Tanya Abrosimova
Independent Analyst
- 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.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
MANTA suffers 4% pullback after unlocking tokens worth $40 million
Manta Network (MANTA) unlocked over 8% of its circulating supply on Thursday. The unlocked tokens were airdropped and distributed in public sale, according to data from Tokenunlocks.
XRP struggles to recover as lingering Ripple lawsuit could reach Supreme Court, former SEC litigator says
The SEC vs. Ripple potential showdown at the Supreme Court is likely, says former SEC litigator Ladan Stewart. XRP Ledger calls developers, businesses and investors to build on the blockchain, extending Apex 2024 registration until April 30.
Bitcoin Layer 2 Merlin chain TVL climbs 20%, defying broad market correction
Merlin chain’s TVL added 20% this week, and crossed $800 million on Thursday. Bitcoin Layer 2 assets noted double-digit losses in the past week. Stacks, Elastos, SatoshiVM, BVM are hit by a correction as Bitcoin hovers around $61,000.
If Bitcoin restarts bull run, these altcoins are likely to explode Premium
If Bitcoin’s consolidation ends and the bull run resumes, altcoins are likely going to trigger a massive rally. Last cycle’s hot tokens like SOL, AVAX, WIF, ONDO, etc., could see renewed enthusiasm.
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.