Larger token’s flashing signs of bulls returning to crypto

Bulls are back and it’s not just for Bitcoin BTC$102,988.63.

The latest data reveals that at least six of the other top 10 symbols by market value, excluding stableecoins, now act over their 200-day simple movement average (SMA).

The 200-day SMA is largely seen by many, including coinbase, as a barometer of long-term trends. A sustained feature above average is considered bullish momentum.

From writing, XRP, BTC, BNB, ADA, TRX, SUI, traded comfortably over their respective 200-day SMAs, signaling a bull market. Meanwhile, ETH, Sun, Doge and Link remained below average, data from the TradingView Show.

It is an improvement from the end of April, when only XRP, BTC and TRX traded over their 200-day SMAs and four weeks ago when only XRP and TRX were held above average.

The data indicates that the bull market is quickly expanding beyond a selected few coins to signal growing investor confidence.

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