After spending a week in the dumps, the Bitcoin price is finally seeing an upward trend as the market is trying to bounce back and cross the $10,500 resistance levels.
Bitcoin price has been trading below $10,000 from the past few days but yesterday the trend changed. After trading close to $9,700 for most of the day, Bitcoin saw a correction in its price as the currency broke the $10,200 resistance and moved towards the major resistance of $10,500.
Bitcoin showed an impressive correction in the price as it moved upwards and traded at $10,416.18 by the end of the day. Today the trading started at $10,403.78 and an upward trend can be seen in the charts. If this trend continues, we can expect the BTC/USD pair to break the resistances present at major levels and trade at the yearly highs of $14,000.
The popular altcoin Ether(ETH) also showed an upward trend as the price reached $178.58 from yesterday’s $171.49. On the other hand, Ripple’s XRP token has been trading at a steady rate throughout the week, is currently trading at $0.2618, which marks a slight improvement from yesterday’s prices.
XRP has been performing poorly among all the other currencies this year, and most likely the reason behind this poor performance can be the continuous selling of XRP tokens.
Major player among the top-20 altcoins
In the list of top-20 altcoins by market capitalization, Ethereum Classic has seen an increase of 7.19% over time with the market cap of $761,723,682. Binance Coin is right after it with the market gain of 4.93% with its market cap at $3,517,208,447.
Bitcoin Cash and Bitcoin SV have shown gains of over 4% and the trade has reached $295 and $135 respectively. Litecoin has shown the small gains of about 1.84%. Bitcoin still dominates the market with a 70.1% share in the market, as the market capitalization is back over $265 billion.
