The total market capitalization of cryptocurrencies had come scaringly close to breaking down below the $100 billion mark in mid-December of last year.
Let's look at the top five performers among the major cryptocurrencies in the past seven days.
Currently, the pair is facing stiff resistance at the 50-week SMA, above which the rally can extend to $20. If this level is also crossed, a move to $25 is probable.
The cryptocurrency will pick up momentum if it makes a large range move and follows it up with further gains.
The uptrend will weaken and our bullish projections will be negated if the bears sink the cryptocurrency below the support line of the channel.
If the bulls propel the price above $10,000, the momentum can pick up and can carry the pair to $12,000.
The first indication of exhaustion will be if the bears sink the cryptocurrency below $7,413.
If the bulls push the price above $307.67, it is likely to start a new uptrend that can carry the pair to $500, which is likely to act as a stiff resistance.
Our bullish assumption will prove to be wrong if the bears defend the overhead resistance zone of $280 to $307.67 and sink the cryptocurrency below the moving averages.
In a positive for monero, the CEO of Binance tweeted that if India pushes through the crypto bill, the crypto enthusiasts of the country might shift to privacy coins.
Top 5 Crypto Performers: NEO, LTC, BTC, ETH, XMR
Published on Jun 16, 2019
by Cointele | Published on Coinage
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