Bitcoin dipped around 3.2% over the weekend, though not enough to chip away at Friday’s impressive gains.
The top cryptocurrency is currently changing hands at US$20,650, comfortably above key support levels.
Bulls are now eyeing up US$22,000 at the next major resistance point to break through.
US$22,000, the next target for BTC bulls? – Source: currency.com
Ethereum lost around 5% from Friday’s rally, but is currently being supported above the US$1,560 price point.
Traders will be hoping to break above US$1,574 in the next few sessions.
Solana (SOL) dipped sharply this morning, having lost 13% from its market value.
The dip comes as co-founder Anatoly Yakovenko admitted that 2022 was “not the experience that we want to deliver” at a recent Solana conference.
The blockchain has suffered from numerous outages and hacks over the course of the year.
Dogecoin (DOGE) continues to correct following the extended Musk rally that saw the meme coin shoot up some 150% in the past couple of weeks.
DOGE dipped another 7.5% this Monday morning, having been significantly overbought in the past fortnight.
DOGE enters correction following extended overbought period (relative strength index in purple) – Source: currency.com
Elsewhere in the large-cap altcoin space, Cardano (ADA), BNB and Polkadot (DOT) all dipped in the mid-single digits, while Polygon (MATIC) added 2% as the Meta Platforms NFT integration news continued to provide support.
Aptos (APT) is still struggling to take off; its market value dipped another 13% on Monday morning.
The blockchain, which was developed by former Facebook alumni, continues to be by performance issues after launching in mid-October.
Total crypto market capitalisation remains at US$1.02tn, while total value locked across all decentralised finance (DeFi) protocols is US$54.06bn.