The top cryptocurrencies traded in positive territory Wednesday, a continuation of a rally that began more than 24 hours ago. By quickly erasing Monday’s losses, cryptoassets are on track for further gains in the near term as the major altcoins move beyond bitcoin’s immediate sphere of influence.
Crypto Market Update
Nine of the top ten cryptocurrencies reported gains Wednesday, with Stellar (XLM) the only major asset on the opposite side of the ledger (XLM’s losses amounted to just 0.1%). Ethereum (ETH) rose 3.7% to $138.42. ETH faces strong resistance at $140.00, which is the peak from yesterday.
EOS (EOS) held onto most of its weekly gains and was last seen trading at $3.72. That represents a gain of 6.2%. The Enterprise Operating System has rebounded 16% from its swing low on Monday. The bulls face a major hurdle between $3.80-$4.60. Although this area attracted heavy buying in the past, the bulls weren’t so lucky last week as their rally fizzled from a high near $4.40 all the way back down to $3.50. Read more: EOS Price Behavior: EOS/USD Has a Big Stumbling Block in the Way of Greater Upside.
Litecoin (LTC) has booked solid gains in the last 24 hours, gaining 7.4% to $55.20. The LTC price has gained a whopping 75% since the start of February thanks to a big push by the open-source platform to boost adoption.
Bitcoin cash (BCH) climbed 1.5% to $132.57, where it continued to hold the support of a lower acting trendline. The no. 6 currency is protected from further selling pressure insofar as it continues to hold above $127.00. The price is currently testing immediate resistance.