It seems like the poor (last) week is over for cryptocurrencies – and that this Monday there are new gains for most of the digital coins. Bitcoin has been leading this movement, coming closer to $8,500.
The altcoins recorded gains too over the past 24 hours. Some of the most impressive gains included tokens such as Tron (TRX), AirSwap (AST) and Ontology (ONT) which all recorded gains in the 10 to 20 percent range.
The majority of tokens in the space also experienced an intensified movement on the downside which mimicked the downward pressure of Bitcoin (however with larger margins). The tokens like ONT, ICON (ICX) and 0x (ZRX) fell substantially.
Most of these tokens rebounded from the recent losses, recording large gains against Bitcoin which rose by 4% against the US dollar. AST has been one of the most interesting altcoins, on the other hand, which rose by more than 15% followed by TRX which demonstrated a 9.5% rise.
Ever since early May, Bitcoin has been on a downward trend. After failing to test the $10,000 support level in early May, the Bitcoin price has remained in the $8,000 range which is a support level that could again allow the BTC price to test the $10,000 level in the short term.
The latest attempt for that was on May 15, when Bitcoin came closer to $9,600 and barely entered the $10,000 region. Hopefully, we will see this happening by the end of this month, especially after the nice short-term momentum that put the Bitcoin price $600 higher (from $7,900 to $8,500).
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