The new week has started with the continued growth of the crypto market as most of the coins are doing well at the moment (in the green zone).
The bullish run seems to be getting stronger going by the activities in the past 24-hours. The bulls have been covering a high range for the past week and major coins have been on the rise. Let us check out the details:
Polkadot’s Coin value stands at $22.407
The coin received a bullish gain as the price crossed the $22.407 resistance. It seems that the price will soon grow past $23.34 resistance if the current trend continues. Daily and hourly Polkadot price analysis show a bullish inclination for the day, as recorded a rise in DOT/USD market value.
The price successfully reached $22.41 high and accomplished its target. Further improvement in coin value seems near and we expect DOT/USD to continue upside for today as the bullish momentum intensifies as the days come by.
Similarly, the eighth-largest crypto currency, XRP, has demonstrated major growth (by 15.5%) in the past 24 hours and is changing hands at $0.7739 at the time of this writing. Its price surge surpassed that of the other top 10 cryptocurrencies, including Bitcoin.
As the XRP price soars, interest in this digital currency seems to be going up too. XRP has surged more than 30% since Friday, including today’s growth.
Memecoin Shiba Inu (SHIB) soared by 22.58%
SHIB was the sixth most traded cryptocurrency by Coin Market Cap at the time of publication, following Tether, Bitcoin, Ethereum, Bitcoin Cash, and Binance USD. As the 14th ranked cryptocurrency in the world, Shiba Inu traded at $0.00002789 today after a growth of over 22 per cent over the last 24 hours.
What triggered that rally is not discernible at the moment, however, conjectures on social media have it that investors seem to be getting bullish on SHIB as a recent announcement indicates that a public testnet of Shibarium, a layer-2 blockchain for Shiba Inu, will be launched ‘very soon.
Luna, ranked No.9 on Coinmarketcap, is up over 20% in the last week after having a rocky start to the year. The reason for this upsurge is that the founder of Terraform Labs —Do Kwon — presented a proposal to the Terra community last week. This proposal (worth around $40m) revolves around a major sports sponsorship deal with an anonymous team.
Ethereum, the second cryptocurrency in the world and the largest decentralized network are up at 3.09% in the last 24hr. Ether trades at $3,062 currently after sellers briefly pushed the price to the $2,950 mark on Sunday evening and buyers responded with a weak bullish impulse
Over the weekend, the POC line ($41,650) acted as a resistance and kept the price of Bitcoin (BTC) in a narrow sideways range for a long time.
But on Monday afternoon, Bitcoin, the pacesetter or the crypto market gained over $6,000 in the last three days and hit $43,310, a 4.48% increase in the last 24hours(at the time of writing this).
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