More and more Bitcoin appeared to be getting out of exchanges marked a bullish sign for the coin. Following its trail was the rest of the cryptocurrencies which were attempting to recapture bullish momentum. The global crypto market stood at $358.7 billion and noted a 0.88% increase over the last day.
Bitcoin [BTC]:
Over the last 24-hours, Bitcoin [BTC] was up by 0.57% and was priced at $11,411 as it held a market cap of $211 billion and a 24-hour trading volume of $19.7 billion.
Undeterred by news such as the Kucoin hack, the Bitfinex fiasco, or the latest OKEx drama, Bitcoin has maintained a steady consolidation over the past several months. This was also depicted by Klinger Oscillator which recently underwent a bullish crossover. RSI was well-above the 50-median line depicting a sentiment of increasing buying pressure in the coin market. Bitcoin’s target currently stood at the recently breached level of $11,554 as it found firm support at $10,574.
Polkadot [DOT]:
Polkadot [DOT] was also up by 3.66% over the past 24-hours which drove its price to $4.09. At the time of writing, the token registered a market cap of $3.48 billion and a 24-hour trading volume of $201 million.
In a very short span of time, DOT has become one of the topmost coins on the cryptocurrency ladder. However, since peaking, the coin has formed three descending cup patterns before exhibiting signs of a much-needed upward breakout.
Despite losing a significant portion of its value, the green candles of Awesome Oscillator depicted a bullish phase for the coin. Chaikin Money Flow’s latest spike above the bullish territory also projected a rising inflow of capital into the coin market. If this persists, the coin can move to its nearest resistance of $4.58 as it support stood at $3.69.
Tron [TRX]:
Tron [TRX] recorded a minor dip of 0.16% over the past day. The coin was being traded at $0.025 while a market cap of $1.85 billion and a 24-hour trading volume of $784 million.
The dotted markers of Parabolic SAR above the TRX price candles appeared to be resisting an upward trend on the short-term TRX chart. However, MACD underwent a much-awaited bullish crossover as the signal line slid below.
If the bulls happen to gain an upper hand at the coin’s price, it could climb all the way to a crucial resistance level of $0.029, a level last seen in the second week of October. However, if the bearish pressure overpowers, TRX could take a plunge to its support level of $0.0244.