Daily Times

The cryptocurrency market remained on the upward slide on Monday, with the market cap increasing 1.6 percent to $1.91 trillion as of 1255 hours GMT.

The price of Bitcoin (BTC), the largest cryptocurrency, jumped to $45,701 by gaining 1.44 percent. With this increase in price, the market capitalisation of the BTC has reached $858.2 billion.

However, ethereum (ETH) price turned south and shed 0.54 percent to reach $3,124. With this decrease in price, the market capitalisation of ETH has reached $365.6 billion.

On the other hand, XRP gained 0.54 percent to reach $0.816. The market capitalisation of XRP stands at $81.5 billion after this increase.

Similarly, Cardano (ADA) price reached $1.46 with a 1.05 percent decrease in its price. Its market capitalisation has reached $47.2 billion after this decrease.

Likewise, Dogecoin (Doge) price depreciated by 3.45 percent to reach $0.255. With this decrease in price, the market capitalisation of Doge reached $33 billion.

According to analysts, Bitcoin rallied above $45,000 as upside momentum improved over the past two weeks. They said that next level of resistance is seen at $50,000, which could limit further upside given short-term overbought signals. They, however, said the weekly RSI is rising from neutral levels with a positive momentum signal for the first time since October 2020, which reignited the long-term uptrend. Buyers could remain active on pullbacks this week as bitcoin cleared important technical levels such as the 100-day moving average, they further said.