Cryptocurrency market update: Altcoins flex muscles – Litecoin, Ripple and Ethereum lead the way


  • The intraday charts show cryptocurrencies with gains between 1% - 10%.
  • Bitcoin surged to highs of $8,088 before sliding to find balance under $8,000.

The market is back in the green again following a few days of consolidation. The bulls return confirms to investors that we are still in a bullish phase, especially for Bitcoin. The intraday charts show cryptocurrencies with gains between 1% - 10%.

Litecoin is at the forefront of the recovery having corrected up 10.38% on the day. LTC/USD opened the trading on Monday at $114.82 before correcting lows of $112.68. The recovery has taken it to highs around $128.20. Besides, the prevailing trend in is strongly bullish. The volatility of Litecoin on the lower side which means that we can expect minor deeps in the event $130 is not assaulted.

The ‘father’ of the cryptos, Bitcoin surged to highs of $8,088 before sliding to find balance under $8,000. BTC/USD is trading at $7,970 at press time amid a building bearish trend. This means that BTC may fail to settle above $8,000 in the coming sessions today but the target for the week is at $9,000.

Ripple and Ethereum have not been left behind. They have shown the ability to recovery by conquering key resistance levels at $240 for ETH and at $0.40 for XRP. Ethereum is up 5.33% while Ripple has added 3.28% to its value on the day.

 

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