BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
Bitcoin update
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.
Altcoin movers
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.
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