Cryptocurrency Market Update: Bitcoin and its peers storming ahead
|- Bitcoin holding decent gains of some 7% in the session, as the bulls regain strong momentum.
- Ethereum up over 8% with XRP running in the green by 6.5%.
The Bitcoin price is now holding chunky gains of some 7% on the day. Momentum really picked up pace following the brief consolidation at the $8000 price mark. Bulls managed to use this territory as a launchpad for further moves to the north.
A significant daily resistance barrier was noted at $8500, which so far at the time of writing is subject to a daily closure above. Ethereum is holding on to decent gains of some 9%, as the price springs off the $150 mark, which was prior acting resistance, the bulls must now firmly break down $155.
Elsewhere, XRP/USD is trading up some 6.5%, following a brief retest of the $0.2000 late last week. A decent barrier was noted at $0.2180-0.2200, which the bulls are on course for closing above via the daily view.
BTC/USD 60-minute chart
ETH/USD 60-minute chart
XRP/USD 60-minute chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.