Bitcoin price & Altcoin analytics

The crypto currency markets take on another dimension as they survive the overbought market conditions. Chainlink, Binance Coin, Monero and Huobi Token have resumed an upward move to retest the recent highs. Conversely, HOLO is still in a sideways trend but is still making an upward move

Recently, Litecoin made an impressive move to reach a high of $80. LTC could not continue with the uptrend. The bulls failed to push the price over the resistance. As a result, the bulls were resisted as the price fell to $65 low. It should be noted that Litecoin traded and reached the overbought region of the market.

The entire cryptocurrency market started February 18, 2020 with a good trading impression. The uptrend of some stocks, which have been strong at the start of the market, is gradually slowing down. All of the top 10 have risen, and 83 of the top 100 have a green light, indicating a rise. The entire market cap is increasing and it is now standing at around $285.2 billion.

Today, Ethereum is falling as a confirmation of its oscillation between $157 and $173. The price movement has remained the same since January 19. The price is on the downward move after its resistance at $170. The fall is supposed to extend the low of $157 and then the sideways move will follow. Nonetheless, if the bears break the support at $157, Ethereum will decline to a low of $144 or $136.

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.