Ethereum’s surge propels Zcash, BitTorrent market momentum

The larger altcoin market noted a rising uptrend on 6 April, with the uptrend in question allowing many such alts to enjoy much-needed market momentum.

Ethereum [ETH]

Source: ETH/USD on Trading View

The second-largest coin in the crypto-market, Ethereum [ETH] has recorded 29.78% in returns since the beginning of 2020. The recent, unexpected push in the altcoin’s prices moved Ethereum’s value to $169.65, at press time. At the time of writing, it had its immediate resistance at $196.99, while its support was placed at $109.47.

According to the Awesome Oscillator, the trend appeared to be bullish, but will require more momentum to continue. Ethereum Futures was reflecting rising OI as well, with the coin’s value recording improvements.

Zcash [ZEC]

Source: ZEC/USD on Trading View

Zcash [ZEC] was placed 26th on CoinMarketCap’s charts. The coin also noted a spike in its price with a 24-hour recorded growth of 2.98%. At press time, ZEC was valued at $36.93, while its immediate resistance was marked at $40.455 and its support stood at $25.51.

According to the Parabolic SAR indicator, the coin began its journey on top of the bull as the dotted markers were aligned under the candlesticks.

Zcash was in the news recently after the Electric Coin Company announced the next major update for ZEC dubbed, “Heartwood,” an update that will aim to improve interoperability and allow miners to receive mining rewards as a shielded transaction.

BitTorrent [BTT]

Source: BTT/USD on Trading View

BitTorrent, the 76th ranked coin on CoinMarketCap with a market cap of $52.84 million, was valued at $0.00025, at the time of writing. The steady price rise in the token’s price had reduced the volatility in the market and as per the moving average, the market was in a bullish phase. This could indicate further growth in the price of the digital asset.

The resistance for the coin was marked at $0.00026, while the support was strong at $0.00018.