Cryptocurrency market update: Crypto bulls breathe a sigh of relief

Bulls lick wounds after Bitcoin and other coins attempt recovery.
Bitcoin cash leads the corrective upside on Saturday.

Top 5 coins’ price overview

Bitcoin (BTC/USD) is seen trading up and down, locked in a tight trading range around 11,850 levels, with a break on upside eagerly anticipated, as indicated by the symmetrical triangle formation on the hourly chart. The prices eye a break above the 12k mark for a sustained move higher. The most widely traded cryptocurrency holds onto marginal gains over the last 24 hours, with its market capitalization standing at $ 211 billion.
Ethereum, the second-largest digital asset with the current market capitalization of $22.74 billion, extends its latest bounce above the 212 handle. The coin looks to revisit the daily tops of 214.63, having found some solid support near the 211 handle. ETC/USD exchanges hands at 212.27, up nearly 1% over the last 24 hours.
Ripple (XRP) is in the green zone for the first time in five trading sessions, extending the recovering from three-week lows of 0.2897. The cryptocurrency regained the 0.30 handle and currently trades near 0.3016 region. The recovery is likely to gather steam only above the 1.3090/95 levels (as explained here). The current market capitalization of the coin is seen at $12.93 billion.
Bitcoin Cash (BCH/USD) is seen consolidating the early bounce to near 325 region, currently parked around the 320 mark, as markets reassess the broader market sentiment following last week’s sell-off from monthly tops of 356.45. A sustained break above the 330 handle is needed to negate a dead cat bounce sentiment. The most widely traded cryptocurrency gained nearly 1.25% over the last 24 hours, with its market capitalization now at $ 5.73 billion.
Litecoin (LTC/USD): The fifth most widely traded cryptocurrency by market value is the main laggard amongst the heavily traded ones so far this Saturday. The bears now target a break below 80.00, still standing at a market capitalization of $ 5.36 billion.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.