“#Crypto: Bitcoin rally meets resistance as price approaches its 200-day moving average”
Meanwhile, ether maintains post-hard fork rally
The price of bitcoin met resistance as it closed in on its 200-day moving average Sunday.
rallied as high as $44,575 early Sunday — almost hitting its 200-day moving average of $44,600 — before slipping. The world’s largest cryptocurrency by market cap was last trading at about $43,700 on Sunday night, according to CoinDesk data.
The weekend peak was bitcoin’s highest level since its most recent selloff began in mid-May. Bitcoin has rallied more than 10% over the past five days, and is up 32% over the past month.
the cryptocurrency that runs on the Ethereum blockchain, also continued to rally over the weekend, following a hard fork last week. On Thursday, Ethereum activated a massive network upgrade, dubbed “London,” which added a number of streamlining features. The price of ether topped $3,000 on Saturday for the first time since mid-May, and was trading around $3,013 as of Sunday night, according to Kraken data. Its price is up about 12% over the past five days.
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