3,861 handle with under 1% gains in recent 24 hours. The first digital coin retraced from the intraday high of $3,888; however, the short-term trend remains bullish so far. A sustainable move above $3,800 mitigated an immediate bearish pressure and improved the technical picture. Though we still have a strong technical hurdle on approach to $3,900.
Ethereum, the second largest coin by market value, is changing hands at $139.33, off the intraday high of $140.21. The coin made another failed attempt to clear the critical resistance level, but it proved to be a hard nut to crack. Ethereum has gained nearly 2% higher since this time on Tuesday, moving in sync with the market. The upside momentum might gain traction later during the day.
Ripple’s XRP, the third largest coin, sits in a tight range under $0.3200, with 1.5% gains day-on-day. The coin recovered weekly losses to trade marginally higher of w/w basis.
Binance is the best-performing coin out of top-20. BNB moved to 7th place in cryptocurrencies hit-parade, having gained nearly 50% in recent seven days. The coin is trading at $14.84, which is 12% higher from this time on Wednesday.
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