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Crypto rises, several coins surpass expectations, investors hopeful again

Crypto

TL;DR Breakdown

  • BTC increases by 10% and smashes resistance levels within the past 24 hours.
  • Ethereum is once again in the $1,150 resistance levels, but XRP lags with a closing price of $0.300 
  • The cryptocurrencies HEDG and DOT rose a stunning 50% and 35%, respectively, with DOT reaching the exceptional level of $11.

Bitcoin 

After a short-lived crash earlier this week, many cryptocurrencies are now surging once again, reaching levels pleasing to cryptocurrency investors. Bitcoin (BTC) is expected to rise above a solid $32,400, with a support level of $33,200. Its resistance level, $35,000, has already been broken when writing this article, and earlier this morning, we have seen prices well above USD 37,000. This bull run has made speculators and investors alike seem hopeful in the cryptocurrency once again.

Crypto
Graph by TradingView

Ethereum

Mirroring the movement of Bitcoin, Ethereum has now reached the USD 1,100 resistance bar but stays below $1,150. Ethereum has now stabilized around $1,100, with prices ranging from $1,080 to $1,150. Latest signs indicate a possibility of the currency increasing to $1,220. 

BCH, LTC and XRP 

Bitcoin Cash, BCH, has surged 5%, making the currency almost hit its all-time high of $500 once again. However, it never quite reached those levels, stabilizing around $485 instead, a significant increase from previous prices. Optimistic about a bullish run, investors hope for the currency to surpass levels above $500, even breaking above the resistance level of $510.

Litecoin has behaved similarly, with prices now jumping 10%, which broke the expected $145, making the asset settle around a price of $150. The coin is expected to reach $165 within a few days, descending towards $140 afterwards.

Despite the surge across many cryptocurrencies, XRP lagged behind in momentum, closing with a disappointing $0.300 and a resistance level of just $0.312, was not met at the time of writing. The support level of $0.265 doesn’t seem like a far-fetched possibility.

Alessandro Grossi

Alessandro Grossi

Alex is a crypto enthusiast which started getting into this fantastic world of digital currencies with minuscule trades in 2019. After some fortune and misfortune, he decided to mix the two things he enjoyed: Trading and writing. Not much later, he became a full time writer for Cryptopolitan, which he proudly represented ever since.

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