Bitcoin dominance decreases 57.9
The alternative assets can capture important market shares on Sunday and record respectable profits. Is this the beginning of an Altcoin Season 2020? At the same time, the BTC bulls are overcoming an important resistance. Thus the 12000 USD mark is coming into sight. Let’s take a look at what’s happening in the crypto market.
Bitcoin price current
At the time of writing, the market leader is quoted at USD 11662, which represents a daily gain of 1.14%. Accordingly, the trend line at 11600 forms a new support line. Further up, the next resistances are at 11800 USD and 12000 USD. However, a new attack on the USD 12000 level could fail due to the low trading volume (approx. USD 18.7 billion). Again and again this limit turned out to be the temporary terminus for the No.1 crypto currency.
Ethereum + 5
Ethereum is back above the USD 400 mark. After a strong performance, the Smart Contract Coin also raises hopes among Altcoin friends. On Sunday the share price rose to a value of 424 USD after a plus of 5.31%. It is quite possible that ETH will raise the previous monthly high of 438 USD even further in the coming hours. After that the next resistances are at 450 USD and 464 USD.
Altcoin Season incoming?
Of course a new annual low of the BTC Dominance Index raises hopes for a highly volatile Altcoin rally. We should also bear in mind the speed at which Ethereum and Co. took over in January 2018. Price after the BTC climbed above the USD 20000 mark, countless Altcoins outbid each other with new all-time highs. “1 ETH = 1 Lambo” sayings reflected the hype and the mainstream pumped billions into the block chain world. Of course a lot has changed in the past years. The ICO business has flattened out and the first mover seems more stable than ever after the third BTC Halving Event. Nevertheless, the balance of power could suddenly spill over again.
The winners of the day
Litecoin celebrates the largest pump in the Top 10 with a share price increase of 6.84%, while further down on Saturday coins such as TRON (9.50%), yearn.finance (23.58%) and UMA (39.53%) attract attention. NXM enters the top 50 of the crypto charts with a pump of 51.87%. In general, it is a conciliatory week-end closing for the ALtcoins, who have suffered some losses in the past days.