Bitcoin (BTC) is still struggling with the resistance at USD 58,000 while a number of altcoins can rise nicely. As a result, bitcoin dominance continues to decline and is approaching 40%. In addition, we see just outside the top 10 an altcoin is more than 20% in the plus!
Bitcoin (BTC) continues to ping ping back and forth
For a number of days, the bitcoin price has been bouncing between the $ 57,000 and $ 59,500 range. That didn’t change much today with another rejection at this resistance zone and a bounce at support. However, the past 4 hours can be seen that some volume is starting to come in again.
This volume came about after BTC found support at the 50- and 200-Moving Average (MA) on the 4-hour chart. This is also the price area where the 50-day MA is located and is thus an important support zone to keep an eye on. For the time being, the situation of bitcoin remains unchanged.
Dogecoin (DOGE) and ethereum (ETH) continue to perform well
Despite the fact that dogecoin (DOGE) is a so-called meme coin, and therefore heavily dependent on hype, the altcoin is still reasonably holding up. At the time of writing, DOGE is up 3.7% and is back above $ 0.50. Today’s positive momentum probably comes from good news.
SpaceX, the space company of Elon Musk, is going to launch a mission called “DOGE-1 Mission to the Moon.” The mission was paid for with dogecoin! This makes it the “very first commercial lunar mission in history fully paid for with DOGE.” You can read more about this news in this article!
Another altcoin that is doing well today is ethereum (ETH). The largest altcoin in the market appears to be able to consolidate above USD 4,000 and hit a new all-time high (ATH) just minutes ago. Ethereum’s price record now stands at $ 4,193.
The biggest riser within the top 20 in the past 24 hours was another dog-related altcoin, but it wasn’t DOGE. Shiba Inu (SHIB) is almost 80% in the plus in 19th place. In the past 7 days, the relatively new altcoin is almost 1,600% in the plus.