After almost touching $19,000 for the second time, Bitcoin has calmed and retraced below $18,500 (as of writing these lines). At the same time, most alternative coins have doubled-down on their recent gains. Ripple’s 60% weekly spike has helped the asset overcome Tether as the third-largest cryptocurrency by market cap.
Bitcoin Slows Down After Doule-Top At $19K
BTC’s latest impressive price developments led to a notable leg up yesterday and yet another fresh yearly high. This time, the asset charted a price tag of nearly $19,000.
Although Bitcoin began gradually retracing in the following hours, it made another attempt to overcome the coveted price level but to no avail. Since then, the price had retraced a few hundreds of dollars. Was it a bearish double-top formation, or just a break before setting a new ATH for Bitcoin?
From a technical point of view, resistance lines lie at $18,800, $18,950, $19,400, and $19,660 (all-time high). On the other hand, the closest support lines lie at $18,200, and $18,000 could stop Bitcoin if another correction arrives.
Ripple Soars To The Top 3
The altcoin explosion that began recently has only intensified in the past 24 hours. Ethereum marked a fresh yearly high of over $560, however, it retraced back to the $540 price area (as of now). Just on November 20th, ETH was trading below $470 – meaning a 20% increase in just two days.
Ripple (XRP) has stolen the show once again. XRP sat at $0.28 on November 19th but exploded to almost $0,50. Although XRP has retraced to $0,44, its market capitalization has exceeded that of Tether to occupy the third spot.
Bitcoin Cash and Cardano have surged by a similar percentage of about 6.5%. As a result, BCH has neared $290, while ADA is above $0.13.
Binance Coin (3%), Chainlink (1.5%), Polkadot (1%), and Litecoin (0.5%) are also in the green.
Further gains are evident from Nano (20%), Aragon (19%), Status (17%), VeChain (11%), and Stellar (10%).
The red side as of today was the leading DeFi-related tokens, which have retraced heavily. Yearn.Finance (YFI) saw an 18% price decline. Reserve Rights (-12%), Aave (-12%), SushiSwap (-11%), and Quant (-10%) follow.
This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.