Cryptocurrency market overview: Bitcoin stalled at $4,000, EOS beats the market with 7% gains

  • Major cryptocurrencies are rangebound with a bullish bias
  • Bitcoin stays unmovable in recent 24 hours
  • EOS is the best performing cryptocurrency of the day.

The cryptocurrency market is rangebound during early Asian hours on Thursday after a strong rally at the beginning of the week. However, the overall trend remains bullish with major altcoins gaining from 1% to 6% in recent 24 hours. Bitcoin stays unchanged as the bulls are stuck under $4,000. The total capitalization of all digital assets in circulation hit $135B, which is the highest level since January 10.

Bitcoin (BTC) is paralyzed under $4,000, as the bulls need to pluck up courage for a decisive breakthrough. The coin is trading above DMA100 for the first time since September 5, which is a positive signal. However, a lack of progress on with $4,000 is somewhat discouraging. 

Ethereum (ETH) has gained over 2.4% in recent 24 hours to trade marginally above $147 at the time of writing. ETH/USD follows the global trend on the market, meaning that more upside may be in store for us. The next bullish target is $150.00 followed by the recent high at $151.00.

Ripple’s XRP, the third largest coin, is grinding higher. XRP/USD settled at $0.3280, with 1% gains in recent 24 hours. It is still well below the recent high of $0.3505, but the overall trend remains positive as long as the price stays above $0.30.

EOS is the best-performing digital asset out of top-20 with nearly 7% gains in recent 24 hours and 35% on a week-over-week basis. EOS/USD is trading at $3.84 with the next focus on $4.00. 

Get the 5 most predictable currency pairs

About Author

Comments are closed.