Crypto Market Rallies Over Weekend: BTC, ETH, LTC, XRP and USDT Heading Towards Bullish Surge
Major cryptocurrencies this weekend have experienced a bullish trend with their prices rising high. Especially, the topmost cryptocurrency, Bitcoin was already surging high during the past week with its price trading over 8100 USD. Over the last weekend, BTC has touched its 13 month’s high price.
The overall crypto market has been on upward price shift breaking critical resistance levels. Apart from many other factors, one of them is estimated to be nearing launch of Facebook’s cryptocurrency project titled ‘Libra’ this week. Crypto analysts also anticipate that the recent bull-run can propel Bitcoin price to cross 10,000 USD price mark soon, though further price momentum largely depends upon market fluctuations. Talk of the crypto market, it is to be noted that the total market capitalization of cryptocurrencies has seen a steady surge on 16th June, Sunday.
Bitcoin, being the most influential crypto asset, is expected to put a notable impact on other crypto’s price trends. So let’s have a look at how the recent bull-run of Bitcoin has affected the crypto market.
BTC/USD 1 Day Price Chart:
The chart shows how Bitcoin surged gradually from its price level at 8861.23 USD and crossed a major resistance level at 9000 USD. In 4 hour and 18 minutes, BTC reached as high as 9381.52 USD from 9000 USD showing a price hike of 4.23%. Since then, BTC price did not drop below 9000 USD except for one sharp price fall. Further, the price path of BTC traced a noticeable Inverse Head and Shoulder pattern as low as 8900 USD, indicating an upcoming price rise in Bitcoin. At 05:38:53 UTC, Bitcoin was trading at 9217 USD. In the last 24 hours, the BTC price has increased to 4.01%. The top cryptocurrency amongst all, Bitcoin holds Market Capitalization of 164,778,789,951 USD.
BTC/USD 4-Hour Price Chart:
The highlighted part in the 4-hourly chart of BTC shows how Bitcoin price has surged higher following every price plunge. The MACD chart for BTC shows enough volatility in its price trend with a bullish impact.
If Bitcoin continues its bull run, it may cross its initial resistance level at 9,516 USD. the next Bitcoin price point to watch for can be 10,000 USD. BTC may see further support levels at 8347.80 USD and 8005.85 USD.
ETH/USD 1 Day Price Chart:
With an increase from 268.81 USD, Ethereum had hit its 7-day high price point of 278.74 USD. It saw a sharp pullback where it dropped to 268.91 USD. It traded below 271 USD before taking another price surge. Then it reached its 24-hour low price of 263.21 USD with a gradual price fall, breaking its support level at 269 USD. At 06:39:12 UTC, Ethereum was trading at 269.24 USD. In the last 24 hours, ETH has increased to 0.15%. ETH, at present, holds 29,059,480,595 USD as its Market Capitalization.
The MACD chart for ETH over a time span of 24 hours, appears quite volatile, however, in the last couple of hours, it seems a bit bearish. If ETH takes an upward price shift it will face resistance at 271.95 USD and 278.75 USD. But a price drop in ETH may usher it to support levels of 257.13 USD and 250.33 USD.
LTC/USD 1 Day Price Chart:
In the time span of 24 hours, Litecoin price has initially shown notable price surges, followed by price plunges. The crypto coin had surged to its 24-hour high price point at 138.96 USD, however, it saw a gradual price drop from there and it bottomed to 133.81 USD. Later, the LTC price recovered to 137 USD clearing its resistance level of 135 USD. After a few price-drops, Litecoin again rebounded to 137 USD, though at 08:26:00 UTC, LTC was trading at 135.18 USD. Litecoin currently has a Market Capitalization of 8,480,771,988 USD.
The MACD chart for LTC/USD shows that the LTC price trend has been volatile over a day. In the last 24 hours, Litecoin has decreased to 1.98%. If the Litecoin price starts to move upwards, it may resistance at 137.35 USD and 141.52 USD. If LTC goes bearish, it will see support levels at 129.00 USD and 124.83 USD.
XRP/USD 1 Day Price Chart:
Ripple seems to have benefited from the recent uptrend in the price of BTC. XRP price was struggling to have a steady price recovery for more than a week as it was failing to cross its major resistance level at 0.40 USD. Ripple holds a Market capitalization of 18,412,783,117 USD.
XRP gradually soared to 0.42 USD from 0.41 USD and then it took a steady price surge to 0.44 USD, clearing resistance at 0.42 USD. After a gradual pullback, XRP price has been ranging between 0.42 USD to 0.43 USD. At 09:28:24 UTC, Ripple was trading at 0.43 USD. In the last 24 hours, XRP has increased to 5.80%.
The MACD chart of XRP/USD shows a bit of volatility with a bullish impact in its price trend. If Ripple price continues to rise, it may face resistance at 0.44 USD. Though, if XRP again taps over a bearish trend it will see support levels at 0.398 USD and 0.385 USD.
USDT/USD 1 Day Price Chart:
Tether, the digital currency categorized as a stablecoin is said to have pegged with the fiat currencies. The crypto coin holds 3,491,340,787 USD as its Market capitalization. Tether price path has traced its high price point at 1.0080 USD and then gradually tumbled to 1.00 USD with a decrease of 0.79%. After a few price spikes, USDT again dropped to 1.00 USD. At 11:08:52 UTC, USDT is trading at 1.0046 USD, after a gradual price recovery.
The MACD chart seems volatile, and the price path of USDT shows turbulence. If USDT traces an uptrend in the short term, it will see resistance at 1.009 USD, 1.012 USD and 1.016 USD. However, if the price takes a downward move, it may see support levels at 1.002 USD, 0.997 USD and 0.994 USD. In the last 24 hours, USDT has decreased to 0.10%.
