The crypto market in the UK continues to gain bullish momentum after gaining some strength from last week’s great fall. The master coin — Bitcoin — is trading at $114 following a revival, and other major coins are also signaling some positive momentum. Among the top trending coins this week are Hedera (HBAR), Axelar (AXL), and Internet Computer (ICP). Take a look at how these three coins are currently performing in the market.
Hedera (HBAR)
Current price: $0.2088
Market cap: $8.84 billion
Hedera (HBAR), the native cryptocurrency of the Hedera Hashgraph network, currently shows a green signal with a 16.5% uptick in the past 24 hours. The coin has climbed to $0.22, at the time of reporting, from its past day’s $0.18 price range. In other words, HBAR has just crossed its short-term support at $0.21 in intraday trading. However, it is way too far away from the nearest resistance level, which is $0.29.
Reason for price hike: Hedera’s strong price surge is fueled by Canary Capital’s launch of the first US ETFs tracking HBAR on Nasdaq.
Axelar (AXL)
Current price: $0.18
Market cap: $196.85 million
Axelar (AXL) is trading by holding some red candles at the time of reporting. Its price is 4.73% down over the past day and has sharply declined from its recent highest price on October 10. From June to early October, AXL has formed a descending triangle, which followed a nosedive.
Axelar’s RSI stands at 35.75, indicating the coin is above the oversold range. The simple moving average reads 35.83, and if it touches below the 35.75 average, the coin would fall into over sold stage. This means there would be more people to buy the coin, which would ultimately lead to a price hike.
Internet Computer (ICP)
Current price: $3.17
Market cap: $1.71 billion
Internet Computer or ICP is a blockchain network that has the notion of: internet with cloud computing functionality. After the major crypto fall on October 10, ICP dipped to $3.17 (current price), which is nearly 28.94% down.
ICP is quite far from $4.43 resistance, and it should get back to at least $3.73 to cling to the resistance level. However, community sentiment towards the coin is 83% bullish and 17% bearish, meaning most people believe ICP’s price will rise.
Overall, HBAR, AXL, and ICP are showing some mixed reactions in the wake of the green crypto market. Community sentiment toward these three coins is more than 80% bullish. This means they could potentially go up in the coming days, as UK traders appear to be closely watching these coins as key movers in the market.
