Bitcoin consolidates gains, gets ready for further upside

Bitcoin is hovering above $9,700, critical resistance is located at $10,000.
Monero is the best-performing altcoin with over 4.5% of gains.

The cryptocurrency market is a mixed picture on Monday as Bitcoin and all major altcoins have been range-bound after a mild growth during late Sunday hours. The total market capitalization edged to $252 billion from $248 billion on Sunday, while an average daily trading volume stayed unchanged at $40 billion; Bitcoin’s market dominance increased to $69.4%.

Top-3 coins  price overview

At the time of writing, BTC/USD is changing hands at $9,783, with 1.6% gains on a day-on-day basis. The first digital asset has barely since the beginning of the day as trading activity remains low. While a sustainable move above $9,600 bodes well for Bitcoin bulls, we will need to see a follow-through in the nearest future for the upside to gain traction.

Ethereum, the second-largest digital asset with the current market capitalization of $18.5 billion. ETH/USD is changing hands at $171.30. The coin tested area above $173.00 during late Sunday hours but failed to hold the ground. ETH/USD has been unchanged both since the beginning of the day and on a day-on-day basis.

Ripple’s XRP cannot escape from the range limited by $0.2500 on the downside and $0.2600 on the upside. The third-largest coin with the current market value pf $11 billion has been sitting in a tight range for several days, irresponsive to positive fundamentals.

Read also: SBI Ripple-powered MoneyTap swells with 4 addition partners

The biggest altcoin market-movers

Monero (XMR) is the biggest winner of the day. The coin has gained over 4.5% in recent 24 hours to trade at $70.81.It is worth noting, that a cryptocurrency rating service CoinMarkettCap changes its methodology as of today, which may affect coins positions in the rating.

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