The cryptocurrency market settles down, Bitcoin hovers above $10,500

Bitcoin is hovering around $10,500 amid range-bound trading.
Huobi Token (HTT) is the best-performing altcoin with over 4% of gains.

The cryptocurrency market has calmed down after a strong recovery at the beginning of the week. Bitcoin and all major altcoins are range-bound mostly with a bullish bias. The market is still full of optimism; however, we may have a hard time moving forward as Bitcoin is getting closer to a strong resistance area. The total market capitalization increased to $268 billion, while an average daily trading volume edged to $60 billion; Bitcoin’s market dominance stays at multi-year high above $70.0%.

Top-3 coins  price overview

At the time of writing, BTC/USD is changing hands at $10,584, with over 1.5% gains on a day-on-day basis. The first digital asset has settled well above $10,500, which is a positive technical development; however, we will need to see a follow if the upside trend is set to gain traction.

Ethereum, the second-largest digital asset with the current market capitalization of $19.2 billion, is changing hands at $178.87, unchanged both on a day-on-day basis and since the beginning of the day. The coin has retreated from the recent high registered on approach to $183.00 and has been sliding down ever since.

Ripple’s XRP has settled marginally above $0.2600 barrier. The lack of follow-through makes the coin vulnerable to the sell-off. XRP/USD will get back inside the previous range if the bulls fail to regain control.

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The biggest altcoin market-movers

Huobi Token (HTT) is the best-performing altcoin out of top-20 with over 4% of gains. HTT/USD is changing hands at $4.31. Tezos is losing ground. The coin is down over 3% on a day-on-day basis.