After a rough week for crypto traders, Bitcoin is now leading a broad crypto market rally.
The king of crypto is up 13.07% at $8,417 according to COIN360.
Ethereum is up 11.19% at $180.26, XRP is up 8.21% at $0.2993, Bitcoin Cash is up 19.35% at $257.69 and Litecoin is up 14.22% at $56.91.
Technical analyst Josh Rager says the sudden pump is a great start, but BTC needs to now close above $8,374 to maintain its momentum.
“Bullish candle that woke the market. [I was hedged] short myself 1x. Got stopped out and still up in BTC.
Late shorts got punished and literally knocked out all stops A great start but still want to see price break/close above previous resistance $8,374+.”
Meanwhile, a crypto analyst known in the industry as Paddy Stash tells his 13,000 followers that he thinks a new altcoin season is slowly starting to pick up steam.
His top picks for a renewed altcoin rally are Ethereum and XRP.
“Since about the beginning of September, all the major alts have been moving higher against Bitcoin.
Altcoin dominance is now on its 7th Consecutive GREEN week.
The locomotive is starting slow, but there is no denying its beginning. Here are some of the top alts to show you.”
Bitcoin dominance currently stands at 66.1% with Ethereum at 8.51%. XRP dominance ranks third at 5.65%, according to data compiled by CoinMarketCap.