- Major cryptocurrencies are on recovery mode.
- Stellar is the growth leader of the day.
Cryptocurrency market is flashing green. The recovery has been gaining traction since the weekend; however we still have a number of essential barriers ahead. The total capitalization of all digital assets in circulation reached $135.2B, which is the highest level since February 24.
What’s going on on
Stellar is an apparent leader of the day. The coin has gained over 10% since this time on Sunday and touched $0.1040 during early Asian hours on Monday. The coin is changing hands at $0.1027 amid strong bullish momentum. Stellar has closed a bearish gap created on January 25, which means that the prices might proceed higher with the next focus on $0.1090-$0.11.
Binance Coin is another star of the previous week. BNB managed to gain nearly 30% in recent seven days; however, the upside momentum is losing traction. The coin takes the seventh place in the cryptocurrency rating with a market capitalization of $2B. It is trading at $14.75 at the time o writing, off the early Asian high $14.94.
Bitcoin (BTC) jumped to $3,947 on Saturday, but failed to hold the ground and retraced to $3,900 handle. At the time of writing the first digital coin is trying to push above this resistance area with no success so far. BTC is mostly unchanged on a day-on-day basis and 3.6% higher on a weekly basis.
Ethereum (ETH), the second largest coin by market value, is changing hands at $136.8, unchanged on a day-on-day basis. ETH/USD is moving within a short-term bearish trend with the critical support noted at $135.00.
Ripple’s XRP, the third largest coin, is paralyzed at $0.3144. The coin has been rangebound after a failed attempt to move above $0.3200, which means more consolidation with bearish bias may be in store.
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