Digital currency (DOT) rises by 40% as Bitcoin calms
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Answer Digital currency (DOT) rises by 40% as Bitcoin calms
Bitcoin and most altcoins with a large total market capitalization have recovered from their price drops on Saturday.
However, most altcoins are still far from the highs achieved last week.
Bitcoin back to $11,500:
The largest cryptocurrency by total market cap fell to the $11,400 support level after another unsuccessful attempt to regain the $12,000 level.
The drop appeared to be rather steep, and speculation rose that Bitcoin might aim to close the CME gap at $9,600.
Technically, Bitcoin is now struggling with a major support that turned into a resistance area at $11,600.
In the event Bitcoin decisively overcomes it, the next resistance level is likely to be $11,800 before another encounter with the $12,000 psychological line.
Read:Cambodia is preparing to launch a blockchain-based digital currency in 2020
As a reminder, Bitcoin had a false breakout last Monday, rising to $12,500, but quickly lost it.
If Bitcoin drops again, the first support line awaits at $11,400, which is the level it bounced from yesterday.
If this support is broken, we could see $11,200 and $11,000.
The DOT digital currency is flying out of the flock:
After some controversy over when to list it for trading, the DOT coin has soared to over $4, which is nearly 40% on the day.
For your information, the DOT coin represents the PolkaDot project, a project that is gaining wide interest in the crypto community.
The project completed its second public sale a month ago, after the first sale during 2017.
Besides the DOT coin, most altcoins have recovered from yesterday’s lows as well, but they are still far from their 2020 highs.
Ethereum dropped to $378 but later rose to nearly $400 within a few hours, then fell to $386 at the time of writing.
Ripple is back above $0.26, and LINK, after rising more than 7% in value, has fallen from fifth place before Bitcoin Cash to sixth place.
Read:BMW automaker launches blockchain rewards app
As for the currency that makes the event at these moments, it is the ATOM coin of the Cosmos project, where the price of the coin increased by 16%, as a result of the participation of the team responsible for the project, the roadmap and many of the milestones that the project has achieved so far.
Read also:
Project Polkadot officially launches its own network
Learn about the Polkadot project and its importance in the world of crypto and digital currencies
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