Bitcoin's recovery stalled on approach to $11,000

• Bitcoin and major altcoins have recovered from the recent lows.

• The upside momentum has faded away on the approach to critical resistance levels.

The cryptocurrency market is recovering after a sharp sell-off registered during the weekend. Bitcoin (BTC) and all major altcoins are gaining ground, though the critical resistance levels have yet to be broken.

The total capitalization of all digital assets in circulation jumped to $291 billion from $272 billion this time on Monday. The total trading volume is registered at $71 billion, while Bitcoin's market share increased to 66.6%, the highest since April 2017.

Top-4 coins price overview

Bitcoin (BTC/USD) is hovering around $10,800 after a short-lived dip below $10,000 during early Asian hours on Monday. The first digital coin has gained over 7% in recent 24 hours and stayed unchanged since the beginning of the day as the recovery momentum has faded away on approach to the critical resistance level of $11,000.
 

Ethereum, the second largest digital asset with the current market capitalization of $24.6 billion, is also in recovery mode. ETH has grown by 5% in recent 24 hours and settled above $230.00 on Tuesday, moving away from the recent low of $202.80. However, on short-term timeframes, the coin is moving within a bearish trend as an upside momentum is fading.

Ripple's XRP has gained 3.4% since this time on Monday to trade at $0.3166 by the time of writing. The third largest digital asset with the current market capitalization of $13.4 billion settled above $0.31 handle, though the recovery is capped by $0.3200.

Litecoin (LTC/USD), now the fourth largest digital asset in the global cryptocurrency rating, is losing ground on Tuesday. While staying in a green zone on a day-to-day basis, LTC/USD has lost about 1.5% in Asia. At the time of writing, LTC/USD is changing hands at $88.90, off the intraday high of $91.79 hit during early Asian hours.

 

Tanya Abrosimova

FXStreet

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