What Happened In The Cryptocurrency Markets Over The Weekend?
Cryptocurrency market capitalization has risen by $ 40 billion since Friday’s declines. Bitcoin is nearing$ 19,400 and the ETH price is nearing$ 600.
Bitcoin Remains Above $ 19,000
Bitcoin, which began to gain in value over the weekend, had fallen below$ 17,500 twice last week.
In the last 24 hours, the BTC price has risen to$ 19,400. However, the Bears quickly took control, with the BTC price dropping to an intraday low of$18,900. BTC, which then rose again, is currently trading at$ 19,130, according to CoinMarketCap data.
From a technical point of view, Bitcoin could rise to and above$ 20,000 levels if it can overcome initial resistance lines of$19,400 and$ 19,920. Alternatively, if Bitcoin reverses and goes into decline, the support levels that could help seem to be the$ 18,800,$ 18,500,$ 18,300 and psychological$ 18,000 levels.
Altcoins Continue To Rise
Altcoins were the hardest hit by last week’s decline. But the improvement over the last 24 hours and the weekend was just as effective.
The Ethereum price rose by 2% to trade close to$ 590. Ripple, on the other hand, continued its free fall after a snapshot of the Spark (FLR) AirDrop, which took place on Saturday, fell below$ 0.50.
Binance Coin posted slight gains of 0.5%, Polkadot 2% and Cardano 2%. However, Chainlink and Litecoin were the best performing cryptocurrencies in the top ten with increases of 3.4% and 4.7%. As a result, the price of LINK approached$ 13 levels, while the price of LTC rose above$80.
Among the top 100 cryptocurrencies, the most impressive price increase came from stellar. The price of the XLM rose to$ 0.174 after an 8% rise. However, Energy Web Token rose 6.5%, THETA 6%, Uniswap 5.5%, Aave 5.5% and THORChain 5%.