The crypto market extends its recoveries today as Ethereum surges to a weekly peak of about $2,100 and Bitcoin uptick to $35K.
After the Saturday decline to around $30,000, BTC bulls stormed the crypto market, pushing the leading coin to near $35,000. As a result, most altcoins traded in green once more, with Ethereum trading over $2,000 and Binance Coin at around $300.
BTC Uptick by $5K in 2 Days
The Bitcoin saw increased bearish sentiment as the crypto market welcomed the weekend, pushing the best cryptocurrency southwards. Within few hours, Bitcoin dropped by about $3,000 to trade above the $30,000 mark (on Bitstamp).
As investors were worried about the situation surrounding the market, the scenario reversed within no time. BTC bulls entered the market, resulting in a gradual rise.
The leading digital currency saw positive price changes earlier today, spiking from $32,400 to $35,350. However, the asset lost some dollars while publishing this content, but still near the $35,000 zone.
Technical indicators show that Bitcoin will have its first crucial resistance level at $35,700. Others that follow are $38K and $39K. However, if the asset reverses with southwards moves once more, the support levels will lie at $34K, $32K, and $31.5K.
Ethereum Reclaims $2000, BNB around $300
Over the last few days, alternative coins have been following Bitcoin’s moves. Ethereum has had a positive reaction after the Saturday $1,700 drop.
Yesterday, the leading altcoin spiked over $1,800 and extended its northward move to above $2,000. Keep in mind that the asset rallied to $2,075 (the highest value in the week) before a slight retrace.
Binance coin also fell victim to the recent crash but managed to bounce off, trading around $300 at the moment. Other assets that traded in the green territory according the 24-hour scale are ADA (4.5% up), DOGE (5.5% rise), XRP (4% surge), DOT (4% increase), BCH (4% up), and UNI (6.5% uptick).
Over the last day, ICP remains the highest gainer. The altcoin surged 45% to trade above $44. Celsius (16% pump), XDC (15% up), Siacoin (13% rise), THORchain (12% up), Fantom (12% up), Nexo (12% swell), Shiba Inu (11% uptick) and Compound (10% surge) follow suit.
The overall crypto market capitalization has increased by $100 billion in the last day to stand at $1.4 trillion.