As mentioned in last week’s market breakdown, three weeks after the FTX collapse, it is still taking center stage on crypto news, but this didn’t stop the bulls last week. Even though the week had a slow start, by the weekend, the majority of the top cryptocurrencies by market cap were green for the week.
Despite the two biggest cryptocurrencies, Bitcoin (BTC-USD) and Ethereum (ETH-USD), remaining mostly unchanged for the week, more of the other top 10 cryptocurrencies stole the show, such as Elon Musk’s favorite, Dogecoin (DOGE-USD), which is up 21.6% in the last seven days and Binance BNB (BNB-USD) token, which is up 11.4%,
Bitcoin continued trading within a tight range from the $17,000 resistance to the $15,500 floor for the second week. As the price has been almost unchanged in the past seven days (down 0.7%), the analysis from last week remains intact:
If the bullish momentum continues this week, with a break above the resistance at $17,000, the next resistance level to watch for is $20,000. However, if the negative sentiment caused by the FTX scandal…
To read the original article from news.google.com Click here