Crypto market sentiment shifting in favor of bulls

Here is what you need to know on Friday 18, September

BTC/USD is trading at $10,924 after a breakout above $11,000 and a slight rejection that should be considered healthy. 

ETH/USD seems to be on the verge of a breakout towards $400 as it approaches a critical resistance level but not many bears applying selling pressure.

XRP/USD had a slight breakout towards $0.26 but it’s currently only trading at $0.253, however, the daily downtrend could change soon as a long-term RSI trendline has been broken.

Chart of the day: ETH/USD daily chart

Market

Ethereum had a slight breakout above a triangle pattern on the daily chart, however, bulls need to see more continuation to fully confirm it. There is also some resistance at $390.7, but fundamental metrics show it’s not too strong. In fact, looking at the IOMAP chart, we can clearly see support levels being far stronger for ETH.

Industry

Major cryptocurrency exchange, Bitfinex has won additional time to present documents in the case filed last year that claims the platform hid the loss of funds. Joel M. Cohen, the New York state Judge stated that “The court doesn’t envision a long-term injunction,” and the preliminary injunction will expire in a few weeks.

The first platform that was granted the Mastercard principal membership is now releasing a new multi-currency card. Wirex will have full support from Mastercard for his 19 cryptos and fiat currencies. The official release date is not out yet, however, customers can expect a rewards program with up to 1.5% back in BTC.

Quote of the day

At their core, cryptocurrencies are built around the principle of a universal, inviolable ledger, one that is made fully public and is constantly being verified by these high-powered computers, each essentially acting independently of the others. 

– Paul Vigna