Posted 2 years ago | by Ben Armstrong
Crypto Markets Rise
Cryptocurrencies are trading with a bullish bias. The CCI30, a gauge of the 30 largest cryptos by market cap, has been rising over the last 24 hours. It is currently trading at 3,268. The CCI30 has traded as high as 3,290 over the last day, and appears to be in a rising trend.
Bitcoin prices are leading the crypto complex higher. BTC is up by more than 2% over the last 24 hours. It appears to have bounced off the $10,500 USD level, and is presently trading above $10,700 USD. BTC prices are clearly gaining momentum, and may stage an assault on the $11,000 level over the next few days.
BTC has been the most prominent crypto over the course of this year's bull run. It may be pointing to higher prices for the major tokens in the coming days and weeks. While most of the major tokens aren't moving much, higher BTC prices are promising.
Ethereum, the worlds second most valuable crypto, is trading up on both a daily and weekly basis. As US trading begins for Friday, ETH prices are nearly $175 USD. It appears that ETH has consolidated its bounce from the Mid-$160 USD levels, and could be getting ready to jump back above $180 USD. While ETH prices are still working to recover from recent falls, the token looks to be in a bullish phase.
The price action in Ripple (XRP) has been less bullish. It is currently trading at $0.256 USD, little changed on both a daily and weekly basis. BTC appears to be the leader in the market for the moment, but the overall strength in the crypto complex should be noted by bulls. There appears to be new support levels for the major cryptos, and they are resisting selling pressure.