Whilst this seems to be a reoccurring trend, it at least provides a brief talking point and a brief respite from the over-arching negativity hindering the cryptocurrency markets of late. This afternoon, the markets have made some positive upwards movements, guiding a number of currencies back up towards figures that are providing a less startling outlook.
Whilst it is most probably down to correction, as we say again and again, this is all positive news. Damage control can be the defining difference that means some currencies don’t reach critical support levels. By moving upwards, even slightly over the afternoon, the markets can be sure that future downturns provide to be as limited as possible, in terms of how much damage they exert.
Overall, the outlook is of course still very bland. There’s a chance that this new upswing could lead to something far bigger, although at present, this seems unlikely.
Let’s see what the score is thus far.
At the time of writing, Bitcoin is valued at $7,432.28, up 2.31%. Finally, Bitcoin is moving back towards $8,000.00 and has shown strength in the low region nearing $7,000.00. But not breaching past this point, Bitcoin has ensured that it will remain on track back to $8,000.00, missing any potential resistance that may have been experienced at $7,000.00.
At the time of writing, Bitcoin Cash is valued at $985.59, up 5.57%. Bitcoin Cash is now making good tracks back up to $1,000.00, a critical point in the progression of Bitcoin Cash. The closer Bitcoin Cash moves to this threshold, the further it will jump during any future bull runs or surges that Bitcoin Cash is able to take advantage of.
Moreover, Litecoin, is seeing some great movements at the time of writing too, valued at $121.03, up 5.83%, we are seeing Litecoin make good tracks in between $100.00 and $200.00, a very positive region for Litecoin given the current climate.
Finally, at the time of writing, Cardano still shines as the one to watch this week, valued at $0.199, up 9.29%. Cardano is currently relishing in the glory of a new TestNet launch, a launch that see’s Cardano’s technology given a new lease of life. We are going to watch Cardano over the next few days, if it continues to climb, we could see it reach some very attractive values indeed.
As I have mentioned, this positivity may be short lived. Even so, the markets are now moving upwards, this is something we can all be positive about. Let’s hope this positivity continues and at least lets us relish some value, before the bear market does the inevitable and takes back control once again.