Monday, Sept. 2 — Markets are bouncing back and showing upward price movement, after trading sideways for the better part of the day.
Market visualization. Source: Coin360
The Bitcoin (BTC) price is showing impressive price movement, after trading close to $9,700 for most of the day. At press time the number one cryptocurrency is trading at $10,401, up 6.63% on the day.
Bitcoin 24-hour price chart. Source: Coin360
CryptoX reported earlier that Bitcoin is attempting to bounce from the trendline of the symmetrical triangle, and if the BTC/U.S. dollar pair picks up momentum above the moving averages and breaks out of the downtrend line, it can result in a retest of the yearly highs at $13,973.50.
The most popular altcoin Ether (ETH) is picking up momentum as well and is trading at $178.53, up more than 4.5% on the day.
Ether 24-hour price chart. Source: Coin360
Like most cryptocurrencies, Ripple’s XRP token has been trading steadily throughout the week, and is now showing a gain of just over 2%. At press time the coin is trading at $0.260.
XRP has been a major underperformer among major cryptocurrencies in 2019. One of the most likely reasons for the underperformance is the consistent selling of XRP tokens by its founders.
XRP 7-day price chart. Source: Coin360
Major losers and gainers among top-20 altcoins
Among the top-20 cryptocurrencies by market capitalization, Ethereum Classic (ETC) has seen impressive gains, up over 8% to trade at $6.72 at press time. Binance Coin (BNB) is the second-best performer in the top-20 altcoins, showing gains of more than 5.6% to trade at $22.90.
Both Bitcoin Cash (BCH) and Bitcoin SV (BSV) are showing gains of more than 4% and are trading at $295 and $135 respectively.
At press time, Litecoin (LTC) is showing the smallest gains on the day, up only 1.33%.
The overall cryptocurrency market capitalization is back over $265 billion, with BTC’s share accounting for 70.1% of the total.