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Qtum, Bitcoin gold, Tezos Price: Alts flourish while major cryptos suffer

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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

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

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

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

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Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.
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