Cryptocurrency Market Update: Ethereum outperforms amid broad-based buying spree
|- Buying-wave sweeps across the crypto board on Saturday.
- Ethereum leads the advance among top 3 favorite crypto coins.
- Will the bulls extend control into Sunday after Friday’s decline?
Top 3 coins’ price overview
- Bitcoin (BTC/USD) resumes its upbeat momentum following Friday’s brief reversal on Friday, as the bulls look to test the $12,000 level. The most dominant digital coin benefits from a fresh buying-wave seen across the crypto space, backed by a technical breakout on the hourly chart. The No. 1 coin was last seen trading near $11,800, enjoying a market capitalization of $217.21 billion. Bitcoin is set to book about a 1.50% weekly rise.
- Ethereum (ETH/USD), the No. 2 most traded crypto coin, with a current market capitalization of $43.74 billion, has almost recovered 75% of Friday’s slide. Buyers return with pomp and show, as the price attempts another run towards the $400 mark. Ethereum outperforms its peers, Bitcoin and Ripple while gaining over 3.50% on a daily basis to trade around $393, at the time of writing.
- Ripple (XRP/USD) has jumped back on the bids this Saturday, looking to test the $0.30 barrier. The XRP bulls have staged a solid comeback from Friday’s steep drop to the 0.2790 region. The No. 3 coin extends its upside consolidation mode into the seventh day today, carving out a potential bull pennant on the daily chart. Therefore, the path of least resistance remains to the upside in the coming days. The coin is set to end the week with a whopping 12% gains.
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