Yesterday was no doubt a good start to the week. Most cryptocurrencies closed yesterday on the green as they all recorded some improvement to their value. Many supports held out fine while many resistance levels broke.
Here is the crypto market outlook for today.
Yesterday, the $49,600 support held out as traders used it to support their crusade to $52,000. The support now stands as the strongest so far as a lot of other support stands between the $49,600 support and the current price.
Today, traders will look forward to seeing prices edge closer to $56,000. To make this happen, the $54,500 resistance must flip and provide support for the next bid to test $55k. At the time of writing, the $54k mark became support and is aiding the attack on other resistance levels.
Following bitcoin closely, the second-largest coin by market cap started low yesterday but ended better than it started. The $1,650 support did not come under attack as was expected yesterday as a result of swift actions from bullish traders to put the market in full gear for a bullish run.
Today, ETH is expected to continue the bullish run and break more critical levels. The top-level so far is the $2,000 mark. Breaking that resistance will path the way for a new all-time high. Before that, ether must break the $1,900 resistance for a chance to test $2,000.
Yesterday, Ripple was on its way to $0.5 as it was a very crazy surge. The surge lasted a little more than 1 hour as it rose from $0.46 to 0.48 before it experienced a little sellers congestion that seemed to level the price.
XRP will look to rekindle a surge as it experienced yesterday. If that sort of surge happens, traders can sit back and enjoy the ride to $0.5. If things don’t go as planned, ripple must test $0.49 resistance for a clear improvement to price.
Most coins will like to ask UNI what it feels like to be in the top 10 coins by market cap. It requires staying above a given pivot point and breaking more resistance to remain in the top at the top.
In its bid to remain in the top 10, UNI is trading above $32 and must continue to trade above it. To improve its chance If overtaking XRP, UNI will be looking to break the $34 resistance today and remain above it.
Today is starting a little better than yesterday, traders hope to see the listed cryptocurrencies reach the outline marks. Will all expectations be met? Finger crossed.
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