Bitcoin makes another run at $ 50,000 after encountering resistance at that level early Sunday while avalanche is now a top 20 crypto and Cardano has reached another all-time high.
BTC faces resistance at $ 53,500, but if it manages to break above it, the next upward target would be between $ 59,000 and $ 61,000, says City Index analyst Tony Sycamore.
At 11:35 a.m. AEST, the original cryptocurrency traded at $ 49,893, up 1.6 percent from 24 hours ago and the highest since May 11, just before Elon Musk shocked the market when Tesla rejected Bitcoin.
ether changed hands at $ 3,271, up 0.6 percent from yesterday. Sycamore said Ether was unable to break its recent range of $ 2,900 to $ 3,350.
“The preference remains to buy a corrective pullback or consider a sustained breakout of the upper range,” Sycamore wrote.
Caroline Bowler, the executive director of BTC Markets, told Übiz TV this morning that the Melbourne-based crypto exchange has seen the gradual return of private investors to the crypto market.
“After a quiet July, we are now seeing a busier August,” she said. “We’re seeing these guys come back on the market.”
Only 19 of the top 100 cryptos were down compared to 24 hours ago, with Near protocol worst loser, down 7.4 percent to $ 5.75. That’s still a 78 percent increase over the past seven days.
Transfer protocol telecommunications was the biggest winner, up 33 percent, followed by avalanche, which rose nearly 20 percent to $ 51.34 following the announcement of its $ 180 million DeFi incentive program on Friday.
AVAX is now one of the top 20 cryptos with a market cap of $ 8.9 billion, up from the No. 38 crypto with a market cap of $ 5 billion on Jan. Polygon (MATIC) which is now the No. 17 coin).
#Avalanche has just entered the top 20 for the first time!
Massive respect to Emin Gün Sirer and everyone at Ava Labs who contributed to this amazing result – you are the dream team of the crypto room.
The best part is that what we’ve seen so far was just a warm up for the real show! pic.twitter.com/CVtR1sXqC5
– Moj Dedko 🔺️ @MojDedko August 23, 2021
$ AVAX moves in $ MATIC
(with better bridges and memes) pic.twitter.com/n1ARvP1LWP
– Albert Nazarov (@linkchainlink) August 21, 2021
Cardano had hit another all-time high of $ 2.84 prior to launching its smart contracts next month. It rose 11.4 percent to $ 2.80 at lunchtime (Sydney time).
Joining ADA was in the all-time high club coffee and Coin98 as well as Solana, Axie infinity, XDC network, Eternal protocol and helium over the weekend.
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