Conquering $60,000 is not an easy task proved the past 24 hours as BTC dropped below it again, while XLM has entered the top 10 after a 25% daily surge.
Despite overcoming its nemesis at $60,000 yesterday, bitcoin’s struggles with that particular benchmark level continue as the asset has dipped beneath it. Most altcoins have also retraced slightly, with the apparent exception of Ripple (XRP), which surged to a new 3-year high of $1.4 following more positive news in the ongoing legal battles with the SEC.
Bitcoin Dips Below $60K Once Again
After a three-week-long wait, bitcoin finally overcame $60,000 yesterday. Furthermore, the cryptocurrency kept going upwards and charted a high of $61,200.
However, the situation has changed since then. Just as the community was over joyous with the developments, BTC started to retrace.
In the following hours, the primary cryptocurrency lost roughly $2,000 of value to a low of $58,300 (on Bitstamp). The roller-coaster continued, though, and BTC spiked above $60,000 again before slipping to its current level of approximately $59,500.
According to the technical indicators, $60,000 remains the first major resistance line in BTC’s way up and Bitcoin was unable to close yesterday’s daily candle above it. In case BTC breaks above the milestone, then the next resistance lies at $61,170, followed by the March ATH of $61,780. Alternatively, the support levels at $59,070, $58,355, and $57,695 could assist in case of a price breakdown.