The cryptocurrency market  retains positive bias as the upside momentum slows down


  • Bitcoin makes attempts to settle above $8,600.
  • Altcoins are still mostly bullish, though the growth momentum has been slowing down recently. 

The cryptocurrency market has recovered strongly following Bitcoin’s growth above critical resistance. While the strong upside momentum of the previous session slowed down, the market retains positive bias as Bitcoin and major altcoins stay in green territory.

The market capitalization of all digital assets in circulation increased to $231 billion from $221 billion on Wednesday, while an average daily trading volume grew to $69 billion from $53 billion the day before. Bitcoin’s market edged up to 66.9% 

Top-3 coins price overview 

BTC/USD is hovering around $8,600 with over 4% of gains on a day-on-day basis . A sustainable move above barriers at $8,300 and $8,500 has improved the technical picture and opened out the way to the next bull’s target at $9,000. 
 
Ethereum, the second-largest digital asset with the current market capitalization of $20.7 billion, is among the biggest winners of the day. The coin gained 5% on a day-on-day basis and settled above $190.00. Now a move towards $200.00 it is a matter of time. SMA50 (Simple Moving Average) daily at $184.00 has turned from a strong resistance into a hard support. 
  
Ripple’s XRP stopped short of the critical resistance created by a long-term tend line at $0.2810. We will need to see a sustainable move above this handle for the upside to gain traction. Unable to push through this barrier, XRO/USD retreated below $0.2800. The coin has lost nearly 2% since the beginning go the day.

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

BTC/USD gearing up for another attempt to crack $10,000 as active addresses keep growing

Bitcoin is holding surprisingly well after the flash crash on June 2. Bulls keep defending the daily 12-EMA while Bitcoin slowly climbs higher. BTC/USD is trading at $9,660 at the time of writing, looking at the $9,887 resistance level.

More Bitcoin News

XRP/USD clutches above $0.20, is holdling an effective XRP strategy?

Ripple is currently in consolidation above $0.20. Therefore, there is not much that can be said in regard to this week’s price performance, except for the move that tested $0.2150 on Monday.

More Ripple News

ETH/USD may return to $220.00 before another strong rally

Ethereum tested $247.93 during early Asian hours and retreated to $247.70 by the time of writing.  The second-largest digital asset has gained about 1% of its value since the start of the day and stayed unchanged since the beginning of the day.

More Ethereum News

IOTA upgrades Hornet node software

IOTA has announced a major upgrade to its Hornet node software, which is the first performance upgrade in IOTA 1.5. the first in a series of planned protocol upgrades.

More IOTA News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD needs to go down again before it goes up

After a head-spinning volatility at the beginning of the week, BTC/USD settled above $9,600 with minor gains on a week-on-week basis. A shall Doji candle on a weekly chart is an alarming signal that the bulls are exhausted by uncertainty and large price swings. 

Read the weekly forecast

BTC

ETH

XRP