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.
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.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
