From cryptocurrency market has now largely recovered from the dip that followed after several new all-time highs (ATHs). A number of major crypto prices started rising sharply last night and the total market cap is back at $3 trillion this morning. Still, it doesn’t look very stable yet, can the prices hold up here?
Bitcoin
Bitcoin (BTC) was able to end the week well. The price initially hovered between $64,000 and $65,000 yesterday, and by the evening, bitcoin dipped slightly, reaching as high as $63,700.
From there, bitcoin started to climb steadily, reaching back to $65,000 by midnight. Then bitcoin even broke out for a while and the price immediately shot up to $ 66,000. Bitcoin seemed to hold up here overnight, but this morning the price is starting to fall again.
If the price continues to follow roughly the same pattern as it did a few weeks ago, we may see another sharp dip this week, perhaps even back to $60,000. Still, the futures market already looks healthier and less overheated than last week.
As #Bitcoin consolidates above $60k, the Perpetual Swaps Funding Rates are considerably lower than the ones experienced during the first 4 months of 2021.
This is a sign of less speculation and deleveraged markets, leading to a stronger range consolidation for $ BTC. pic.twitter.com/GSS0oIRrbg
— IntoTheBlock (@intotheblock) November 14, 2021
It is of course also very possible that bitcoin will hold steady here and break through the resistance around USD 66,000. Then there may be some resistance around 67,000 and 68,000, but then even a new ATH and 70,000 could soon follow. At least there seems to be a lot of room in this one bull-run.
$98K Nov and $135K Dec prediction still in play pic.twitter.com/Df9CsxTdEj
— PlanB (@100trillionUSD) November 14, 2021
Altcoins top 10
Ethereum (ETH) follows bitcoin again. The ether price climbed to $4,650 yesterday, then fell back to $4,550 and then climbed with bitcoin. Ether briefly peaked at $4,735 last night. Ether also seems to be holding up for the time being and may break out further soon. However, ether looks a little less stable, but this price may still have a lot of room in this bull market.
Solana (SOL) appears to be back in the lead in the top 10. SOL largely followed the prices of the above two cryptos yesterday, climbing as high as $239 yesterday. The price dropped to $231 in the evening but then climbed to a high of $244. SOL also seems to hold up here and is therefore almost 3% in the plus today, the highest out of the top 10.
Altcoins top 100
Just outside the top 10 we see litecoin (LTC) tighten again. Contrary to the above three prices, LTC barely dipped last night but continued to rise. As a result, LTC is up 9% today and briefly peaked at $280 this morning. A remarkably hard riser today is tron (TRX). TRX is up 13% and is trading at USD 0.125 this morning, its highest since mid-May.
Spell token (SPELL) rises even harder, which is 21% in the plus and may have broken out again. SPELL broke up at the end of September, then soared hard and briefly burst into the top 100. Over the past few weeks, however, the price has corrected sharply downwards, but SPELL may have found a bottom. The fastest riser today is Crypto.com Coin (CRO), the exchange token of the eponymous exchange. The price has been rising sharply since Thursday and it has been getting faster and faster in recent hours. The price is no less than 25% in the plus and now comes with a new one all-time high (ATH) of $0.515 out.
Still, a handful of prices are turning quite red this morning and it is exactly the five crypto that rose the fastest last week. Kadena (KDA) is down 6%, barrel ring (LRC) and helium (HNT) are both down nearly 7% and iotex (IOTX) is even losing 11% of its value today. Nevertheless, IOTX and LRC are still both about 100% in the plus compared to a week ago.
–
