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December 5, 2022
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Guide & Analysis

What changed in the cryptomarket while you slept

Market changes you may have missed while you were sleeping.

The daily period continues to provide a bullish outlook for the BTC, mainly due to readings of technical indicators.

The MACD is rising and has given a bullish reversal signal and the RSI has completed a fail swing bottom. In addition, it is generating bullish divergence along an upside (blue) support line. Finally, the Stochastic Oscillator is moving up and is relatively close to generating a bullish cross.

Therefore, the outlook for the daily period is bullish.

Altcoin

The total capitalization of the cryptocurrency market is still trending mostly sideways today, in a move to $1.66 trillion. That’s just slightly below yesterday’s high of $1.67 trillion.

Aside from a few deviations, the altcoin market is doing well today. Binance Coin (BNB) rose 8% and usurped Cardano (ADA) to claim fourth place. Dogecoin (DOGE) in sixth place rose more than 20% on the day to send its market capitalization back to $50 billion.

Curve DAO Token (CRV), however, is the biggest winner among the altcoins of the day so far. It has risen nearly 25% and is trading at $2.27 at the time of publication. The Internet Computer (ICP) left the top 10 in market value, with a loss of 3.3% for the day. The ICP dropped almost 26% last week.

Source: BeinCrypto

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