PolkaDot gains 40% over the weekend as Bitcoin enjoyed the calm weekend around the $11,600 price level so we are reading more in the following altcoin news.
Bitcoin and most of the other larger-cap altcoins recovered from the yesterday price dives but most altcoins are far from their last week highs. The largest cryptocurrency by market cap hit $11,400 after the unsuccessful attempt to reclaim the $12,000 level. The price drop seemed steep and the speculations increased that BTC could be aiming to close a gap at $9600. The Bitcoin futures aggregated open interest approached the ATH figure of $5 billion but the overall trend was declining as most traders closed their positions rather than opening new ones.
Looking from a technical standpoint, bitcoin struggles with a huge support resistance area at $11,600. In case BTC overcomes it, the next resistance will likely be at $11,800 before the stand-off with the psychological line of $12,000 and $12,100. Bitcoin saw a breakout last Monday that led it to $12,500 but then it lost it right away. If BTC dives again, the first major support line awaits at $11,400 which is the level from which BTC bounced.
After the controversy about its listing time, PolkaDOT gains about 40% to the $4 price level. DOT belongs to PolkaDot which is a project that carried a broad interest in the crypto community. The project completed the second token sale a month ago after the first sale in 2017. Besides DOT, most of the altcoins recovered from the dips but they are far from their 2020 high levels. Ethereum dropped to $378 to $400 in a few hours but it then got rejected and retraced to $387.
Ripple is back to $0.28 while chainlink gained over 7% in value. LINK then surpassed Bitcoin Cash which is in the red zone and the 5th largest crypto by market cap. Cosmos is the gainer of the day with a price surge of 28%. The team behind the project shared a few milestones including three million blocks and 125 validators with $1.5 billion of value secured.
Balancer increased by 20%, Bytom by 19%, NEM by 17%, Kusama by 16%, and Band Protocol by 15% which are all increasing their value by double digits. The data from the analytics company sentiment connects the most recent BAND price pump with an increase in social media volume. The latest spike foreshadowed the price uptick.
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