The cryptocurrency market has shown resilience despite negative news, with Bitcoin remaining above $25,250. ARK Invest CEO Cathie Wood has been buying the dip in crypto-related stocks, purchasing $21 million worth of Coinbase stock and $19.9 million worth of Block Inc. shares. The top 10 cryptocurrencies are analyzed to determine if bulls can sustain the recovery or if higher levels will bring out the bears.
– Bitcoin turned down from moving averages but did not slump below $26,125, suggesting lower levels are attracting buyers.
– Ether is maintained above the resistance line of the falling wedge pattern, indicating demand at lower levels.
– XRP remains in an up move, with the bulls holding strong and buyers trying to thrust the price above the overhead zone between $0.56 and $0.58.