Bitcoin struggles at the $17,000 price level with the top 10 coins seeing the entrance of stellar as it skyrocketed by 120% over the past week so let’s read more in our latest Stellar news today.
Bitcoin’s volatility continued with full force as the cryptocurrency made another increase by $1,000 in the past 24hours. Most alternative coins marked smaller gains after the recent price drops. Stellar was on a tear over the past week and XLM found a place among the top ten after the triple-digit surge. After the most substantial gains that were noted in 2020 and led to the yearly high of $19,500, BTC bears took over and as a result, it experienced a huge price drop to $3000 and hit a bottom of $16,250 and still, Bitcoin struggles at these levels.
Over the past 24 hours, BTC displayed some bullish activity and it jumped to a daily high of $17,500 but the volatility returned and boost the cryptocurrency to $16,500. BTC recovered some of the losses but continued to struggle at the $17,000 price tag. The technical aspects show that Bitcoin overcomes the resistance level at $17,400 and $17,620 in order to resume the late 2020 bull run. On the other hand, the support levels at $16,650 and the $16,000 levels, could help the coin if another breakdown is to happen.
The alternative coins suffered the most during the price drops but most of them started to recover over the past day. Ethereum bottomed out at $485 but then it increased to $515. Ripple added 4% of value in the past 24hours and sits at $0.56. Bitcoin Cash increased by 3.4%, Chainlink by 4.2% and Litecoin increased a little by 1% yesterday. Cardano and Stellar were among the most impressive gainers. ADA surged by 12% to more than $0.15 but XLM enjoyed the past week in the near 120% price surge and the platform even announced new protocol updates. As a result, Stellar’s native crypto took the 9th spot in terms of market cap.
The Binance coin dropped out of the top ten as BNB was set at $28. The most impressive gainers include Numeraire which 20% price increase, Decred with 13% and ABBC coin with 15%. Kusama lost a huge chunk of value yesterday by 6%, Aave lost about 8.5% and Synthetix lost about 7%.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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