After almost hitting $ 19,000 for the second time, Bitcoin calmed down and fell back below $ 18,500 (as of this writing). At the same time, most of the alternative coins have doubled their recent earnings. Ripple’s weekly 60% spike helped the asset overcome Tether as the third largest cryptocurrency by market cap.
Bitcoin slows down after double-top at $ 19K
The latest impressive BTC price moves led to a noticeable increase yesterday and another new annual high. This time the asset has posted a price of nearly $ 19,000.
Although Bitcoin began to gradually return in the following hours, it made another attempt to overcome the coveted price point, but to no avail. The price had since retraced a few hundred dollars. Was this a double top bearish formation or just a pause before setting a new ATH for Bitcoin?
From a technical standpoint, the resistance lines stand at $ 18,800, $ 18,950, $ 19,400 and $ 19,660 (all-time high). On the other hand, the closest support lines are at $ 18,200 and $ 18,000 could stop Bitcoin if another correction occurs.
Ripple climbs to the top 3
The altcoin explosion that started recently has only intensified in the last 24 hours. Ethereum marked a new annual high of over $ 560, however, it has returned to the $ 540 price area (as of now). Just on November 20, ETH was trading below $ 470, a 20% increase in just two days.
Ripple (XRP) once again stole the show. XRP sat at $ 0.28 on November 19 but exploded to almost $ 0.50. Although XRP fell back to $ 0.44, its market cap surpassed that of Tether to take third place.
Bitcoin Cash and Cardano rose by a similar percentage of around 6.5%. As a result, BCH has approached $ 290, while ADA is above $ 0.13.
Binance Coin (3%), Chainlink (1.5%), Polkadot (1%) and Litecoin (0.5%) are also in the green.
Other gains are evident with Nano (20%), Aragon (19%), Status (17%), VeChain (11%) and Stellar (10%).
The red side thus far was the major DeFi-related tokens, which have retreated heavily. Yearn.Finance (YFI) saw its prices drop by 18%. Reserve rights (-12%), Aave (-12%), SushiSwap (-11%) and Quant (-10%) follow.
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