Today’s crypto movers: Bitcoin (↑1.77%), Ethereum (↓1.00%), Terra Classic (↓11.14%) and ApeCoin (↑6.52%)

The crypto market moved higher as short sellers were liquidated.

Bitcoin reclaimed two major price levels over the weekend: $20,000 and $21,000. The next level to watch is $23,000.

Across the crypto market, prices changed by 0.56% in the last 24 hours, which is a minor move compared to the past few days.

The trading volume over the last 24 hours was 8% higher than the average over the last 7 days, which means that short seller liquidations had not stopped.

The two largest coins: Bitcoin and Ethereum

Bitcoin is the largest coin by market cap and its price has changed by 1.77% in the last 24 hours.

Bitcoin is trading above $22,000 where it is overloading the 50 and 100 simple moving averages. Typically, this can act as a resistance level that could halt further advance. However, the main resistance level stands at $23,000. If BTC manages to reach this point and climb even higher, more liquidations could take place and potentially push the price to $25,000.

The second most valuable cryptocurrency, Ethereum, saw a price change of -1.00%. Ethereum’s market cap is 36.49% of the total value of Bitcoin.

Ether is trading at $1,750, which is an important price level. ETH needs to hold if we are to see a rally to $2,000 anytime soon. Otherwise, $1,500 is the next level to watch.

Today’s biggest winners and losers

There were big gains for ApeCoin (APE) up 6.52%; PancakeSwap (CAKE), up 4.35%; and NEM (XEM), which gained 3.63%. (All numbers are based on the last 24 hours of trading at the time of writing.)

ApeCoin (APE) is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club (BAYC). The token facilitates the APE Foundation’s APE ecosystem.

PancakeSwap (CAKE) is an Automated Market Maker (AMM) for token trading and yield farming for rewards. Users farm, participate and participate in governance with their CAKE token.

NEM (XEM) started in 2015 as a hard fork of NXT, an open-source blockchain payments network. In 2021, NEM released a new platform called Symbol. It provides companies with a basis to create blockchain products in the Java programming language. Its XEM token incentivizes public network nodes and pays and records transactions.

The largest declines were in Terra Classic (LUNC), down -11.14%; EOS (EOS), which fell 6.41%; and Litecoin (LTC), which is down 4.34%.

Terra Classic (LUNC) is the original token of the Terra (LUNA) blockchain. On May 28, 2022, LUNA tokens were changed to LUNC after the implosion of Terra’s stablecoin TerraUSD (UST). The purpose of the token is questionable as the original Terra chain has no clear future.

The price is reversing part of its recent 597% surge. Part of this rally followed news that LUNC tokens would be burned as part of transactions. Traders speculated that this would increase the value of the token.

EOS (EOS) is a platform that allows developers to create decentralized apps. It prioritizes usability, business flexibility and compliance, consumer security and scalability.

Litecoin (LTC) is a fork of Bitcoin with several differences that help offer fast and cheap payments. Its LTC token transfers value and rewards LTC miners. The latest loss follows LTC in the apocalyptic TV series Last Light.

Are you trying to get a handle on the markets? Cut through the noise with our rundown of the best cryptos to buy right now, explore some crypto trading strategies, or see if there’s a better platform for you with our guide to the best crypto exchanges are.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risk – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances and get your own advice before relying on this information. You should also verify the nature of the products or services (including their legal status and relevant regulatory requirements) and consult the websites of the relevant regulators before making a decision. The finder or the author may have interests in the cryptocurrencies discussed.

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