Bullish momentum is back: crypto market stages recovery
The crypto market has reversed trends and is currently exhibiting the beginning of a bull trend. The cryptocurrencies which were trading in red in the morning is staging recovery. A sea of green is now visible in the market. The top performers of the market including Ark [ARK], Nexo [NEXO] and Factom [FCT] is witnessing gains well over 25%. ARK is leading with a 34% gain. The crypto market is gradually recovering from the bear rally and prices are inching toward the bullish trendline. However, the market cap has not shown any significant improvement as the charts show minor fluctuations. The current market cap is traced at $150.57 billion.
Bitcoin [BTC] prices which dipped down to $4282 today has risen by 3% and is currently trading at $4602.99. The market cap has risen by 7% and currently stands at $80.16 billion. XRP on the other hand is still trading in red and is still under a seller pressure. However, the crypto can be seen gradually reversing trends as it is spotting weak buying. Ethereum [ETH] is trading at $137 and is exhibiting a rise of 3%. The coin would need to break out from the resistance level of $148 to resume trading in an uptrend.
Dash [DASH] seems to be the top performer among the major coins with an 8% gain. TRON [TRX] follows DASH spotting a 6% rise. Other major coins can be seen recovering at the rate of 2%. The recent crypto market crash had no apparent reason. Speculations revolved around FUD among the investors. The crypto market staged a recovery day before yesterday but did not last for long. Many analysts and crypto elites are of the opinion that the bear rally won’t last long and the market will soon reverse its current trend.
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