Crypto Market Sets Out in Equalization as Bulls and Bears Compete for the Upper Hand

Why are there Always Reasons Why a Bull Market should not be Trusted? Is Bear Market the Norm?

Crossing the first week of July, the market has been headed for a rather fair equalization, not for traders and investors but for bulls and bears which have constantly exchanged power in controlling price movement over the past one week.

However, the week is beginning in a rather competitive manner as the bears and bulls struggle to maintain momentum.

At present, altcoins are attaining very slight gains, the majority of with stem between 1% to 5%, while other altcoins are losing the same percentage at this time. The bulls seem to have a slight edge, owing to the fact that the majority of the top 100 cryptocurrencies as listed by coinmarketcap are up with slight gains.

Market formation 

Bitcoin which is one of the lowest gainers at press time is currently trading at a price of $11,400 which may be a safe spot, but having attained gains of barely 1.91% against the USD, a crossover to the resistance levels between $11,900 and $12,000 will require a great number of time in order for trading volume to meet up.

If traders from Coinbene (which presently makes up the highest volume of $752.51 million since the last 24hrs with pairs of BTC/USDT) experiences a pronounced decline, Bitcoin could take yet another dip below $10,000 as it did on the 2nd of July.

Altcoins

Meanwhile, altcoins makeup top gainers and this comes with huge possibilities of price breakouts. With gains ranging from 5.58%, 8.52%, 4.30% and 6.37%, ETH, TRX, ADA and XMR are dominating with bullish uptrends.

Crypto Market Begins in Equalization as Bulls and Bears Compete for the Upper Hand
Via Coin360.com

ETH which has impressively stabilized over the week has managed to make a crossover to $304 at press time. Both Tron [TRX] and Cardano [ADA] are going head to head with $2.33 and $2.11 billion respectively in market cap. Monero [XMR] with 6% in gains is only a few million away from snatching the 12th spot from Stellar [XLM].

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