The bulls have held the fort over the last day, managing to keep the crypto market steady at yesterday’s total market cap of $1.42 trillion.
The crypto market for today looks like this:
Despite the relatively slow gains on most of the top cryptocurrencies on the market, a lot of them are green. This excludes some of the most unnaturally bullish cryptocurrencies in the market over the last month, like Solana, Link and Avalanche.
The amount of liquidations in the crypto market echoes the relatively slow price movements and sits at around $64 million over the last 24 hours.
The bulls and bears have shared these liquidations almost equally, at $32.1 and $32.4 million respectively.
When Will Bitcoin Break And Close Above $38,000?
Yesterday's candlestick wasn't too bullish (or even bearish for that matter). This is in contrast to the candlestick from the day before when Bitcoin rallied to $37,860.
Investors continue to wait for a breakout from $38,000 and if we do not see a retest of $36,000 this weekend, Bitcoin is bound to break past $38,000 before next week.
Ethereum: $2,150 Retest Before Next Week
Yesterday’s candlestick was even less volatile on Ethereum.
However, the mission remains alive. Ethereum is still very bullish and is bound to attempt a retest of $2,150 very soon. This is especially certain if we can see a fairly improved amount of volatility on today’s candlestick.
Incoming Bullish Wave On XRP
XRP broke through $0.5766 to the upside at the end of October and even went as high as $0.75.
However, XRP also declined for a retest of $0.5766 in a disappointing 25% decline. This week, though, XRP has entered recovery mode. The cryptocurrency has converted $0.5766 into support and is aiming for a rebound move.
XRP only has to break past $0.75 to confirm its bullishness, and then retest July’s $1.
Watch Out For SSV Token ($SSV)
SSV Token, or simply $SSV is the second largest gainer on Binance, with a 20% intra-day gain. Over the last two weeks, this cryptocurrency has been in a bullish wave, after hitting a yearly bottom of about $11.4.
Since mid-October, SSV has rallied by about 100% and is now facing resistance at $22.
Watch out for SSV, because if we see a break and close above $22, we are also likely to see further 30% gains as it rallies straight up to $28.7 or thereabout.
SEI IS On The Verge Of A Breakout
SEI has made more than a 7% price increase over the last day. However, its price increase spans for much, much longer than that.
Since mid-October, the cryptocurrency has rallied by more than 130%. This time around, however, SEI is facing resistance around $0.2160. A break above this price level would result in a 30% price increase, straight up to $0.2815. Conversely, if SEI fails to break past this price level, we are bound to see a price decline down to $0.1897.
#BTC #ETH #XRP #SSV #SEI
