Bitcoin (BTC) and many altcoins were able to rise a bit yesterday and that continued last night. Nevertheless, fear and uncertainty remain very high among investors and macro is currently determining the price direction. The total market cap of all cryptocurrencies is up 3% to $1.36 trillion.
Daily Market overview.
Market cap: $1.36T +2.84%⬆️
SPOT Volume 24h: 29.9B +9.03%⬆️$BTC dominance: 42.16% +0.06%⬆️
Fear & Greed Index: 10😱extreme fear sentiment. Most projects in profit.🟢#Bitcoin $BTC $ETH #EthereumMy socials🌐👉https://t.co/h7kQrKQGFo pic.twitter.com/sy2hDjUVCn
— IT Tech (@IT_Tech_PL) May 23, 2022
Ethereum up 3.3%
Ethereum (ETH) again follows the same path as bitcoin. The ether price jumped back above $2,000 yesterday morning and held steady. Towards midnight, ETH began to climb further but failed to break through USD 2,050, but this time found support around USD 2,030. This morning, ETH did pass through $2,050 but was now rejected around $2,070 and is currently falling back towards $2,050 with the price up 3.3%. Can ETH hold up right here?
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All your regular updates on What’s New in #Eth2 in one handy place.
Bullish Merge!
— Ben Edgington (@benjaminion_xyz) May 20, 2022
DOT, XRP cautiously in the plus
Polkadot (DOT) corrected considerably after yesterday’s jump, leaving the price slightly behind today. Despite this, DOT jumped again this morning, but was rejected at $10.4, dropping to 10.3. This puts DOT in the plus by 1.1%. Ripple (XRP) also lags slightly, having just declined around $0.425, but is still up 1.2%.
DOGE, ADA, BNB, TRX are attracting stronger
Dogecoin (DOGE) lagged yesterday, but still rose this morning. Still, DOGE was just rejected at $0.88, but is still 1.3% in the green. Cardano (ADA) initially fell yesterday but held steady around $0.535. However, ADA was able to break through USD 0.55 this morning and is falling towards USD 0.545. Still, ADA is 1.9% in the plus. Binance coin (BNB) rose sharply this morning, but was rejected at the $330 and now drops to $327, leaving the price still 2.4% in the green. Tron (TRX) rose sharply just last night, but was unable to continue overnight. TRX is up 2.6% at $0.077.
AVAX, SHIB, SOL rise sharply
Avalanche (AVAX) jumped sharply yesterday afternoon and is currently holding above $31. AVAX is up 3.5% at $31.5. Shiba inu (SHIB) rocketed briefly this morning, but is now correcting towards USD 0.124 and is up 4.5%. Solana (SOL) is the winner today among the largest crypto and was finally able to break the USD 53 again this morning where the price was recently rejected. However, the $54 was still too much this morning, despite this SOL is up 4.8%.
#Solana appears to be forming an ascending triangle on its 4hr chart. A decisive close above $59 might have the strength to send $SOL to $79.
The bullish thesis will be invalidated if #SOL prints a 4hr close below $47. pic.twitter.com/XrKHTgTpa8
— Ali Martinez (@ali_charts) May 22, 2022
Crypto top 100 hardest risers
In the top 100 we also have pankcake swap (CAKE), stacks (STX), cosmos (ATOM) and aave (AAVE) 5% in the plus today. Thorchain (RUNE), dash (DASH) and axie infinity (AXS) are already 7% in the green. Klaytn (KLAY), chain (CHAIN) and monero (XMR) rose about 8% in the past 24 hours. Uniswap (UNI) is 10% in the plus, convex finance (CVX) 11%, ecash (XEC) 12% and fantom (FTM) no less than 13%. Neo (NEO) even rose 17% in the last 24 hours.
LUNA rises fastest again
But it is Terra (LUNA) that is rising the fastest again. The price rose by more than 80% on Sunday morning and then held on to it and is again 20% in the plus today. This is probably related to a community token burn as stated in the market update yesterday. Despite this, LUNA is still 100% down from two weeks ago and this new trend could turn around very quickly.
To clarify, as I’ve noted multiple times i dont think sending tokens to this address to burn tokens is a good idea – nothing happens except that you lose your tokens
Because there to be no confusion whatsoever https://t.co/GrzG9cclAr
— Do Kwon 🌕 (@stablekwon) May 23, 2022
Also, we have another red coloring crypto from the top 100 today and that is zilliqa (ZIL). ZIL is down 7% this morning and comes in at $0.576.
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