After undergoing a short bearish rally, the various cryptocurrencies are back on top. Over the last 24 hours, fortunes have changed for the Altcoins’ market. The various crypto candles on charts have turned from red to green which signals a Bull Run.
The upward rally is perhaps a sign that cryptos will get to the higher highs as predicted by market players earlier in the year. This has been highlighted by improved support zones and breached resistance zones which indicate an upward price rally. If the Bulls can keep up this momentum, we are likely to see better prices in the coming days.
In the markets, investors are increasingly gaining confidence in cryptocurrencies. Most Relative Strength Indexes (RSIs) are headed up which signals positive investor sentiments.
XRP beat off a strong bearish rally that had engulfed it towards the weekend. In the last two days, an uptrend has held with all indicators pointing towards a bullish trajectory.
In the last 24 hours, XRP has moved up by 2.5% after it started off yesterday trading at $0.30059 against the current rate of $0.31797. This represents a desirable uptrend which has occasioned the support zone to move upwards. Additionally, resistance was tested and breached severally.
In the markets, there were increased buyouts in XRP as investors looked to make returns on their investments. These positive investor sentiments were reflected in the markets where the RSI (A) is headed up.
At the moment, all indicators are pointing towards a Bullish outlook in the coming days. The 9-day Moving average (B) is currently above the 30 day EMA (C) with the two moving in a reverse contracting triangular pattern. This indicates that an upward trend is incoming.
Like XRP, XLM has put up a stellar performance over the last 24 hours. It registered an uptrend to the tune of 0.5%. It began the day trading at $0.081524 and is now trading at $0.086031. This upward movement was also reflected in the pair’s price consolidation trend. Support moved upwards from $0.08 to $0.082 while resistance was tested and breached several times.
The pair was marked with positive sentiments from investors with the coin selling $56.7 Million in the last 24 hours to clock at $1.62 Billion in market capitalization figures. The uptrend is as indicated in the RSI (A).
In the course of the day, the 9 day EMA (B) crossed over above the 30 day EMA (C) and the two are moving in a reverse contracting triangular pattern. This shows that better prices are on the way.