Market Watch Déjà Vu: Bitcoin (BTC) Stopped at Key Resistance, Canton (CC) Surges Again
In what appears to be a painful loop for bitcoin, the asset attempted yet another surge to and past $90,000, where it was stopped only to drop toward $87,000.
Most altcoins are in a similar state, with ADA, XMR, MNT, and XLM deep in the red, while CC and ZEC continue their respective run.
BTC’s Loop Continues
The end of the year has been quite underwhelming for the primary cryptocurrency. The asset was halted at $94,000 at the start of the month, and each attempt to overcome that level was met with immediate resistance.
The subsequent rejections pushed it south to under $90,000, where it has struggled for weeks. Since December 15, it has attempted to break through that level on at least five occasions, with each failing in its tracks.
The latest such example took place yesterday. After a quiet weekend at around $87,000, bitcoin went on the offensive once again and jumped past $90,000. However, the bears were alert and rejected the asset’s attempt almost immediately, driving it below $87,000. It has since managed to reclaim that level and now sits below $88,000, but the $90,000 resistance just proves too strong at the moment.
Its market capitalization stands still at around $1.750 trillion, while its dominance over the altcoins on CG is above 57%.
BTCUSD Dec 30. Source: TradingView
CC, ZEC Keep Pumping
Ethereum went above $3,000 yesterday, but it faced the same fate as BTC and now sits at that key level below. BNB was stopped at $860, and XRP can’t get above $1.90. SOL, BCH, LINK, and DOGE are also slightly in the red daily.
Cardano’s decline is bigger, losing over 4% of value. MNT has dumped by over 5%, while XLM and XMR are down by 3-3.5%. In contrast, CC has surged again by 7% and now sits at $0.135. ZEC is also in the green, adding 3.4% of value to almost $540.
The total crypto market cap has remained relatively sluggish at $3.060 trillion on CG.
Cryptocurrency Market Overview Daily Dec 30. Source: QuantifyCrypto
The post Market Watch Déjà Vu: Bitcoin (BTC) Stopped at Key Resistance, Canton (CC) Surges Again appeared first on CryptoPotato.
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