The cryptocurrency market is once again impeded on its track towards the ceiling as Bitcoin makes a halt around $8,100 and $8,200 for the fifth time in a week. Although some are saying the entire market is recovering because of the rising market cap of the whole ecosystem, but it is evident that Bitcoin has found another hurdle in breaking the $8,300 price.
Yesterday, XRP and XLM signaled the strength of altcoins, grabbing a significant addition to their value. According to TradingView, after the charge-up of altcoins, Bitcoin dominance dropped below 69%, a point it did not reach in two months. To make things worse, Verge (XVG) and ABBC Coin are flaunting their strengths in the market, adding whooping sum to their value.
The unending uptrend swapped between altcoins continues to threaten the market share of Bitcoin, signaling that the leading coin may pull back to witness a slight shrink, where it would form a dominance support level around 66%.
However, the day has been quite blissful for XVG and ABBC Coin as both assets ignited huge momentum, and they are on the path of recovery.
Verge XVG Intraday Price Analysis
XVG token has been tremendous in the market today. The privacy-oriented cryptocurrency opened the day trade being placed among top gainers in the market.
Verge XVG has since the last 7 days maintained balance between $0.0031 and $0.0032 against USD until yesterday when XVG joined its contemporary on the race to the ceiling.
Since then, XVG has been maintaining a high profile momentum with a somewhat uninterrupted ride on the rising wedge even though a few number of altcoins fell off the ladder.
Image Source: CoinMarketCap
Verge (XVG) at press time is priced $0.003781 after bagging an 11.99% added value against USD in the last 24 hours. Against BTC, the cryptocurrency has also managed to trade high at almost the same rate (11.48%) as Bitcoin looks moribund.
Alanmaster, a cryptocurrency analyst on TradingView, after observing the trend of XVG in the last 2 days, said Verge is already scaling hurdles on the upside trend and this time it will finally grow.
Alanmaster said after a previous analysis of XVG’s trendline on the possibility of retracement or upgrowth, he could predict that cryptocurrency would budge up by 200% or more in the coming days.
Image Source: TradingView
He added that the trendline is charging up with good strength and volume, therefore XVG is due for growth.
ABBC Coin Intraday Analysis
The case looks familiar for ABBC Coin, the cryptographic project that focuses on distribution, finance, shopping, and security.
Nevertheless, the 43rd ranked cryptocurrency is growing at a faster pace than Verge. A unit of ABBC against USD cost $0.226229 at press time after subduing the fiat by 15.58% in the last 24 hours.
Image Source: CoinMarketCap
ABBC saw a rapid rise from $0.198 to $0.233 towards the start of the Asian trading session yesterday. Even though it witnessed slight regress, the crypto asset continues to maintain support above $0.21.
However, this is all happening after the integration of a hybrid account model on the ABBC wallet. ABBC proffered the new addition to offer its users better experience while using its wallet to trade.