The cryptocurrency market had an incredible day as most cryptocurrencies recorded daily gains of over 5%, some even reaching the double-digit gain levels. This move was led by Bitcoin reaching and surpassing $9,000. Bitcoin is currently trading for $9,201, which represents an increase of 17.21% on the day. Meanwhile, Ethereum gained 11.9% on the day, while XRP gained 7.9%.
Streamr DATAcoin took the position of today’s most prominent daily gainer, with gains of 60.65%. Aave lost 2.18% on the day, making it the most prominent daily loser.
Bitcoin’s dominance soared compared to yesterday’s dominance levels. Its value is now 65.19%, which represents a 1.29% difference to the upside.
The cryptocurrency market capitalization increased significantly when compared to yesterday, with its current value being $250.8. This value represents an increase of $25.92 billion when compared to the value it had yesterday.
Honorable mention
Coinbase and Binance amid Crypto Surge
Bitcoin’s price jump April 29 brought a few interesting things about certain exchanges to light. Binance, the world’s largest crypto exchange at the moment, has hit $11 billion in trading volume just for the past 24 hours, therefore reaching an all-time high. The last time the exchange even came near $11 billion was back in early 2018.
Unlike Binance’s thriving volume, Coinbase has experienced several major outages that stopped trading. Their status page, website, mobile app, as well as API website, experienced the outages.
_______________________________________________________________________
Technical analysis
_______________________________________________________________________
Bitcoin
The largest cryptocurrency by market cap explosively bounced to the upside, breaking the ascending trend. The price quickly rose from $7,750 levels all the way up to $8,980, where it was stopped. However, the newest push by the bulls brought the price above the $8,980 resistance level as well as the $9,120 level. The move was stopped by the $9,250 resistance level.
BTC’s volume increased greatly, while its RSI level stepped deep into the overbought territory on all time frames. Its current value on the 4-hour time frame is 90.
Key levels to the upside Key levels to the downside
1: $9,250 1: $9,120
2: $9,735 2: $8,980
3: $9,870 3: $8,820
Ethereum
Ethereum followed Bitcoin’s bullish pattern and gained quite of bit of value in the past 24 hours. The second-largest cryptocurrency by market cap passed the $198 level and soared towards the $217 level, where it got stopped by a large number of sellers. However, the most recent bullish move brought the price above $217. The move reached exhaustion at the $225.5 resistance level, where the price started descending.
Ethereum’s volume almost doubled today, while its RSI level reached 82.5 on the 4-hour chart.
Key levels to the upside Key levels to the downside
1: $225.5 1: $217.6
2: $240 2: $198
3: $193.6
Ripple
XRP also broke out of its usual pattern and soared, reaching the price level of $0.235. The third-largest cryptocurrency broke the $0.227 after some consolidation and testing of the resistance level. The price is now trying to find a place to consolidate at as well as to test the $0.227 support level.
XRP’s volume skyrocketed, while its RSI level reached the value of 85. The key level of $0.227 will remain on the “upside” side until XRP resolves its price uncertainty.
Key levels to the upside Key levels to the downside
1: $0.235 1: $0.227
2: $0.285 2: $0.205
3: $0.296 3: $0.2
Related posts
Daily Crypto Review, Mar 27 – XRP recording double-digit gains as Ripple Labs donates $200,000 to fight COVID-19
Daily Crypto Review, Apr 2 – Bitcoin failing to break $6,640; What’s next?
Daily Crypto Review, Apr 9 – BCH surges after halving, BSV outperforming
Daily Crypto Review, Jun 12 – BTC Plunging To Two-Week Lows; Binance Launching BTC Futures Contracts
