Cryptocurrency Market sets out in a Bullish pattern, positions BCH, ETH and EOS for a price breakout

Cryptocurrency Market sets out in a Bullish pattern, positions BCH, ETH and EOS for a price breakout

The cryptocurrency market has taken a rather impressive turn since the last 24hrs when most tokens and coins were only making a little above 2% to 4% in gains, but as usual, the unpredictable structure of the market has moved to a more trading friendly position as more and more tokens continue to attain gains.

It is interesting to note that at press time, only 13 coins/tokens are raking in losses, all of which are between 0.10% to 7%. Not only is this current market pattern favorable enough to keep prices on a more stabilized state, but most of the top ten altcoins are also likely to go as far as making a breakout in trading price as trading volume continued to skyrocket.


Beginning with Ether, ZyCrypto reported on the possibility of the token surpassing its long term rival XRP to retain the second spot as its market capitalization was heading towards a collision with that of the XRP. Interestingly, that is still the case at the moment of this writing.


Ether seems to have stabilized, and the only difference between now and the last 24hrs is that Ether has moved from $13.10 billion to $13.58 billion against Ripple’s XRP whose market cap of $13.64 as of yesterday has only moved slightly upwards to sit at $13.79 billion at the moment of this writing.

Not only is this good news for Ether traders, seeing that yesterday’s decline of 4% did not deter the token from going up by 10%, the next 24hrs will carry Ether traders on an exciting journey as the token has even gone ahead to break its nearest resistance level to now trade at $130 at press time.


Meanwhile, a few other altcoins like BCH and EOS have followed Ether’s path with gains of 8.74% and 9.76% respectively. This current increase in gains has further positioned both tokens for a highly possible breakout in trading price as both have gradually maintained stability since yesterday. Currently, BCH is trading at $135.98, while 1 EOS is worth $2.49.

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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.