Let's take a look into the crypto market today, looking into bitcoin prices and ethereum prices as well as that of significant performing altcoins.
Bitcoin reached a new all-time high on Wednesday. It smashed through the long-awaited $50,000. It surpassed that level to climb above $51,000 and get a new high at $51,500. After that, it went through a bit of correction.
The door opened for further gains for the BTC past the level of its record high after there was a break out above a crucial contracting triangle with resistance near $51,200 on the hourly chart of the BTC/USD pair. After this break, bitcoin soared past $52,000 to clinch another high at $52,745. It began a decline and traded under $52,000, but the bulls were active, and the price began a fresh increase. It is currently trading above $52,000. The next significant resistance is at the $52,250 and the $52,500 resistance levels. Scaling these levels could lead to the next resistance level at $52,744. Above this, we could see bitcoin climb up to $53,000.
Ethereum traded under $1,820 yesterday. It eventually climbed above the $1,820 and $1,840 resistance levels before it began a decline. It found support at $1,800 and started a new increase. There was a crucial break out above $1,800 on the hourly ETH/USD pair chart.
It continued to gain and cleared the $1,850 and the $1,900 to reach a new record high at $1,917. It declined a bit after this to trade below $1,900. It began another increase and Peaked at a fresh all-time high at $1,926. As of the time of this report, it is trading above $1,910. The next import resistance levels are at $1,920 and $1,950. Further gains past this would mean breaking into the $2,000 level.
Meanwhile, Glassnode reports that just a week after launching Ethereum futures on Chicago Mercantile Exchange (CME), the trading volume has doubled. It currently stands at over $75 million.
1 Binance Coin
BNB has been on the rise recently. It's been on a bull run for days now and is currently trading at $192, a record high for the crypto.
2.Ripple
XRP has been shot down to 7th place on the market capitalization index. This came on the heels of BNB's recent bull run. Meanwhile, another exchange, Paybito, has suspended all trading with XRP.
Litecoin
Litecoin is also trading nicely at $230, although there are indications of it reaching $250.
Bitcoin Cash
Bitcoin Cash is currently trading at $710, with a decline of almost 1% in the past 24 hours.
In conclusion, ethereum would likely surpass $2k soon. And Bitcoin's bull run continues to bode well for the other cryptocurrencies.
