Cryptocurrency market update: IOTA and Ethereum Classic fly the bullish flag high

  • IOTA and Ethereum are breaking the glass ceiling to record considerable gains.
  • The crypto market retreated this week but ETC broke several barriers including $7.00.

The cryptocurrency market has a blend of both red and green signals. The largest cryptocurrency Bitcoin is back above $10,100 after recovering from Saturday’s dip below $10,000. While trading at $10,160, the bulls have eyes on $10,200 in the short-term.

The other top three cryptocurrencies, Ripple and Ethereum are fighting hard to shake off the bear pressure. However, existing selling activity is making it difficult for the cryptoassets to sustains the minor gains. This is leading to a situation where cryptocurrencies are making a step forward and two steps back.

Contrary to the general trend in the market dominated by low buying activity, IOTA and Ethereum are breaking the glass ceiling to record considerable gains. IOTA (MIOTA) is trading 6.83% higher on the day. After opening the session today at $0.25989, the price soared to $0.2848 before correcting to the current market value $0.2762. Meanwhile, with a relative change of 0.017280, the prevailing trend is the favor of the bulls.

Read also: Top 3 price prediction Bitcoin, Ethereum and Ripple: One step forward two steps back-Confluence Detector

On the other hand, Ethereum Classic is extending the winning streak with impressive gains on Sunday. While the crypto market retreated this week, ETC broke several barriers including $7.00. Following the remarkable 6% upward correction, ETC/USD is trading at $7.26. Unlike, IOTA, Ethereum Classic bulls are currently losing ground especially with the prevailing trend being bearish.

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin: Is this just a small blip?

Bitcoin is moving lower on Friday but it has found some short term support. The BTC/USD found support at the 2.00 Fib extension level close to 8,500. On the topside, the area to watch for resistance is marked in red. This red zone has been used as support and resistance in the past and if broken could indicate the move lower was just a blip.

More Bitcoin News

ETH/USD deadly weekly evening star followed up with another bearish candle

Ethereum price is trading in the red by 3.30% in the session on Friday. ETH/USD is running towards a complete reversal of 2020 gains. 

More Ethereum News

XRP/USD is stuck in the middle of a very congested area

Ripple trades 2% lower in another down day for cryptos. The price is now between 3 key support and resistance zones.

More Ripple News

TRX/USD looks to base out on the hourly chart

TRON bounced back on Friday despite weakness in the major coins. The price now seems to be trying to find a base.

More Tron News


Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast