Yesterday, we saw a major downside correction in bitcoin and most major altcoins, including ethereum, ripple, bitcoin cash, EOS, litecoin, binance coin and tron. BTC/USD declined below USD 7,700 and later found a strong buying interest near the USD 7,500 level. As a result, the price bounced back above USD 7,800 and is currently facing crucial resistances near USD 7,950 and USD 8,000. Similarly, there was a strong recovery in ethereum and ripple. ETH/USD is up around 6% and it is currently (08:10 UTC) facing a resistance near USD 250. XRP/USD recovered from USD 0.362, but there are many hurdles for the bulls near USD 0.390, USD 0.392 and USD 0.400.
The total market capitalization is up by 6% in the past 24 hours.
THerefore I think it is a good position to take long. As the coins break through their limit zones, they will keep rising in my opinion. Good try opportunity!
