Bullish Momentum for Bitcoin – What Will the Week Bring?

Crypto Market Overview: Bullish Momentum for Bitcoin – What Will the Week Bring?

  • Bitcoin opened the week at $55,781 but dropped slightly to $55,465 shortly after. Currently, BTC is trading bullish at $57,200.
  • Harmony (ONE) is up a massive 25% in the last 24 hours.
  • Following the hype around non-fungible tokens (NFT) and decentralised finance (DeFi), the DODO exchange has introduced some new features.

Bitcoin (go to Plus500 bitcoin buying guide) opened the week at $55,781 but fell slightly to $55,465 shortly after.

Over the weekend, BTC regained some lost ground and reached $56,600. It seems that this move has Bitcoin Surpreme confirmed the lower line of the ascending channel as resistance.

If BTC is unable to move back into the channel, we could see a steeper correction. There is a strong horizontal support level between $42,000 – $43,000.

Altcoin movements

There was little change in the crypto top 10 over the weekend. After moving into 9th place last week, Theta Network has quickly risen near the token in 8th place – the Uniswap token (UNI).

In the last 24 hours, Harmony (ONE) is the biggest altcoin mover in the top 100. It is currently trading for $0.212 – a 25% gain in one day.

AscendEX (BitMax) Token (BTMX) lost a whopping 30.5% in the last 24 hours. It has dropped to #71 and is trading at $2.11.

What else happened in the crypto industry

Following the boom in non-fungible tokens (NFT) and the hype around decentralised finance (DeFi), the DODO exchange has introduced some new features. According to the announcement, DODO’s pools enable NFT fragmentation. This involves breaking down an artwork or collectible into a number of smaller pieces to enable shared ownership.

In a post-mortem article on 29 March, the PancakeSwap team described a flaw in their lottery smart contract. A whitehat hacker discovered the critical vulnerability before funds were stolen.

The Solana ecosystem received a $20 million development boost from OKEx’s own Block Dream Fund and connects to AscendEX. The AscendEX exchange announced on 26 March that it had launched support for operations through the Solana Program Library (SPL).

Bullish Momentum for Bitcoin – What Will the Week Bring?
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