Has cryptocurrency market accumulated enough strength for mid-term rise?
Bulls keeps dominating over bears as most of the coins remain trading in the green zone.
The rate of Bitcoin (BTC) has risen by 6.29% over the last 24 hours.
Bitcoin (BTC) has continued the rise after yesterday’s bullish candle against the relatively medium volume. At the moment, the price is approaching the $21,000 mark.
If the main crypto can do that, there is a chance to see the test of the local resistance level at $22,400 by the end of the month.
Bitcoin is trading at $20,859 at press time.
Ethereum (ETH) is the biggest gainer today, rocketing by 13%.
On the daily time frame, Ethereum (ETH) is again above the $1,200 mark, which is locally a bullish scenario. If buyers can hold the initiative until the end of the day, traders can expect the test of the $1,281 mark within the next few days.
Ethereum is trading at $1,230 at press time.
XRP has followed the rise of other coins, going up by 7% since yesterday.
Despite the rise, XRP has made a false breakout of the $0.3434 level, having confirmed bulls’ weakness. In this case, the more likely scenario is sideways trading in the range of $0.33-$0.34 so that buyers can accumulate more energy for a further upward move.
XRP is trading at $0.3339 at press time.
Solana (SOL) is not an exception to the rule, rising by 12.45%.
Solana (SOL) is trading similar to Ethereum (ETH) as it is also on the way to its local resistance level at $39.72. If the daily closes near the $38 mark, bulls might keep their rise going for the next week.
SOL is trading at $38.09 at press time.