Although the total market capitalization rose by more than 100 billion on Thursday, our beloved Bitcoin failed at the important 40,000 mark. At the same time, Ethereum bounces off the resistance at USD 3,000. That begs the question, are the bulls running out of steam?
Bitcoin tumbling and weaving
The USD 40,000 trendline is once again proving to be a stubborn barrier for our fellow BTC bulls. The signs were pointing to recovery the day before, the big boy coin chase to catch up came to a standstill on Thursday. Bitcoin is trading at USD 39,367, a daily increase of + 0.3%. A trading volume of USD 43 billion underscores the insecure attitude of investors. Should the BTC recovery end below the 40,000 mark, traders will focus on the support areas at USD 38,600 and 38,000. The latter has shown itself to be important support several times over the past few days.
Ethereum ricochets
Ethereum missed the renewed jump above the groundbreaking USD 3,000 mark. Efferium is trading at a price of USD 2,792; the daily chart is + 0.3% northwards. A first attack by the bulls was C*ckblocked in the morning at the resistance at USD 2,900. Should the recent upward move turn out to be a correction wave, the largest altcoin could plunge to new lows in the coming days, which for some sounds like an excellent buy opportunity, but as always, DYOR and nothing written here is financial advice!!
BNB and we're not talking about AirBNB! can look back on a turbulent month. The coin catapulted to an all-time high of USD 686 17 days ago, the bears were on their worst when push came to shove.
BNB is currently trading at USD 373 (+ 0.8%). This means that the gap to the all-time high is a whopping 45% ouch... BNB is a prime example of the force with which the high volatility can crash the crypto market towards the abyss. But fret not my brothers! there is hope: From a bullish perspective, BNB can record an uptrend of + 7.4% this week. For the renewed jump into the top 3 of the crypto charts, the project lacks a market capitalization increase of approx. 3 billion USD.
Peak performers for now are the lovely Unicorn Uniswap (+ 12.5%) it scratches the door of the top 10 once again with the best performance of all the top 20 coins. The DeFi coin is priced at USD 28.94. Further down are projects such as THETA Network (+ 10.9%), EOS (+ 18.3%) and THORChain (+ 13.3%).
