Altcoins are on fire! After BTC started a strong bullish trend breaking the $6000 barrier many traders returned to the game, and it seems that this is not only an isolated phenomenon anymore as it is replicating in the rest of the markets.
BTC is Not Alone. Altcoins are Also Going to The Bull Camp
Altcoins did not have the same stimulus as BTC. It took a few days for them to stop displaying red numbers, however, right now each of the top 15 cryptocurrencies (not counting stablecoins) is reporting a bullish behavior.
However, it is possible to go further. Not counting the stablecoins, at the time of writing this article, all the cryptocurrencies in Coinmarketcap’s Top 100 are performing satisfactorily with the only exceptions being KuCoin Shares (-1.01%) TrueChain (-5.82%) and Maximine Coin (-0.35%).
That is to say, 97% of the most important cryptocurrencies are currently showing a strong bullish behavior. And it is possible to go even further: Most of the cryptocurrencies are not only in bullish but are reporting 2-digit growths.
Of the top 15, Cardano (ADA) is the undisputed champion with a 22% growth in the last 24 hours. The “worst” performing crypto is Bitcoin SV with growth close to 7%,
Bitcoin doesn’t stop its bull run. This cryptocurrency is the main pair against which the rest of the cryptocurrencies are traded. After a brief fall due to the Binance hack, the token could maintain its trend, overcoming the strong resistance of $6000 and testing the $7000.
Ether is the second most important crypto in the global marketcap. The growth in 4-hour candles shows a large green candle after a strong bearish period of several days. The RSI and cross on the MACD are a good signal for traders who operate in time frames of less than one day.
The aboslutely-not-created-by-Ripple token has a general behavior similar to ETH. After a sustained bearish trend, the token experienced a bullish correction, however, a little caution is recommended as the last candle is bearish, and the MACD cross does not seem very convincing. The RSI, however, is quite low, which could be a good signal for hodlers.
Cardano is the crypto with the best performance of the top 15, surpassing the 20% return. The MACD shows an optimistic outlook, although it is advisable to trade with caution. At the time of writing, the token costs 1070 satoshis.