Today, the cryptocurrency market is colored green, Bitcoin and the main altcoins began to recover from yesterday evening. The total capitalization of all digital assets in circulation increased over the past 24 hours to $ 116.2 billion.
A pair of BTC / USD, finally, overcame a 5-day series of continuous losses. The growth of Bitcoin (BTC) was less impressive compared to some altcoins, although the coin managed to move away from the critical level of support. The recovery does not look convincing as long as the price stays below $ 3,500.
Meanwhile, experts note that the technical picture implies a higher potential, since BTC is moving away from oversold territory.
Naim Aslam, chief analyst at Think Markets UK, said the following:
Over the past three days, BTC has been trading mostly in a sideways trend, and the fact that it could not break above the 50-day moving average shows that bulls have no impulse. But things can change in the coming days, because the Relative Strength Index (RSI) has fallen into the oversold zone.
Ripple (XRP) is a growth leader. The coin has grown by more than 10% in the last 24 hours. Such a recovery began on the background of news about the integration of SWIFT with R3. The price of XRP is $ 0.32 amid rising volatility. The coin is overbought at the intraday level, which means that a downward correction is possible during the day.
Ethereum (ETH) is trading at $ 109, adding 3.2% in the last 24 hours. The coin moves in sync with the rest of the market; however, steady movement above $ 110 will create favorable technical conditions.
And what do you think about this?
