Bitcoin and the entire cryptocurrency market look to be making attempt to fill the void created last week as leading digital asset BTC and altcoins rally upward. After the short while consolidation below $9,000, Bitcoin witnessed a breakthrough beyond this point in the last 24 hours.
Similarly, a number of altcoins are performing marvelously in the market. The likes of Electroneum, Zilliqa, and Omisego have created more attention for themselves after displaying an impressive rally on the upside trend with huge added value in the last 7 days.
At press time, Bitcoin is valued $9,451 having added more than 4% to its value in the last 24 hours. Analyzing Bitcoin’s performance on the 1-hour chart, it can be observed Bitcoin is maintaining positive drive above its resistance and the rally appears to be strong.
Considering that Bitcoin has tested this point more than 3 times since April, the pullback by Bitcoin can be branded as a recoup attempt, hence Bitcoin willpower to rise above $10,000s continues to increase.
However, if Bitcoin manages to cross above the $10,800 level in the next 56 hours and it stays above this point for another 48 hours, we’ll get a clearer image for a break above $10,000.
Electroneum (ETN) Price Analysis
After the huge Electroneum (ETN) price fall mid-May from $0.010 price to $0.005, a change in direction has been seen in the fractal of the cryptocurrency. Since the last 7 days, Electroneum has been maintaining a steady growth on the upside trend.
According to CoinCodex, Electroneum has added more than 55% to its value in the last 7 days and more than 13% in the last 24 hours against the US Dollar.
On the 5-day chart of Electroneum, it was observed that the Bollinger Bands is closing in slightly, suggesting a reduced market volatility, and the relative Strength Index remains between the oversold and overbought zones on the charts.
Zilliqa Price Analysis
Zilliqa looks to be stronger on the upside trend. Since the last one month, the cryptocurrency has been rallying on the upside trend steadily with significant added value. Per information on the ZIL/USD 1 month-chart, Zilliqa has been recording steady growth in the market, safe for some slight hiccups.
Zilliqa has witnessed significant gains in the last 1 months and 7 days of the market. Against the US Dollar, 41.94% has been added in the last 7 days and over 148% value growth has been seen in the last 1 month.
The Bollinger Bands of Zilliqa also signals a reduction in market volatility, but the relative Strength Index of the cryptocurrency remains close to the oversold area after breaching into the overbought area earlier.
Omisego Price Analysis
Omisego looks slightly bullish in the market than most crypto assets. After retracing it steps from a high value of $1.59 on May 23, Omisego has begun to signal a recovery gradually as the cryptocurrency tries to create solid support above $1.60 price.
As revealed on the 14-day chart of the cryptocurrency, there has been a change in pattern in the fractal of OMG/USD since May 25 when the 200-day SMA went above the 100-day SMA, signaling bullishness.
Omisego has added more than 13% to its value against the US Dollar in the last 7 days.