Bitcoin is riding high as it recently breached a level not seen in nearly three years. This has triggered an increase in its dominance over the crypto market which currently stood at 62.7%. The latest price action of Bitcoin has also prompted a surge in terms of the global cryptocurrency market which rose to a whopping $401 billion, at press time.
Over the past 24-hours, Bitcoin [BTC] was up by 3.26% and was priced at $13,558. It held a market cap of $251 billion and a 24-hour trading volume of $37.96 billion. The green closing bars depicted a strong bullish momentum in the coin’s price movement. Additionally, the Chaikin Money Flow was well above the zero-line depicting a massive inflow of capital into the BTC market.
Bitcoin was now nearing $14,000 which happens to be an important resistance level. If a breach above this level materializes, it could target yet its ATH level close to $20,000. Its price was supported at $10,211.
Ethereum [ETH] has been hovering below its resistance level of $400 after sustaining a pullback of 0.28% over the last 24-hours. It was priced at $392 as it registered a market cap of $44.4 billion and 24-hours of trading volume of $15.94 billion.
The Klinger Oscillator appeared to be heading for s bearish crossover. In addition, the MACD appeared to be generating a strong sell signal as it formed a bearish crossover above zero. A move by the MACD into the bearish region can confirm that ETH was heading to an extended pullback.
If the bears gain hold of the coin’s price, ETH could take a plunge near its immediate support level of $316.
XRP also registered a minor decline of 0.33% over the past day and was priced at $0.248 while recording a market cap of $11.2 billion and a 24-hour trading volume of $2.44 billion.
The dotted markers of Parabolic SAR continued to support XRP price candles from a market downturn. The RSI, on the other hand, dropped below the 50-median line depicting a decreasing sentiment of buying pressure among the market participants.
A crucial level of resistance for the coin stood at $0.257, if breached could potentially boost the coin to target its local top of $0.294. XRP’s support level was found to be at $0.221