BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
BTC has been moving downwards since reaching its all-time high of $64,854 on April 14.
Despite the low of $50,931 on April 18, the quick bounce back has had BTC trading near the $55,000 level.
BTC is following a descending resistance line. The line currently coincides with the 0.5 Fib resistance at $57,960.
While previously bearish, technical indicators are supporting a reversal. The MACD has given a bullish reversal signal and the RSI is increasing.
This shows signs of a possible breakout at BTC attempts to regain ground.
The top-10 crypto market cap rankings are much the same, with most seeing percentage gains over the last 24 hours.
Celo (CELO) is the biggest altcoin mover trading at $6.01, a gain of 44.76% at the time of publishing.
Dogecoin (DOGE) received a massive boost over the last week, up 157.18% However, it was the biggest loser over the last 24 hours, with a 19.75% drop. It is currently trading at $0.3297.
This reduction also resulted in a drop to sixth place for Dogecoin, with Tether (USDT) taking back its spot at fifth.
In other crypto news
- The IRS released a memorandum clearing up doubts surrounding assets that have been hard forked.
- Binance Smart Chain (BSC) increased activity and volumes has been taking its toll on its network in terms of performance.
- Uniswap has been performing phenomenally well in the past few months, despite the fact Ethereum (ETH) gas fees have been staggeringly high.