The altcoin market has been largely correlated to the price of Bitcoin [BTC], especially after the 12 March market crash and the king coin’s resurgent hold on the crypto-market. However, as Bitcoin’s price moved up, not all the altcoins shared the market sentiment and moved up.
Bitcoin [BTC]
Source: BTC/USD on Trading View
The price of Bitcoin suggested some positive movement in the market, immediately after its massive fall. While it has been climbing upwards, the volume appeared to be less. The price of Bitcoin marked its immediate resistance at $6.8k as it lingered around the $6.4k level, at the time of writing. The support for the coin was also recorded immediately at $5.6k.
Bitcoin, in 2020, has recorded losses worth 8.39%, with the king coin preparing for its halving too. According to the Chaikin Money Flow Indicator, the coin has entered the buying territory.
Due to the recent re-adjustment in mining difficulty, the hash rate fell, following which, more miners might come back to the network.
Resistance: $6,847.26
Support: $5,695.89
Press time Price: $6,475.06
Market Cap: $118.47 billion
24-hour Trading Volume: $36.34 billion
Basic Attention Token [BAT]
Source: BAT/USD on Trading View
Basic Attention Token [BAT] had climbed to the price point of $0.3267 on 15 February 2020; however, it has been tumbling since. The price of the crypto-asset had fallen to $0.1399 and had lost 23.985% of its valuation in the 2020 bear market. Despite being valued low, the coin expected the bulls to arrive, according to the Awesome Oscillator indicator.
Resistance: $0.1454
Support: $0.1211
Press time Price: $0.1399
Market Cap: $201.96 million
24-hour Trading Volume: $77.07 million
Nano [NANO]
Source: NANO/USD on Trading View
Along with other altcoins, Nano also managed to register a 25.58% loss in YTD. According to the Parabolic SAR, the coin was in bearish territory as the markers aligned under the candlesticks. An upward trend has also been forming post the drastic fall, pushing the price of the asset close to $0.4685; however, a lot more effort will be required for the coin to gain its value back.
Resistance: $0.5920
Support: $0.3905
Press time Price: $0.4678
Market Cap: $62.34 million
24-hour Trading Volume: $3.11 million
