RATE Group | jBitcoin and major altcoins `jump off the lows, give bulls a glimpse of hope
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jBitcoin and major altcoins `jump off the lows, give bulls a glimpse of hope

18 Dec jBitcoin and major altcoins `jump off the lows, give bulls a glimpse of hope

Posted at 15:08h in Cryptocurrency News by

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  • The market has started to recover from oversold levels.
  • The overall trend is still bearish as the recovery may be limited.

Bitcoin and major altcoins have recovered from the recent lows amid technical correction from deeply oversold levels. The total capitalization of all digital assets in circulation settled at $179 billion, while an average daily trading volume spiked to $93 billion.

Top-3 coins: technical picture

BTC/USD is changing hands at $6,659, off the intraday low of $6,435. The first digital coin is still down nearly 3% on a day-to-day basis. From the technical point of view, Bitcoin has returned inside the Bollinger Band on 1-hour chart with further recovery limited by $6,700.

ETH/USD regained the ground above $123.00 after collapsing to $166.40 earlier on Wednesday. The second-largest coin is shadowing Bitcoin moves with the initial resistance created by $125.00 (the upper line of 1-hour Bollinger Band). An upward-looking RSI (Relative Strength…

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