50k resistance capping Bitcoin but Cardano at all-time high [Video]
![50k resistance capping Bitcoin but Cardano at all-time high [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Digital Currencies/Bitcoin/bitcoins-33646574_XtraLarge.jpg)
Cryptocurrencies posted significant net gains on Friday with comments from Fed Chair Powell important in triggering fresh demand.
Bitcoin posted gains to near $49,000 before drifting lower on Saturday.
There was still an element of uncertainty whether strong risk conditions amplified or curbed demand for coins.
Bitcoin was held below the $50,000 level and posted net losses to below $48,000 on Monday with markets still wary over regulatory conditions in China. Losses accelerated in Asia with bitcoin hitting lows below $47,000 before a limited recovery.
Ether posted gains to above $3,250 on Friday and peaked just below $3,350 on Monday before a retreat and test of $3,200 in Asia on Tuesday with very choppy trading underlying conditions.
Cardano re-tested the recent all-time high at $3.00 and looks set to challenge again with $2.47 looking likely to support.
Author
Steve O'Hare
Signal Centre
Steve has over 30 years of trading experience in Commodity, Equity and Fixed Income markets, in both research and trading.
