- The bullish rally in the overall market is still prevailing on Tuesday’s trading session with the majority of the cryptoasset performing positive
- The overall market capitalization stands at $364,759,253,324 and the 24-hour volume traded of $93,566,324,719
- The dominance of crypto king in the market remains at 58.40%
Will the Market Continue its Bullish Rally?
Both BTC/USD and ETH/USD were successful in closing above the price level of $11500.00 and $380.00 respectively. However, the pivot points show that BTC will face its first resistance point at $11562.39 which tends to provide negative reversals, as well as Ether, which is also very close to it’s the all-time major resistance level of $390.00. With both the major coins reaching to their resistance area, we might expect a minor price correction activity for the day. On the downside, the world’s largest crypto asset has got a support level of $11200 on PVT and ether got the major support of $370.00 on PVT as well.
Binance Coin (BNB)
Binance coin has finally broken above the major resistance level of $30.00 and is currently targeting to break above another resistance placed at the price level of $32.00. The cryptoasset is currently having an overall gain of 5.91% bringing the CMP to $31.10. The market capitalization is at $4,490,370,135 with the 24-hour volume traded of $811,773,428. The coin is currently moving between an unstable price range and investors need to look out for any volatile movement.
Chainlink has also broken past its major resistance level of $11.00 and now must be targeting for the bullish level of $13.00. The CMP is at $11.30 with an overall gain of 3.54%. The LINK/BTC and LINK/ETH pairs are also performing positive with the gain of 2.95% and 1.42% respectively. The market capitalization is at $3,952,382,515 with the 24-hour volume traded at $1,930,368,201. The cryptoasset must sustain above the price level of $11.00 for capitalizing on this bullish move otherwise a negative trend from here will make the post resistance level of $11.00 much harder to break.
Icon was successful in reclaiming the crucial price level of 0.40 and climbed up to $0.412 further ahead in the market. The CMP is at $0.412435 with a significant gain of 3.36% bringing the market capitalization to $234,831,569 with the 24-hour volume traded of $14,149,348. The ICX/BTC pair also performed positive with the gain of 2.57% bringing the current level to 0.00003600 BTC. The price levels will now be facing and targeting to break above the minor resistance level of $0.450.
Tron is now looking very promising to break its consolidation phase which was ranging between the price level of $0.024 to $0.029. The cryptoasset has built gradual positive momentum with the help of overall bullish sentiment in the market and has CMP placed at $0.0270 with an overall gain of 3.09%. The TRX/BTC pair is also performing positive with a profit of 2.27% bringing the current level to 0.00000236 BTC. The digital asset needs to hold up current levels and should break the major resistance level of $0.290 for building significant price recovery action further ahead in the market.
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