BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
Bitcoin update
Bitcoin had been struggling to move above the $61,500 resistance area since reaching the level for the first time on March 13. Yesterday, it finally managed to break out and has reached a new high of $64,854 on April 14.
Technical indicators are bullish and support the continuation of the upward movement. The MACD has given a bullish reversal signal and both the RSI and Stochastic oscillator are increasing. The former is very close to crossing above 70.
The closest resistance area is found at $68,724. It’s found by using the 1.61 external retracement on the most recent drop.
Due to the readings from technical indicators, BTC is expected to reach this level.
Altcoin movers
As the crypto markets continue to boom, competition in the market cap top-10 has been heating up.
XRP saw a huge spike this week. It’s currently up nearly 87% on the week and is only around $2 billion from overtaking BNB in the #3 spot.
Dogecoin (DOGE) has also enjoyed massive gains. It’s today’s biggest altcoin gainer, up over 83% in the past 24 hours alone. It’s trading at an all-time high of $0.135. This has allowed DOGE to move into the top-10 with a market cap of $17.2 billion.
CoinGecko is reporting that Dent (DENT) is today’s biggest loser—down 9% in the past 24 hours. It seems to be in a longer-term correction, however, as it’s down more than 32% in the past week.
In other crypto news
- Nasdaq has given Coinbase’s stock, COIN, a reference price of $250. The stock will officially be listed today, April 14.
- Kraken CEO Jesse Powell, speaking to Fox Business, said that the exchange intends to launch an IPO in 2021. However, it may need to consider relocating to another country due to tightening regulations in the U.S.
- Researchers at Matter Labs have found a way to make Layer 2 scaling for Ethereum even faster with an innovation called zkPorter.
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