Bitcoin Consolidates Before Next Move: Augur Leading DeFi With 20% Surge (Market Watch)
Bitcoin’s highly-volatile days continued with wild moves of almost $1,000 that took it from $23,300 to $22,400 and vice versa. Most large-cap altcoins have remained relatively calm, with Ethereum trading mostly around $650. Binance Coin, though, has increased by 5% and finally trading above $30.
Bitcoin’s Price Sideways Action
As reported recently, bitcoin initiated a massive bull-run following consolidation around $19,000 for a few days that resulted in breaking into uncharted territory above $20,000.
The primary cryptocurrency doubled-down on its bullish week and continued towards a new all-time high of nearly $24,000 on Thursday.
The high fluctuations continued in the past 24 hours as well. BTC traded around $23,300 before the bears took control and drove it down to an intraday low of beneath $22,400.
However, bitcoin refused to stay there and recovered all losses in the following hours. Nevertheless, the asset has slumped slightly since then and currently trades below $23,000.
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From a technical perspective, BTC’s next resistance lines are situated at round psychological levels – $23,000, $24,000, and $25,000. In contrast, the support lines at $22,250, $21,400, and $20,700 could assist in case of a price breakdown.
The alternative coins followed bitcoin’s impressive run during the week and some marked yearly records. Ethereum charted $675, and despite retracing slightly, trading safely above $650.
Ripple has dipped below $0.60 after a 3% decrease in the past 24 hours. Bitcoin Cash, Chainlink, and Cardano have remained essentially stagnant since yesterday. Litecoin pumped to a YTD record of $112 before losing some steam to $107.
Binance Coin has gained the most from the top ten with a 5% surge. As a result, BNB has jumped to $32.
The first ERC-20 prediction platform is up 20% over the past 24 hours, followed by a huge amount of volume – $200 million according to CoinMarketCap. Earlier today, Augur reached over $26, which represented a surge of over 60%.
NEM is the most impressive gainer on a 24-hour scale. XEM has added another 13% of value and trades above $0.30. The asset has increased by more than 30% in a week.