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  • Bitcoin’s hashrate returned to the area above 100 exahashes.
  • Bitcoin and all major altcoins are recovering, still below critical resistance levels.

Bitcoin’s network hashrate recovered from the recent dip to 87 exahashes, the lowest since December 2019, and settled above 100 exahashes.

The crash was caused by Bitcoin’s halving that happened on the previous Monday, May 11. The reward received by miners was cut from 12.5 to 6.25 BTC per block, which means that small miners and less cost-effective miners were forced to go offline. Consequently, it resulted in a hasrate decrease. However, now that the network stabilized, the hashrate returned to normal. 

Top-3 cryptocurrencies price updates

Bitcoin (BTC) has returned back on the recovery track. After hitting the low of $9,440 during early Monday hours, the first digital asset got back above $9,600 to trade at $9,675 at the time of writing. A sustainable move above the thick layer of stops clustered around $10,000 has been limiting the recovery in recent days. Once it is out of the way, the upside is likely to gain traction with the next focus on the highest level of 2020 at $10,511.

Ethereum came close to $217.00 only to retreat to $211.40 by press time. The second-largest digital asset gained nearly 2% since the start of the day moving in sync with the market. The next resistance is created by the intraday high ad followed by a psychological $220.00. The support comes at $210.00

XRP/USD is changing hands at $0.2040. While the coin managed to settle above the upper boundary of the recent consolidation channel at $0.2000, the further upside seems to be limited. The next resistance is created by $0.2080 (intraday high), followed by $0.2100.