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Bitcoin retreated from monthly highs to trade above 11,000 dollar

2019-08-07 09:26 am | Resource: | No Views : 27

Bitcoin retreated from monthly highs to trade above  11,000 dollar Bitcoin retreated from a new monthly high recorded during yesterday's trading at $ 12,333 as the largest Cryptocurrency saw sharply correct against the US dollar to rebound right now after testing the major support zone at $ 11200. Although the $ 12,000 level appears to be a strong level of near-term resistance, it is important to note that Cryptocurrency is still noticeably high from its recent low of $ 9,100, the price at which the recent uptrend started for the first time.

At the beginning of the week Bitcoin (BTC) faced a lot of buying pressure until late, allowing it to rise from a low of $ 9,100 to $ 12,300. This upward momentum indicates a reversal of the downward trend encrypted in the past month.

The price of ETH traded to a new monthly high approaching $ 240 before being corrected against the US dollar. The price currently holds important support near the $ 222 and $ 224 levels. Yesterday's important uptrend line is active with support near $ 224. On the other hand, there was a significant rise in the price of ripple above the resistance level of $ 0.3220 against the US dollar

The market capitalization of etherium was US $ 24.1 billion or 8.05% of the total market value of Cryptocurrency, while the total market value of Ripple was US $ 13.3 billion or 4.45% of the total market value of Cryptocurrency. Bitcoin market cap rose to $ 201.8 billion, or 67.55% of the total Cryptocurrency market cap. At its highest level, Bitcoin's capital reached $ 241.2 billion.

Cryptocurrency trades
  • Bitcoin traded above the $ 11,306.5 threshold after exceeding $ 12,000 levels.
  • Ethereum fell at $ 224.00, down 3.67% on the day.
  • XRP was trading at 0.30985 $ at a loss of 4.32%.

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