While the bitcoin price was securely traded around $ 19,000, most altcoins made up for yesterday’s bearish losses. The total market value has increased from $ 550 billion to $ 570 billion since yesterday.
Bitcoin Over $ 19,000
After a highly volatile Bitcoin hitting successive all-time highs on some cryptocurrency exchanges, the asset calmed down and retraced just under $ 19,000. The inability to enter the uncharted territory has caused BTC to deal with this level for several days. Yesterday, however, Bitcoin started to move up after its last drop below $ 19,000.
Subsequently, the asset even reached $ 19,400, but withdrew and is currently trading at $ 19,200. From a technical point of view, BTC’s first major resistance lies at $ 19,700. If the leading coin overcomes this, the next resistance will be $ 19,921 followed by $ 20,350 and $ 20,970. On the other hand, the most important support levels are located at $ 18,900, $ 18,600 and $ 18,270.
We have seen that altcoins are dominated by high volatility recently. Tokens like Ethereum and Ripple have dropped drastically from their annual highs last week. In the following days, they started to recover gradually.
Most altcoins are green on the 24-hour scale. Ethereum returned to $ 600 after a 2% increase. Ripple is trading above $ 0.60 after a 4% gain. Chainlink and Polkadot saw increases of over $ 13 and $ 5, respectively. However, while Binance Coin is struggling for under $ 30, ADA is still south of $ 0.16.
Low and medium volume altcoins are showing an atypical stagnation, and there is a lack of double digit earnings among the coins. Yearn.Finance (YFI), Kusama and Reserve Rights are the most impressive earnings with 5% increments. This is followed by Nexo (4%), THORChain (4%) and Elrond (4%).
Overall, the cryptocurrency market cap has increased by $ 20 billion from yesterday’s decline from $ 550 billion to $ 570 billion.