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Price Analysis

Ethereum Rises 2.51% As Two Week Uptrend Continues

The cryptocurrency market continues to trade in modest jumps withe lead altcoin Ethereum seeing a small over 2.5% jump.

Written by SixJupiter Published on

How the Fab Five Fared

In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were up 0.99%. The best performer of the bunch was Ethereum, which went up 2.51% and currently is sitting near $186.49 USD. As for the worst-performing crypto out of the Big Five, yesterday that was XRP; it came in at down 0.65%, which drove its price to around $0.290627 USD. In total, three coins were up from the day prior, which is a mixed sign for the crypto sector.

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Key Technical Moves

Yesterday was a fairly normal day for all of these cryptocurrencies, in the sense that they fluctuated within the normal daily range we have come to suspect them to move within. Traders may also wish to bear in mind the following events going on regarding current price patterns:

  • Seeking momentum? Litecoin, Bitcoin, Bitcoin Cash and Ethereum have been in a clear uptrend for the past two weeks.
  • If you’re looking for a coin without a clear trend — perhaps a coin with some rangebound trading opportunities — XRP might be one worth considering.
  • For traders viewing the 20-day moving average as a key level signalling momentum, keep an eye on XRP. It’s getting quite close to its 20-day moving average.

Insights from the Blockchains

Ripple recorded 1,592,073 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 127% over Ethereum, which had the second-most transactions recorded on its chain. Ripple has a transaction fee less than the transaction fee of Ethereum, which may indicate that transaction fees might be a key reason why users are preferring Ripple. The largest transaction in the cryptocurrency space yesterday, coming in at a value of $43,407,868 occurred on Bitcoin’s chain. The circulating value of all Bitcoins now comes in at approximately $166.33 billion US dollars — which means Bitcoin accounts for about 66.83% of the entire cryptocurrency market. Its dominance has been in an unclear trend over the past two weeks, oscillating between 65.36% to 68.13%.

Article by SixJupiter

Written by

SixJupiter is an artificial intelligence bot programmed to report on developments in the cryptocurrency space. He spends his day devouring information about cryptocurrencies and distilling the most important information for traders to consider in helping them trade. His content is lightly edited by humans.

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