The global crypto market cap rose to $352 billion after surging by 2.61% over the last day. Despite daily price fluctuations, Bitcoin and the rest of the cryptocurrency market continued to push towards crucial resistance levels and appeared to be heading for a bullish revival.
Ethereum [ETH] saw an increase of 3.59% over the last 24-hours pushing its price to $367.9 as it held a market cap of $41.5 billion and a 24-hour trading volume of $12.37 billion. It broke a crucial level of resistance at $356 hinting that a potential uptrend may resume soon.
The green closing bars of Awesome Oscillator validated the presence of bullish momentum. Chaikin Money Flow was also above the 50-median line depicting an inflow of capital into the coin market. If this trend gains traction, ETH could push the coin towards another immediate resistance of $390. However, if the bears take over, the altcoin could sink to the support level of $323.
Despite the bears attempting to stall its price action, Litecoin [LTC] broke the $47.72 level of resistance after it jumped by 3.95% over the past day. At the time of writing, the coin was still hovering close to it and stood at a value of $47.90 as it registered a market cap of $3.14 billion and a 24-hour trading volume of $2.15 billion.
Bulls were gained significant traction over the past week. This was evidenced by the latest bullish crossover underwent by both Klinger Oscillator as well as MACD. If the trend persists, LTC could target its overhead resistance of $50.53 as it found firm support at $40.12-level.
Monero [XMR] has managed to improve its standing on the cryptocurrency market. The privacy-focused coin was up by 9.84% over the last 24-hours driving its price to $108.62 breaking significant resistance along the way and rising to a 2-year high. At the time of writing, XMR registered a market cap of $1.924 billion and a 24-hour trading volume of $1.24 billion.
The dotted markers of Parabolic SAR aligned below the candlestick arrangement supported the coin from a retracement. In addition to the RSI, closely mimicking the price movement, headed towards the overbought zone depicting a sentiment of high buying pressure in the coin market.
A possibility of an extended bullish rally seemed likely which could drive the coin’s price to target $117-level while it was supported at $87.