An overview of the cryptocurrency market Wednesday, March 3
Following a sharp drop that pushed the price of Bitcoin to $ 47,000, the currency traded back at $ 50,000. The Altcoins market is also mostly green today.
Bitcoin crossed the $ 50,000 resistance
After a sharp drop last week that brought Bitcoin below $ 43,000, the currency is slowly showing positive reactions as a new path opens up for the cows.
As reported yesterday, Bitcoin even broke the $ 50,000 level for a short time but could not maintain its momentum. The rejection of the price caused the currency to fall again and fall to the level of $ 47,000 (in Bitstamp).
Since then, Bitcoin has returned to this level once again, rising by about $ 3,000 to about $ 50,000. At the time of writing, Bitcoin is trading at $ 51477.
Technical indicators of the currency show that this particular price level is the first major resistance line in the uptrend of Bitcoin, so that BTC can cross the resistance levels of $ 52,500 and $ 55,000 after crossing this level.
If the price is rejected again, the support levels of $ 47,200, $ 46,600 and $ 44,750 can help.
Atrium reached $ 1,600
Most altcoins also saw unfavorable price movements last week, but were revisited in the last few days. Atrium, which has fallen to $ 1,300, has jumped nearly $ 300 since then and is now close to $ 1,600.
Cardano's 2% increase helped ADA remain third in the market value of digital assets. BinanceQueen (1%) and Ripple (2.5%) are also green in 24-hour timeframes. China Link has increased its value by 6% since yesterday and is currently priced above $ 30. The Polkadat also jumped 6.5 percent to trade at $ 38.
Nevertheless, Light Coin showed the most significant growth among the top ten currencies with a 12% increase. As a result, LTC is approaching the $ 200 mark.
Among the low and medium market value altcoins, the Energy Web Token had the best performance with 32% growth and reaching the $ 18 level. Ocean Protocol (22%), NEM (19%), Basic Attention Token (19%), Enjin Coin (18%), Phantom (13%), Decentraland (12%) and Ontology (11%) are next. they take.
Finally, the total cryptocurrency market capitalization remains above $ 1.5 trillion.