Bitcoin price & Altcoin analytics

Yesterday, the entire market capitalization of the cryptocurrency industry increased by around 9.5% to approximately $238.112 billion. That was achieved with $165.287 billion daily traded volume, 203% volume increase which hypothetically indicated the outset of the 2020 alt season, and possibly the next bull run. Even though Bitcoin (BTC) price soared with the rest of the industry, it didn’t change as positively as the rest of the major altcoins, so, it managed to decline by more than two points of dominance, and reduced up to almost 66.4 percent.

Bitcoin price breaks $8,400 but faces resistance at $8,800. Now the BTC/USD pair is expected to reach the $9,500 price level.

Unexpectedly, Bitcoin Cash made a surprise upward move to a high of $360. The bulls have successfully penetrated the resistance levels of $200, $240, $270 before they were stopped at $360. There is still the possibility of its continuous move if the momentum is sustained.

In the past few days, Bitcoin formed a weird correlation to normal hide-out assets such as Gold, when its trading price skyrocketed as political turmoil between the United States and the Middle East region started increasing earlier this year, and the price began plunging as tensions slighted relaxed. Due to the fear of losing their holdings, it is expected that most people living in both regions, decided to seek safe haven in cryptocurrencies especially BTC, and because of that its price had to surge.

Notwithstanding the brief upward move and subsequent fall, the bulls defended the low at $136. The price moves up to $143 after a successful defense of the support. Luckily, Ether is in the bullish trend zone. The upward movement will likely continue to the recent highs. Assuming, the bulls sustained the price above EMAs, then we should expect the market to reach a high of $157.

In the previous week, Litecoin made remarkable moves but failed to break the overhead resistance. Eagerly, a breakout above $50 would have propelled the coin to rally above $60. Rather, Litecoin was repelled at $48 and it dropped to $44 low. The consequence is that LTC will face another selling pressure.

BCH’s upward move suffers a hold up. The bulls made a surprise infiltration over the $240 resistance but failed to sustain the uptrend. BCH has been repelled and on a downward move to $227 low. At the current low, there are two possibilities.

Surprisingly, Ripple has fallen to a low of $0.20; notwithstanding its earlier rally to $0.22. It is a fact that Ripple had been trading between $0.18 and $0.20 since December 17. The sharp upward move was presumed to be a positive move to take the coin out of the downtrend.

The pair fell again to a $136 low and pullback. Last week, ETH was making a positive move and was able to prevail over the $136 resistance. The uptrend was short-lived as it reached a high of $147.50. The bears came back and pushed the price to $136 low. The bears are currently defending the resistance zones. The pullback after ETH fell has resulted in another fall.