Bitcoin’s volatility continues with full force as the asset made another $1,000 move in the past 24 hours. Most alternative coins have marked minor gains following the recent price drops.
Stellar has been on a tear in the past week and XLM has found a place in the top ten after a triple-digit surge.
Following the most substantial gains marked in 2020 that led to the yearly high of $19,500, Bitcoin bears took control over the asset. As a result, BTC experienced vigorous price drops with up to $3,000 lost in hours and bottoming at $16,250.
During the past 24 hours, Bitcoin displayed some bullish activity as it jumped to a daily high of $17,500. However, the volatility returned and drove the cryptocurrency south to $16,500.
As of writing these lines, BTC has recovered some of the recent losses but continues to struggle around the $17,000 price tag.
The technical aspects indicate that Bitcoin has to overcome the resistance lines at $ $17,400, and $17,620 to resume its late 2020 bull run.
On the other hand, the support levels at $16,650, $16,000, and $15,400 could assist in case of a price breakdown.
The alternative coins suffered the most during the recent price drops. However, most of them have started to recover in the past 24 hours.
Ethereum bottomed at $485, but it has risen to $515. Ripple has added 4% of value in the past 24 hours and sits at $0.56.
Bitcoin Cash (3.4%), Chainlink (4.2%), and Litecoin (1%) have also increased slightly since yesterday. However, Cardano and the new top 10 representative Stellar are the most impressive gainers.
ADA has surged by 12% to above $0.15. XLM has enjoyed the past week with a near 120% price surge after the blockchain project announced major protocol updates. As a result, Stellar’s native cryptocurrency has taken the 9th spot in terms of market capitalization.
In contrast, Binance Coin has dropped out of the top ten as BNB sits at $28.
Kusama has lost the most value since yesterday – 6%. Aave (-8.5%), Synthetix (-7%), and NEAR Protocol (-6%) are next.
