Crypto rises, several coins surpass expectations, investors hopeful again
2 min readTL;DR Breakdown
- BTC increases by 10% and smashes resistance levels within the past 24 hours.
- Ethereum is once again in the $1,150 resistance levels, but XRP lags with a closing price of $0.300
- The cryptocurrencies HEDG and DOT rose a stunning 50% and 35%, respectively, with DOT even reaching the exceptional level of $11.
Bitcoin
After a short-lived crash earlier this week, many cryptocurrencies are now surging once again, therefore reaching levels that will surely please cryptocurrency investors. Bitcoin (BTC) is expected to rise above a solid $32,400, with a support level of $33,200. Its resistance level, $35,000, has already been broken when writing this article, and earlier this morning, we have seen prices well above USD 37,000. Is it going to rise even further? Speculators and investors alike seem hopeful in the cryptocurrency once again.
Ethereum
Mirroring the movement of Bitcoin, Ethereum has now reached the USD 1,100 resistance bar but stays below $1,150. Ethereum has now stabilized around $1,100, ranging from anything between that and $1,080 and $1,150. Signs seem to indicate a possibility of the currency increasing to $1,220.
BCH, LTC and XRP
Bitcoin Cash, BCH, has surged 5%, making the currency almost hit the all-time peak of $500 once again. However, it never quite reached levels so high, instead of stabilizing around $485 instead, which is still a significant increase from previous prices. Optimistic about a bullish run, investors hope for the currency to surpass levels much above $500, even breaking above the resistance level of $510.
Litecoin has behaved much similarly, with prices now jumping 10%, which broke the expected $145, making the bitcoin settle around a price of $150. The coin is expected to reach $165 within a few days, lowering around $140 afterward.
Despite the surge across many cryptocurrencies, XRP lacks to gain the same momentum, closing with a disappointing $0.300 and a resistance level of just $0.312, which hasn’t been met yet. The support level of $0.265 doesn’t seem like a far-fetched possibility.
