The cryptocurrency market gains $50 billion, here are the coins leading the charge
June 3rd was a great day for most cryptocurrency investors as the charts turned green. Most coins started recovering from the recent lows. For instance, EOS gained by 17%. Additionally, the cryptocurrency market gained $50 billion, a total increase of 17%. As such, below are the main coins leading the charge.
After the release of the open-source blockchain protocol EOSIO, EOS experienced gains of about 17% in the last 24 hours. Through a blog post published on June 2, the platform announced that the development is designed to build applications at both the enterprise and community-driven levels. However, the firm did not give a guarantee that the software will work as intended and added that developers should implement the EOSIO at their own risk.
Also, bitcoin cash (BCH) moved back to the positive zone and $1,000 with bullish signs against the US dollar. This upside breakout was a move above a crucial bearish trend line with resistance near $980 on the daily chart. Currently, the coin’s price is above the $1,040 level and the 100 simple moving average. Moreover, the 50% Fib retracement level of the last decline from the $1,323 swing high to $871 low at $1,096 is acting as a resistance. A break above the current level is needed so that the coin’s price can experience more gains towards $1,200.
Being one of the coins leading the charge, IOTA extended gains and has been trading higher highs and higher lows since 28th may. However, it sustained a brief downside movement after meeting a selling pressure slightly below $1.90. The coin gained about 23% and there is more potential for better gains in the coming week.
Do you think the above coins will sustain these gains?