A new green wave is in the Bitcoin and altcoin news today, showing that there has been a fresh influx of trading capital. The markets are over $200 billion in terms of the total cap and Bitcoin price is back to where it started and trading below the $7,500 line against the US dollar.
According to analysts, a reversal like this is good. However, there is still a lot of pressure surrounding the markets – but it is likely to hold for now on. With a short term contracting triangle forming with resistance near $7,220 on the hourly chart, we can see that Bitcoin could rise again to the $7,500 and $7,600 areas soon.
Meanwhile, as the situation is good for Bitcoin (BTC), it could definitely be better for Ethereum (ETH). Speaking of, the biggest altcoin is now in a plus but only below 1% and still at $148. In order for traders to see a nice move, ETH needs to move above $150 very soon.
Next on the list is Ripple’s XRP token. The Ripple news today show that at $0.2183, XRP is solid with a 1.32% increase on the day but just like ETH, needs its resistance to be at $0.2500 at least in order to initiate a new run.
Bitcoin Cash (BCH), EOS (EOS), Binance Coin (BNB) are next. All of these altcoins posted gains over 2% and are serious in the battle of the best performing altcoin in the top 10 right now. The barrier to a new bullish run, however, is still there and BCH needs to clear $220, EOS to go above $3 and BNB to visit $18 for a nice momentum.
The only loser in the top 10 is Bitcoin SV (BSV) which managed to shed its $100 value and fall to $97. A 2.55% decline was formed overnight for this coin and the situation is not so good in the short term. In other words, some analysts predict that BSV could soon visit new lows.
In the top 20, the situation is still. There are many increases below and with 1%, and the losers are Monero (XMR) and Chainlink (LINK) which fell by more than 2% overnight. The biggest loser in the top 20 overall is Maker (MKR) which has shed more than 5% of its value.
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