In the first half of this week, the cryptocurrency market was hit hard. Many prizes lost more than 15% to 20% of their value. Added to this was a falling stock market, a debt crisis at Evergrande and more pressure from regulators.
In recent days, most crypto exchanges have recovered well, and prices have been boosted by last night’s Twitter news about Bitcoin (BTC) payments and non-fungible tokens (NFTs). Click here to learn more!
This brought the total market capitalization back to $2.1 trillion, but this morning prices fell slightly. Nevertheless, the fears of the markets seem to be slowly disappearing:
Bitcoin (BTC) reached $44,000 again yesterday, which has been a crucial point more often in recent months. However, support seemed to break briefly in the afternoon as Bitcoin fell back towards $43,000. Then the above news came out and the BTC price immediately made a big jump to $45,000.
Bitcoin initially seemed to be able to stick to it, briefly peaking at $45,175, but then corrected downwards overnight. Bitcoin fell back to $44,000, but recovered from there. At the time of writing this article, Bitcoin seems to be breaking the $45,000 mark right now, but resistance is probably not far away.
The question is whether bitcoin can recapture the 200-day moving average around $46,000 this weekend, or whether we will experience a period of consolidation before it erupts.
Ethereum (ETH) has fluctuated a bit more in the last 24 hours. The ether price reached $3,150 yesterday morning, then fell to $3,050 and then rose to almost $3,200. Ether appeared to hold above $3,150 but fell back to $3,050 this morning. At the time of writing this article, it looks like Ether is reclaiming the $3,100 mark, but is already encountering resistance.
Cardano (ADA) is also fluctuating. The ADA price initially fell back to $2.20, then recovered to $2.25 and suddenly made a big jump to $2.35 shortly after midnight. After that, however, ADA corrected to $2.25, but immediately recovered and is currently rising above $2.30.
Solana (SOL) has had a bit harder in the last 24 hours. Yesterday morning, it looked like SOL would reclaim the $150 mark, but then fell to $143. After that, the price made another attempt to move upwards and briefly reached the $150 mark, but then dropped to $140. SOL is currently encountering resistance around $145, down 3.5%, the lowest value among the top 10.
In the top 100, a number of crypto stocks are green. Terra (LUNA) already made a big leap yesterday afternoon and this morning. LUNA is now up 12% and has reached $38.5. The Harmony share (ONE) was also able to hold its own after its price increase yesterday afternoon with a price increase of 12% to $ 0.155.
This also applies to Tezos (XTZ), which made a big jump yesterday afternoon and then remained quite stable. XTZ is up 13% to close at $6.55. We see the same with the Near (NEAR), which is up 13% and is currently hovering around $9.
Sarah has been working in the field of crypto news for several years. She writes as a freelance author for various trade magazines on blockchain, bitcoin and altcoins. She also has a professional background in finance with a focus on investment and new forms of financing.