The global finance was hit with the COVID-19 pandemic. The traditional finance and crypto market were both hit by this pandemic as the market collapsed within hours on 12 March. The crypto market began recovering from it shortly after, however, the stock market required a stimulus to boost confidence among traders.
Despite the stimulus, these alts were performing better than many stocks, at press time.
Tezos
Source: XTZ/USD on Trading View
Tezos [XTZ] had been the best performer in 2019 denoting almost 190% in returns. XTZ’s price pumped at the beginning of the year to $3.95, however, the strong sell pressure from traders reduced its value to $0.9994. XTZ has managed to gain back 6.67% of its valuation but reflected a bearish sentiment.
According to Bollinger bands, the converging bands indicated that the market was moving towards reduced volatility, whereas the signal line denoted that the bears were still wandering in the market.
Resistance: $1.7987
Support: $1.2098
At press time
Price: $1.58
Market Cap: $1.12 billion
24-hour Trading Volume: $87.12 million
Bitcoin Gold [BTG]
Source: BTG/USD on Trading View
Like most crypto, even Bitcoin Gold [BTG] saw great interest from the buyers, as its price jumped to $29.089. However, as the trend followed by the rest of the market, BTG’s price slumped as low as $3.761 on 13 March. The coin has been trying to recover from the fall, but the selling pressure dragged the coin back down. The coin’s YTD stood at 20.94%, higher than most major coins.
At press time, BTG’s value was $7.104 and the market appeared bearish, as per Awesome Oscillator. However, the strength of this trend is weak and may change shortly.
Resistance: $7.9672
Support: $5.6234
At press time
Price: $7.08
Market Cap: $123.94 million
24-hour Trading Volume: $20.14 million
Qtum [QTUM]
Source: QTUM/USD on Trading View
The price of Qtum has been devalued by 30.77% since the beginning of the year. Despite the drastic rise in its price, there was barely any volume to keep the price up. The sellers overtook the Qtum market as large volumes of sell transactions took place in the market. The value of the coin fell to $0.7049. At press time, Qtum was valued at $1.194; MACD indicated the return of the buyers as the price reflected small gains.
Resistance: $1.3457
Support: $1.0082
At press time:
Price: $1.19
Market Cap: $115.11 million
24-hour Trading Volume: $344.12 million
