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The main news of the cryptocurrency market over the past week, the top growth and fall leaders, as well as an overview of changes in the value of BTC and ETH in today’s market analysis.
The cryptocurrency market is up more than 1.5% on the first Monday after Christmas. While most major coins and tokens posted modest gains on Monday, ADA and DOT rallied 7.4% and 8.2%, respectively, and the Uniswap Protocol Control Token (UNI) rallied 12.1%. However, Tuesday morning met traders with significant drops in the price levels of cryptocurrencies:
Cryptocurrency market changes over the last day.
How these and other events affected the value of cryptoassets – in the weekly review.
TOP of the most profitable and lost altcoins in price: YEE – absolute leadership
● YEE/USDT: +22.23%;
● IMX/USDT: +21.28%;
● OCT / USDT: + 19.08%;
● MXC / USDT: -14.84%;
● TONCOIN / USDT: -11.78%;
● BICO / USDT: -10.04%.
The leader of the top most profitable altcoins this week topped the crypto asset of the YEE (YEE) project with a growth of 22.23%. The daily trading volume of this asset averages $ 1.23 million.
YEE is the leader of the TOP most profitable altcoins of the week.
A source: OKEx
YEE (YEE) is a blockchain and cloud-based ecosystem. Ultimately, the project will support fast transactions and efficient storage through the YeeChain product, a YeeChain YeeNet-powered cloud communications network, YeeCall, YeeWallet and DApp applications, as well as the YeeStore content management platform and the YEE ecological system.
BTC technical analysis: exit from the descending channel
BTC / USDT daily chart: local uptrend.
A source: OKEx, TradingView
As suggested in the previous cryptocurrency market overview, BTC was in a downward channel, remaining at $ 47,000, which coincided with the lower bounds of the 200-day moving average (MA).
At the moment, 200MA acts as a support line, from which the asset price began its rebound, which was confirmed by three bars in the uptrend that formed on Monday. Now the value of the largest cryptocurrency is testing the resistance level (marked in purple on the chart) and is trying to break through to the 50MA. However, there is still no certainty in the market sentiment, since a negative scenario of a decline to $ 30,000 is still possible given the prevalence of bearish forces in the market.
The further development of the situation will become clear in the near future, as soon as the New Year celebrations in the CIS are over. Sharp price changes are expected. It is worth paying close attention to the Stop-Loss setting.
ETH technical analysis: bullish flag
ETH / USDT daily chart: likely continuation of the uptrend.
A source: OKEx, TradingView
The price level of ETH is still at around $ 4000, there is a confrontation between the forces of “bulls” and “bears”. It is worth noting that the price has nevertheless broken through an important level, which was mentioned in the previous review, the bulls are not ready to give up their positions, but the bears are not inferior, as evidenced by the struggle to consolidate the value of ether.
A quick denouement is likely, you need to carefully consider any changes in the ETH market, rapid price changes in both directions can lead to collecting stops.
The material was prepared by an analyst of the cryptocurrency exchange OKEx
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