Bitcoin and other leading cryptocurrencies’ efforts to rally from last week continues, with Bitcoin Cash, Ethereum, and Litecoin making the most inroads. Meanwhile, Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple remain the top five most traded coins this week.
Bitcoin Cash (BCH/USD) appears to be the big winner this week as it had a better run compared to the other cryptocurrencies. The coin extended its early recovery after lows that ran for eleven days. However, it still can’t go upside past the 200-HMA at 289.
The fourth most traded coin is still doing nicely at over the 280 handle, especially after it cut out the 21-hour Simple Moving Average (HMA). BCH price remains at 1.30% since yesterday, while the market holds at $5.10 billion.
One of the largest gainers in terms of market value this week is Litecoin (LTC/USD). The bulls were able to maintain its recovery mode and kept it higher than the 61.8% Fib level it saw after the previous week’s downslide. Litecoin is presently trying to push past the 61.50 barrier. Its market capitalization stands at $3.91 billion, and it has risen by one percent since yesterday.
Bitcoin’s (BTC/USD) momentum started to slow down as the week closes. The coin has been recovering from a two-week low but is now near to 8,880 after it was rejected at the 38.2% Fib sell-off. While it remains the top traded crypto, it has slid down 3% in the last 24 hours. It’s market capitalization currently stands at $159.51 billion.
The coin’s price is still inside the upper range limits. It has strong support at $9,000, while sellers remain happy at $9,600. BTC’s upside gains is being capped at 50 SMA.
Another currency that’s struggling to hold on to its recovery is the Ethereum (ETH/USD). The second-biggest digital asset is having problems as the bears keep the 186 handle in sight. The down bias is expected to continue if the price breaks past 184.45, where the 50% Fib of its last decline and the rising trend line collide.
Exchanges handling ETC/USD are handing around 185 as of press time. There have been minimal changes from yesterday, but it’s up by about 0.65% on Saturday.
Meanwhile, Ripple (XRP/USD) is following its recent bout of trade back under the 280 handle as its momentum sputtered during a relaxed trading day. The top three coins can potentially recover if it can latch on to the downward slipping 50-hourly Simple Moving Average (HMA) as it stands at 282.91.
Ripple rose by 1.5% today as it basks in a market capitalization of $12.10 billion.