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- The bulls are now creating a major positive impact on the overall market conditions after a positive consolidation from the past two days
- The overall market capitalization stands at $366,474,721,846 with the 24-hour volume traded of $72,666,716,446
- The dominance of the crypto king is increasing significantly day by day and currently stands at 59.6%
The Much-Awaited Bullish Move Finally Arrived
The overall market conditions have finally turned extreme bullish for the majority of the coins on Tuesday’s market session. BTC has broken the major resistance level of $11600 and even reclaimed the crucial mark of $11700. However, Ether is still struggling with the minor resistance level of $380.00. Bitcoin has soared higher over the past few days. After bottoming at $11,200 late last week after the OKEx news, the cryptocurrency has mounted a comeback. Other altcoins are also having significant price recovery action in the market.
Bitcoin (BTC)
Source: Coinmarketcap
After testing the major support level of $11200 in the past week, BTC has gained significant positive momentum thereafter broke the minor resistance level of $11600, and reclaimed the crucial mark of $11800 on Monday’s market session. The world’s largest cryptoasset should now be looking over the sustainability above the price level of $11800 for targeting $12k in the near term. The CMP is placed at $118020 at the time of writing with a significant overall gain of 2.78%. The dominance of BTC has seen an increase of 0.57% over the day. The market capitalization and volume traded stands at $217,714,753,508 and $26,290,685,822 respectively.
Dash (DASH)
As DASH takes access to the DeFi services by collaboration with StakeHound, the price levels also received bullish sentiment for the day. It also helped the price levels to break above the major resistance level of $73.00. The CMP is placed at $76.20 with a massive overall gain of 13.14%. The market capitalization has reached $734,713,762 with the 24-hour volume traded of $1,004,210,141. The DASH/BTC pair is also performing positively with a gain of 10.10% bringing the current level to 0.00640205 BTC.
Stellar Lumens (XLM)
Stellar has been able to sustain its positive move for the second consecutive day and is looking for major price recovery action in the market. From the past few days, the cryptoasset was looking volatile to break below the crucial mark of $0.080. However, the positive sentiment prevailing in the overall market conditions prevented the downfall and currently provides bullish momentum to the digital asset. The CMP is placed at $0.083910 with an overall gain of 3.30% bringing the market capitalization to $1,747,961,273 with the 24-hour volume traded of $296,734,941. The XLM/BTC pair is also performing positive with a gain of 0.74% bringing the current level to 0.00000715 BTC.
Zcash (ZEC)
Zcash is also attempting to gain bullish levels with the help of positive sentiments prevailing in the overall market conditions. After testing the support level of $62.00, the cryptoasset has now jumped to $66.00. The CMP is placed at $66.33 with an overall gain of 5.86% bringing the current market capitalization to $682,589,504 with the 24-hour volume traded of $656,189,134. The ZEC/BTC pair is also performing positive with a gain of 3.23% bringing the current level to 0.00565311 BTC.
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Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
