After the huge crash of last week and last weekend, the recovery in prices is still going strong for the time being. The total market cap of all cryptocurrencies has just risen past $ 1.8 trillion while it was still at $ 1.3 trillion last Sunday. Still, that’s well below $ 2.6 billion from two weeks ago.
Bitcoin (BTC) initially dropped below $ 37,000 yesterday, but then managed to hold its own around this range. During the evening price held at $ 38,000 and last night the price jumped and managed to remain stable above $ 39,000.
This morning the price made another good jump, finally breaking through $ 40,000 again and immediately topping out at $ 40,800. From this point it gets difficult. It now looks like it may be looking to bottom around $ 40,000, but with low trading volume, it is very possible that bitcoin will drop back by $ 40,000.
The price could then fall back to the important support around that $ 37,000- $ 38,000. For now, bitcoin is holding above USD 40,000, which also allows for a breakout towards USD 42,000. Although Bitcoin is recovering nicely, many altcoins are growing faster and bitcoin dominance is dropping below 42% again today.
Ethereum (ETH), Cardano (ADA) and more
Ethereum (ETH) also initially declined further yesterday, only to find a bottom around $ 2,420. After that, the price made a few big jumps and broke through again this morning at $ 2,900 after a growth of almost 20%. For now there seems to be too much resistance there and the trading volume is declining. Should Ethereum hold up around $ 2,900, a breakthrough of $ 3,000 may be in the offing today.
Cardano (ADA) made another impressive move up last night. The ADA price rose 24% from $ 1.45 to $ 1.80 and it looks like this increase may continue for some time to come.
Dogecoin (DOGE) is lagging a bit behind today. The DOGE price also recovered slightly last night, but where most of the prices in the top 100 today are green, the DOGE price is still in the red for the time being. The price just dropped below $ 0.36 and trading volume is declining, but in this green-colored market there is a good chance that DOGE will continue to rise as well.
Among the fastest rising prices, we see several popular crypto today. Solana (SOL), VeChain (VET), Sushi (SUSHI), OMG Network (OMG) and Chainlink (LINK) are all up 20% from 24 hours ago. Terra (LUNA) is even 26% in the green and Telcoin (TEL) 28%. We also see Polygon (MATIC) rising sharply again and is almost 30% in the plus.
The fastest climber today is Holo (HOT). The HOT rate has been making big leaps since Sunday and today is more than 40% in the plus again. Holo just hit a price of $ 0.011, which is still 65% below its all-time high (ATH) of $ 0.031 in early April.