The global crypto market cap rose to $364.68 billion after an appreciation of 1.57%. The recent developments of mainstream central bank digital currencies [CBDCs] have so far failed to sway the price of Bitcoin and the rest of the crypto market as the overall sentiment appeared to be fairly optimistic.
Bitcoin [BTC] has managed to recapture the dominance in the crypto market. It climbed to $11,755 after a rise of 2.63% over that last 24-hours. This level was last seen in the last week of August. Additionally, BTC held a market cap of $217 billion and a 24-hour trading volume of $27.1 billion.
The dotted markers of Parabolic SAR aligned below the BTC price candles depicted a bullish phase for the coin. RSI was well above the 50-median neutral line depicting a high buying pressure among the investors of the coin market.
If the bullish pressure gains traction, BTC could climb to its nearest resistance of $11,956 as it found crucial support for the coin $10,265.
Attempts to break its resistance level of $0.257 have not yet come to fruition as the XRP suffered yet another mild pullback. However, the coin continued to head upwards and note a minor uptick which drove its price to $0.249. At the time of writing, XRP registered a market cap of $11.12 billion and a 24-hour trading volume of $1.509 billion.
The red closing bars of Awesome Oscillator depicted a bullish momentum in the coin’s price. Chaikin Money Flow also sank below the zero-line and was currently hovering in the bearish region. This was indicative of a decline in the inflow of capital in the coin market.
If the bearish pressure weighs in, XRP could retrace to $0.222 in the coming days.
Monero [XMR] rose by 0.74% over the last 24-hours which drove the coin’s price to $123.9. The privacy-focused coin recorded a market cap of $2.19 billion and a 24-hour trading volume of $1.23 billion.
The MACD generated a strong sell signal as it formed a bearish crossover above zero. A move by the MACD into bearish territory can confirm that XMR could witness a sell-off in the coming days ahead. Klinger Oscillator also underwent a bearish crossover. This evidenced that the coin could have topped out.
Resistance level for XMR stood at the recently breached $130-level, while its immediate support stood at $87.408