Saturday, October 16, 2021

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The astronomical rally in Ether (ETH) is just not exhibiting any indicators of slowing down. The bulls simply cleared the overhead hurdle at $4,000 right now, which additionally pushed the most important altcoin’s market dominance to over 19%. 

It’s not solely Ether that’s witnessing sharp shopping for from merchants. Litecoin (LTC) and Cardano (ADA) have additionally risen new all-time highs, suggesting a broad-based altcoin rally.

Nevertheless, Bitcoin (BTC) appears to have misplaced its momentum because it continues to battle close to the $60,000 mark. That has pulled its market dominance to under 44% for the primary time since July 2018.

Every day cryptocurrency market efficiency. Supply: Coin360

Nevertheless, the latest underperformance of Bitcoin has not shaken the long-term bulls. Morgan Creek Capital Administration founder and CEO Mark Yusko not too long ago mentioned in an interview with CNBC that Bitcoin will rival the “financial worth” of gold.

“If gold’s financial worth is $4 trillion, then digital gold ought to transfer as much as that complete,” Yusko added. Meaning Bitcoin should rise to $235,000 sooner or later to satisfy Yusko’s prediction.

Let’s analyze the charts of the top-10 cryptocurrencies to identify the important help and resistance ranges.