Bulls back, and not just for bitcoin Btc$103,037.97.
The latest data shows that at least six of the other top 10 tokens according to market value, excluding Stablecoins, now trading above their 200-day simple moving average (SMA).
The 200-day SMA is widely seen by many, including Coinbaseas the barometer of long -term trends. A prolonged move above average is considered bullish momentum.
As of writing, the XRP, BTC, BNB, ADA, TRX, SUI, have been exchanged comfortably than their 200-day SMA, which signed a bull market. Meanwhile, ETH, Sol, Doge and Link remained below the average, data from the tradingview show.
That’s an improvement from the end of April, if only XRP, BTC and TRX were exchanged above their 200-day SMA, and four weeks ago, if only XRP and TRX were held above the average.
The data indicates the bull market is rapidly expanding beyond a select few coins to signal the growing confidence of the investor.
