The Bitcoin and the Crypto market gains momentum in today’s market trading. The market capitalization grew higher as it pushed past the recent resistance levels and gains momentum even more. Altcoins rode the market momentum to rise along with the bitcoin and Crypto market.
The AltCoin Gains Momentum along with the Bitcoin
Many altcoin gains momentum in today’s trading. The Litecoin rode on upward pressure and saw it gain momentum of its own as it rose above the resistance level at $75 mark. If it gains momentum even more, it could rise above $80. The Tron also showed a decent amount of recovery breaking through $0.0240 resistance level. Analysts expect the strength of the Tron TRX to push It past $0.0245 in the next few days.
The Crypto Market Capitalization Grows
The 4-hour chart came out favorable as it showed a fresh jump above the $182 billion resistance level and tested resistance levels at $187 billion as it gains momentum to form a bullish pattern. The new support has formed at $180 billion. If the market capitalization remains above $180 billion, it should support the bitcoin and see altcoin sustainably gains momentum.
The Bitcoin Support Crypto Market as It Rises Above $6000
The Bitcoin enjoyed an increase in price as the market gains momentum in today’s trading. The bitcoin rose above $6000 for the first time since November. This marks a recovery of 90% from the trough it experienced back in December.
This rise marks a 2.7% day rise as it settled around $6060 in today’s trading and boasts a winning steak of 9 weekdays. This is the longest it has enjoyed since May of 2017 and came despite controversy surrounding hackers and the largest digital coin exchange. There was a moderate sell off after Binance reported that hackers stole $40 million worth of Bitcoin. If the Bitcoin continues strength and gains momentum, we could see the Bitcoin with a continued bullish streak.