The cryptocurrency market appeared to be trading in a tight range-bound as it registered a market cap of $349 billion. However, Bitcoin’s latest upward breach caused several altcoins to push closer to their respective overhead resistances.
Bitcoin has been consolidating within a tight range. Upon restoring a bullish momentum the coin broke its immediate resistance of $10,620 and was up by 3.67% over the last 24-hours. The latest surge drove its price to $10,733 at the time of writing as its market capitalization stood at $198 billion and a 24-hour trading volume was registered at $47.1 billion.
The green closing bars of Awesome Oscillator a shift towards a bullish momentum. Chaikin Money Flow also aligned with the bulls as it climbed over the zero-line depicting inflow of money to the coin market. If bulls can sustain the price, a quick move to $11,071-level is likely as it found crucial support at $10,121.
Ethereum rebounded off a key support point of $334. As traders bought this dip, the price was pushed closer to the recently breached $400-level. Over the last 24-hours, ETH rose by 2.72% which catapulted its value to $373.90. At the time of writing, ETH registered a market cap of a $42.10 billion 24-hour trading volume of $19 billion.
Klinger Oscillator resumed an uptrend after undergoing a bullish crossover. MACD was however in the bearish territory depicting the bears have an upper hand in the ETH’s price movement. If the downside pressure decreases, the largest altcoin could target an overhead resistance of $392.
Bitcoin Cash [BCH]:
BCH surged by 7.45% over the past day. At the time of writing, the fork coin was priced at $238.98 as it held a market cap of $4.425 billion and a 24-hour trading volume of $3,16 billion.
The dotted markers of Parabolic SAR continued to resist an upward price breakout near the $293 resistance level. The minor spike in RSI indicated a sentiment of decreasing selling pressure among the traders in the coin market. This could further push the coin near its aforementioned point of resistance while the bulls continued to defend the support level of $215.