The cryptocurrency market starts the week with strong growth across the board
- Bitcoin (BTC) has settled above $9,600, still below SMA100 daily.
- Altcoins are gaining ground with NEO and TRON leading the pack.
Green shoots are everywhere in the market. Bitcoin and all major altcoins are demonstrating strong gains from 2% to 26%. Notably, NEO and TRON are the best-performing assets out of top-20 as both coins have gained over 26% on a day-to-day basis. At the time of writing, the total cryptocurrency market capitalization is registered at $253 billion from $242 billion the day before; an average daily trading volume increased to $116 billion from $99 this time on Sunday; Bitcoin's market share decreased to 68.2%.
Top-3 coins price overview
BTC/USD topped at $9,938 during early Asian hours before retreating to $9,600 by the time of writing. Despite the retreat, the first digital coin is still 5% high from this time on Sunday, moving within a short-term bullish trend. Notably, BTC cannot sustainably break above SMA100 (Simple Moving Average) on a daily chart (currently at $9,650). Once it happens, $10,000 will come into focus. This resistance is strengthened by the recent high and the middle line of a weekly Bollinger Band on approach.
Ethereum, the second-largest digital asset with the current market capitalization of $20 billion, has gained nearly 4% in recent 24 hours. At the time of writing, ETH/USD is changing hands at $185.00, off the intraday high of $190.19. Looking technically, ETH/USD a sustainable recovery above $180.00 improves the short-term picture and signals the price may continue moving upwards with the next bullish aim at $190.00.
Ripple’s XRP has made its way above $0.3000 during early Asian hours on Monday. At the time of writing, XRP/USD is changing hands at $0.3010. The third digital coin with the current market value of $12.9 has gained $1.75 on a day-to-day basis, though the bullish breakthrough above $0.3000 still needs to be confirmed.
Author
Tanya Abrosimova
Independent Analyst
