Wednesday, Apr. 17 has started with the general growth of the cryptocurrency market. The top 20 coins keep rising, except Bitcoin SV, which is still cannot recover after delisting from the Binance exchange.
Although the crypto market is in the ’’green’’ zone however it lost $3 billion of trade volume over the last 24 hours.
Despite the fact that some altcoins are growing faster than Bitcoin, BTC’s domination rate increased by a few points and now is 52.4%.
The end of Tuesday game some hope to Bitcoin holders, as its rate increased by around $200 just in few hours. Currently, the asset is trying to fix at the $5,200 mark.
Last night, buyers managed to increase the volume and nightly recovery was completed on the approach to the level of 100% Fibonacci at $5,218.
Based on the 1-hour chart, one can see that the bullish trend line which started on April, 1 was not broken and the market is still dominated by buyers.
During the day, Bitcoin is in the upward phase of the movement, which is expected to be completed in the zone of dynamic resistance $5,150 - $5,200. So, traders can consider buying in the direction of this area, and then taking profits and sales.
The price of BTC is trading at $5,244.77 at the time of writing.
Ethereum is copying the Bitcoin pattern, as its rate increased by almost the same percentage. At the moment, the quotes are trading between the support zone at $155, which was formed on April, 2 and the resistance one at $170.
The Stochastic indicator is on the border of the neutral zone and has not yet reached the oversold line. Today it is possible to resume growth and re-test level $170. This area will support the pair and become the basis for continued growth.
The price of ETH is trading at $167.19 at the time of writing.
There is significant consumer interest in XRP at $0.32. The price of the coin even rose above 0.3225 against the US dollar, but could not overcome the level of $0.3229.
One of the possible reason for such growth is that Coincheck added Ripple (XRP) to the new over-the-counter trading platform.
A move above 61.8% Fibonacci will improve the short-term technical picture and allow further recovery to the level of $0.33.
The price of XRP is trading at $0.3255 at the time of writing.
"Exchange commerce" image by 123rf