RATE Group | Cryptocurrency Market Update: Another Rebound Which May Not Last
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Cryptocurrency Market Update: Another Rebound Which May Not Last

28 Nov Cryptocurrency Market Update: Another Rebound Which May Not Last

Posted at 10:58h in Cryptocurrency News by

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Markets rebound again, but have a long way to go; Monero, Nem and Zcash rising Bitcoin SV dumping hard.

There has been another rebound today as markets bounce between two low levels. Yesterday’s decline has reversed as that $7 billion has been funneled back into crypto today to take market capitalization back over $130 billion again.

Bitcoin has pulled back the 7% it lost yesterday to take it back above $4,000 again, but only just. BTC hit that support zone of $3,650 for the third time yesterday and bounced off it again. A short spurt a few hours ago has propelled Bitcoin back towards its resistance level at $4,100 which it has also hit a couple of times.

Ethereum is slow to do anything these days though it has been dragged back from the sub $100 cliff by 7% to $115 at the time of writing. It is completely tethered to the movements of Bitcoin at the moment as most cryptos are.

Altcoins are generally in the green during the day’s Asian trading session. The biggest climber in the top…

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