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Altcoins Mark Return Of Bullish Phase But Analyst Warns Bitcoin Risks Drop To $5,600


Altcoins Mark Return Of Bullish Phase But Analyst Warns Bitcoin Risks Drop To $5,600

The crypto market since turning bullish right at the start of the week continues to soar. The gains from the last 24 hours have turned from moderate to explosive. Leading the pack is Ethereum. In the last few hours, this token has gone on to surge by as high as 20%. Bitcoin has soared by nearly 10% to climb as high as $7,300. With it, it has inspired a market-wide rally that has seen a number of tokens break above recent resistance. As a whole, the crypto market has broken above $200 billion. At the time of writing this, the market seems to have slowed down. Ethereum is trading just above $160, XRP is above $0.20 while Bitcoin is above $7,200. All three are at crucial resistances that will set the short term trend. If the bulls can maintain the volume by continuing to gain, prices will continue upwards. If there are no buyers around this position, a correction will be imminent. In case of a correction, there is the certainty that the higher highs set will ensure a higher low allowing for the bullish phase to reignite again. Read More...