Bitcoin consolidates on Sunday
A turbulent week draws to a close. On Sunday, Bitcoin manages the profits of the previous days. After bridging the 9000 USD border, the cops could keep the command. So the magic 10000 USD hurdle is within reach. Meanwhile, several Altcoins attract attention. Are these the first signs of an approaching Altcoin Season? We take a look at the current events in the crypto space.
Bitcoin is moving sideways
At the time of the article, the BTC is quoted at USD 9517, which represents a daily loss of 0.30%. A low 24-hour volume of just under USD 30 billion illustrates the wait-and-see attitude of investors. The bulls lack the momentum for an attack on the resistance at 9600 USD. Further up, the trend line at 9800 USD would be the last barrier before the magic 10000 USD barrier. On the downside, the area at 9400 USD currently serves as support.
10000 USD mark in focus
The trend line at USD 10000 has proved to be an almost insurmountable hurdle several times since the halving. In addition to the low trading volume, the previous ricochets suggest that the bears will soon take the helm. However, there is no guarantee for this. Sudden whale movements and unexpected news can quickly turn the highly volatile crypto space upside down. On Wednesday, this unpredictability flashed for a short time, when he shot over the important USD 9000 mark with a USD 400 candle.
Cardano delivers the best performance in the Top 30 with a price increase of a whopping 15.21% and positions itself at position 10 in the crypto charts. The trigger for the price explosion could be a new announcement on the long-awaited Shelley code. According to this, the Shelley phase is to begin on June 30, 2020 and will provide for more decentralization in the ecosystem. In addition to Cardano (ADA), coins such as VeChain (+ 15.01 %), Stellar (+ 8.23 %) and IOTA (+ 10.29 %) are shining on Sunday with respectable price gains.
Bitcoin continues to dominate
The above-mentioned price outbursts could give hope to Altcoin friends. Although there is no Altcoin season in sight for a BTC Dominance Index of 65%, independent price breakouts are becoming more frequent again. Highlights such as the Ethereum 2.0 launch could make for a hot crypto-summer. At the moment, the Smart Contract-Coin stands at a price of USD 235.53. After reaching its 30-day high, the 250 USD mark is the focus of traders. On the way there, the trend line at 246 USD forms the biggest resistance.