Cryptocurrency Rating: Who Became The Best Performer Last Week?
Coronavirus has become a global issue. Despite the measures taken, last week the number of infected increased exponentially. In some countries in Europe and the United States, the number of victims of Coronavirus exceeded the number of victims in China. The world has already felt the negative economic consequences that provoked COVID-19.
In particular, the United States has taken unprecedented measures aimed at stimulating the economy. Last week, the government announced the allocation of 2.2 trillion dollars to support individuals and legal entities in the face of a falling economy.
Analysts believe that these measures may become a lifeline for a pandemic, but in the future, these steps will respond with negative consequences and a financial crisis. Now there are prerequisites for investors to turn their eyes to cryptocurrency, since it is independent of government actions.
Traders predict that the price of Bitcoin at the end of 2020 will be $22,866. Also, many of them believe that in 2020 altcoin will also break out in the lead.
Also among the obvious signs of the Bitcoin Bull Run is an increase in the number of e-wallets for accumulating bitcoins up to 800,000. Thus, many investors used the recent depreciation of Bitcoin to purchase and accumulate digital currency. Let’s look at how the best crypto executors reacted to market changes last week.
CRO/USD
Crypto.com Coin (CRO) has become the market cap leader in the past 7 days. This platform has announced the provision of a profitable package of services for Bitcoin Cash (BCH). Now deposits can bring investors a return of 4%.
Now the CRO / USD pair has rebounded from a minimum of $0, 0245, but could not rise above the level of $ 0, 049. Trading is carried out at higher levels, which indicates the strengthening of the pair’s position due to bullish momentum. Analysts predict that the trading range of the pair this week will be 0.050 and 0, 0245 dollars.
XMR/USD
Monero’s increased (XMR) was around 13%. This movement has become the culmination and speaks of the fact that it is trying to strengthen its position in the ranking of the most profitable cryptocurrencies.
Although the pair XMR/USD fell below $38.83, it quickly reacted and rebounded from the lows from the level of 25.3118 dollars. This suggests that traders are interested in buying cryptocurrency at low levels.
An XMR/USD rally was also recorded: the price broke above $44.50. If the pair holds these positions, we can observe further price increase above the first resistance level.
XRP/USD
XRP increased last week was 12%. During this time, XRP was involved in fraudulent activities by third parties. In particular, information was received about the possible theft of about 1.4 million XRP scammers.
The pair XRP/USD overcame the lower resistance level and is at the level of $0.17468. There are suggestions that the bulls will be able to lower the pair again below $0.1140, which will negatively affect the market capitalization of digital currency in the future.
ADA/USD
The Cardano Rally (ADA) of 4% allowed him to take 4th position in the ranking of the best crypto artists. Cardano has ambitious ambitions for the future. This is evidenced by the launch of the Ouroboros Hydra protocol, with which you can conduct up to a million transactions per second.
This week the ADA / USD pair broke below the price of its trading range and reached a record level of $0.0176366. But the pair quickly rebounded from the indicated minimum, which indicates its high viability. Analysts predict that the pair could break above $0.030 and rise to $0.065.
XLM/USD
Over the past 7 days, Stellar Lumens (XLM) has increased by 3%. Now the pair XLM / USD is on a downtrend at the level of $0.026063. If the bearish decline continues in the future, the pair may fall below this level. This will negatively affect its market condition. If the pair can break above $0.042133, this will indicate an increase in bullish impulses.
Binaryx is a superfast, reliable and easy-to-use crypto trading platform. Sign up today to get started http://binaryx.com
