The cryptocurrency markets have enjoyed a day of significant bullish action, with only four of the top 80 crypto assets by capitalization posting a 24-hour loss as of this writing. ETH was the strongest performing leading market, comprising the only cryptocurrency in the top 25 by market cap to post a double-digit gain for the day.
Also Read: Regulators Explain Why Bitcoin Futures Are Easier to Approve Than Bitcoin ETFs
BCH and BTC Hold Above 2018 Lows
After six weeks of sideways consolidation, many leading cryptocurrencies are testing local resistance areas after avoiding a retest of December’s lows.
When measuring from December’s low to the peak of the immediately ensuing bounce play, bitcoin cash is currently testing resistance at the 0.618% Fibonacci retracement area (approximately $130) after…