Bitcoin Jumps Back on Top among Major Altcoins

Saint Kitts and Nevis – On Saturday, the recovery momentum extends through the cryptocurrency market. Bitcoin leads as the top placer, and it’s dominating the rest of the cryptocurrencies. Some of these altcoins are Ethereum, Ripple, Bitcoin Cash, and Litecoin.

The recovery of Bitcoin (BTC/USD) from its two-week low spot changed. The top placer faced rebuff at the 38.2% Fib or Fibonacci Retracement of the previous sell-off. Over the last hours, it moved nearer to 8,880. Now, it’s moving back to the afterward support, and it’s aligning at a Fib level of 23.6% or 8,800. Moreover, the bears are 3% down in the past 24 hours, having a $159.51-billion market capitalization. It’s making it the most commonly traded cryptocurrency in today’s market.

Following Bitcoin is Ethereum (ETH/USD), which as a $20.09-billion market capitalization. This second-biggest digital asset struggled in recovering overnight when Bitcoin continued to secure the 186 handle. During the press time, ETC/USD alters hands about 185. This exchange changed minimally in the previous 24 hours, yet it increased to 0.65% this Saturday. The bias will recommence if the price breaks 184.45, wherein the 50% Fib level of the recent decline and growing trendline support agree.

The Ripple (XRP/USD) ended as the third placer. This cryptocurrency retraces the current leg up and trades below the 280 handle. This regaining momentum appears to have a follow-through shortage during the Saturday trading. However, it could recover if it retrieves the leaning 50-hourly HMA or Simple Moving Average at 282.91. Furthermore, the third placer was 1.5% higher, with a $12.10-billion market capitalization.

The Bitcoin Cash (BCH/USD) spreads the timely bounce from its low place for 11 days. However, the 200-HMA, which is at 289, still stays subtle despite its upside. The fourth placer in the cryptocurrency market trades well beyond the 280 handle. It took out the 21-hourly HMA. Also, the price went 1.30% down in the recent 24 hours, leaving it standing at $5.10 billion in the market capitalization.

Litecoin (LTC/USD) is one of the top gainers among the most traded coins. The bulls stand in fifth place among the significant altcoins on Saturday. Despite landing in fifth place, this cryptocurrency accomplished to withstand the recovery mode, having above 61.8-percent Fib level. It was able to sustain its way despite the decline from last week. Now, it faces 61.50-barrier while going north. Moreover, this fifth placer has a $3.91-billion market capitalization, and it’s going up beyond 1% in the previous 24 hours.