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Market Watch: Bitcoin Eyes $19,400 After Market Cap Gained $40 Billion The Past Weekend

After reclaiming the $19,000 bitcoin’s chances to break above $19,400 seem more likely. Most altcoins have slightly increased their value in a day, with Ethereum closing down to $600.

Bitcoin Stays Above $19K

Following last week’s roller-coaster that resulted in bitcoin dipping to $17,500 on two occasions, the primary cryptocurrency started to gain value during the weekend.

CryptoPotato reported that the asset firstly overcame $18,000 before doing the same with the $19,000 level. In the past 24 hours, BTC initiated another leg up and touched $19,400.

However, the bears quickly took charge and drove it south to an intraday bottom of $18,900. Nevertheless, bitcoin bounced off the low and reclaimed $19,000 once more where it’s currently situated.

From a technical perspective, BTC could reach uncharted territory above $20,000 if it overcomes the first resistance lines at $19,400 and $19,920.

Alternatively, the support levels that could assist if bitcoin reverses are $18,800, $18,500, $18,300, and the psychological $18,000.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins Continue North

The alternative coins suffered the most during last week’s price dumps. However, they have been equally impressive in recovering during the weekend and have continued to do so in the past 24 hours.

Ethereum has added another 2% of value and trades close to $590. Ripple has continued its free falls following the snapshot on Saturday for the Spark (FLR) airdrop and has dipped beneath $0.50.

Binance Coin (0.5%), Polkadot (2%), and Cardano (2%) have also marked slight gains. Chainlink and Litecoin are the best performers from the top ten, with increases of 3.4% and 4.7%. As a result, LINK has neared $13, while LTC trades above $80.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Stellar is the most impressive gainer from the top 100 coins. XLM’s price has expanded to $0.174 after an 8% increase. Energy Web Token (6.5%), THETA (6%), Uniswap (5.5%), Aave (5.5%), and THORChain (5%) follow.

Overall, the crypto market cap has expanded by $40 billion since the dips on Friday.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


About The Author

Jordan Lyanchev

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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