- Cryptocurrency Market Spent the Weekend Trading in Green as the Price of Bitcoin and Other Top Tokens Surged
- Will the Bulls Maintain the Momentum for the Rest of the Week?
Cryptocurrency News Today – After trading below the $200 billion levels for weeks, the cryptocurrencies were able to move above this level over the weekend thanks to the bull run. Between Friday and Sunday, about $6 billion was added to the cryptocurrency market capitalization. The rise against the USD was led by the first cryptocurrency, Bitcoin BTC. The price of Bitcoin BTC moved above the $7,300 level but the resistance at this level was extremely strong and the token fell to the $7,180.
Cryptocurrency Price Prediction 2020 – The Cryptocurrencies Are Still Green But How Long Will This Last?
The Bitcoin BTC token has formed strong resistance at the $7,400 level. If the token can move above this resistance, it would pave the way for a surge to the $8,000. Despite the retraction of the cryptocurrency, there is a cup and handle pattern that signifies a bullish continuation. At the time of writing, the price of the token was $7,036.08. This means that it is down by 2.65% against the USD. The trading volume over a 24 hour period is $33,201,056,099 and the market capitalization is $129,011,490,036.
As the price of Bitcoin was rising over the weekend, the price of Ethereum ETH followed suit. It gained significantly during the weekend and has been able to maintain most of these gains. At the time of writing, the price of the token was retracting from above the $187 level which it reached in the morning. It is trading at $177.89. It is up by 3.34% against the USD and down by 0.73% against the price of Bitcoin. The trading volume over a 24 hour period is $19,997,290,481 and the market capitalization is $19,673,512,203.
Just like Bitcoin BTC and Ethereum ETH, other altcoins in the market are losing their gains gradually. Ripple XRP, the price of the third largest cryptocurrency per market capitalization is at $0.189650. It is up by 2.00% against the USD and up by 0.43% against the price of BTC. The trading volume over a 24 hour period is $2,185,325,314 and the market capitalization is $8,361,614,895. Just like the other top tokens, there is evidence of an upcoming bull run. However, XRP must break the resistance at $0.2200 if it is to move higher near-term. The next few days of trading will determine if the cryptocurrency market is going to maintain the bull pressure. For now, the bears seem to be getting exhausted.