Is This The End of Crypto Winter?

By Kapil Gauhar

The participants of cryptocurrency market entertain a hope that they have survived the crypto winter as in recent days, the market has been growing strongly, while the overall market value of total digital assets in circulation exceeded $132B for the first time in more than a month.

Bitcoin Cash (BCH), DASH and EOS are among the best-performing coins – all of them showing a double-digit increase on a day-over-day basis.

Bitcoin among all is doing reasonably well. The first digital coin is finally changing hands at $3,902, gaining over 5% in recent 24 hours during a strong bullish momentum. A decisive breakthrough critical technical layer developed nearly $3,700, that triggered stop losses on speculative shots and pushed the price to the higher. At press time, $4,000 is in focus. Once it’s out of the way, the recovery is bound to gain traction and take us to new 2019 highs.

Ethereum touched $151 handle amid early Asian hours but retraced to $146 by the time of writing. A sustainable move above $145.70 resistance (1-month Resistance 1 Pivot Point) created a powerful upside momentum which may result in a strong bullish trend in the short-term. In addition, Ethereum sees a sharp rise in average daily trading volumes ahead of Constantinople update, that is also a positive signal for the coin. Ethereum has gained 7.5% on a day-over-day basis.

EOS dethroned Litecoin from 4th place in the global crypto rating. The coin has gained about 23% on a day-over-day basis and touched $3.88 on Monday. EOS/USD is changing the hands at $3.60 at the time of writing.

Ripple’s XRP attempted a break above $0.3 but returned to $0.3249 by the time of writing. The 3rd largest digital coins is trading 4% higher from this time on Monday, but the upside momentum is waning.