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- 🚀 Gate.io #Launchpad# Initial Offering: #PFVS#
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Major tokens such as XRP and Bitcoin show signs of a return to a bullish market | CoinDesk JAPAN
According to the latest data, at least 6 of the top 10 cryptocurrencies by market capitalization, excluding stablecoins, are currently trading above the 200-day Simple Moving Average (SMA).
The 200-day SMA is widely recognized as a long-term trend barometer by many traders, including those from the cryptocurrency exchange Coinbase. If the movement continues to exceed the average, it is considered bullish momentum.
According to TradingView data, at the time of writing this article, XRP, Bitcoin, Binance Coin (BNB), Cardano (ADA), Tron (TRX), and SUI are all significantly above their respective 200-day SMAs, indicating a bullish market. On the other hand, Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Chainlink (LINK) remain below the 200-day SMA.
As of the end of April, only XRP, Bitcoin, and TRX were trading above the 200-day SMA, whereas four weeks ago, it was only XRP and TRX, indicating an improvement.
This data indicates that the bullish market is rapidly expanding beyond some cryptocurrencies, suggesting an increase in investor confidence.
| Translation & Editing: Rina Hayashi | Image: ArtTower/Pixabay |Original: XRP, BTC Among Major Tokens Flashing Signs of Bulls Returning to Crypto
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