While stock markets closed in the red yesterday, most cryptocurrencies actually started to rise. That increase accelerated last night and many prices are currently pushing against resistance.
Whether there is enough momentum to break out further remains to be seen. Yet the total market capitalization is finally back above $1 trillion. It rose 6% to $1.01 trillion in the past 24 hours. Discuss this in our Discord surroundings!
📈Market Overview#BTC price trades above $20K
The Top 10 are traded in the green zone: $SOL +8.45%, $ETH +8.11%, $BNB +5.26%.
Market cap: $1.02T (+5.92%) $BTC dominance: 37.88% (+2.12%)
Fear & Greed Index: 20 (Extreme Fear)Full Report👉https://t.co/4HIXhgLJXH pic.twitter.com/GfsJFUY5t8
— CryptoRank Platform (@CryptoRank_io) September 27, 2022
Bitcoin, Ethereum and Polkadot Rise Strong
Bitcoin (BTC) made a big jump last night and was up as much as 8% this morning. Still, the price seems to be struggling to break through $20,250 for the time being, with bitcoin dropping to $20,170 on Coinbase and $20,960 on Bitvavo at the time of writing.
This means that BTC is still 7% in the plus today. Some analysts are already talking about a so-called midterm rally to talk, but many analysts remain very bullish and expect this bounce will be short-lived.
20500-21000, , 14k-16k https://t.co/gEAlm4c83a pic.twitter.com/s2p18lUiHH
— il Capo Of Crypto (@CryptoCapo_) September 26, 2022
Ethereum (ETH) shows since the merge again a very high correlation with bitcoin. ETH is also up 7% in the past 24 hours, pushing against resistance around $1,385 this morning.
In recent months, $ETH has been overperforming the majority of the market on account of its historical #Merge catalyst.
However, macroeconomic conditions continue to weigh down the performance of risk assets with $ETH returns edging back to the return of the market index. pic.twitter.com/e4NNi2CUNe
— CryptoCompare (@CryptoCompare) September 26, 2022
Among the largest crypto, polkadot (DOT) is remarkably the fastest riser today. The DOT price has risen by almost 8% in the past 24 hours, but is currently also struggling with resistance. DOT has yet to break through $6.8.
Big rises in the top 100
In the top 100 we find a series of prices that rise even faster. Chainlink (LINK) is also almost 8% in the plus, but for maker (MKR) it is already 9.5% and for stepn (GMT) even 11%. Ethereum name service (ENS) enters the top 100 after rising 13.5%. Neo (NEO) is today 14.5% in the plus and uniswap (UNI) no less than 17.5%.
Terra Luna Classic rises 50%
Yet again it is the highly volatile terra (LUNA) and terra luna classic (LUNC) that steal the show. LUNA is up 13.5% today, but LUNC is close to 50%. LUNC broke out yesterday after altcoin news of a Binance burn, but the price has yet to break through $0.00032. LUNC dips back below $0.0003 at the time of writing.
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