Ethereum and the sister altcoins experienced noteworthy price gains in the last 24 hours. However, the big brother Bitcoin struggled to cross the resistance at $11,000.
After a few “no recovery” months, the leading altcoins exhibited better signs of recovery than Bitcoin. This happened to Ethereum’s price after week-long bleeding. The gains surpassed the community expectation as it exhibited 6.4% gains at the time of press.
All the while Bitcoin maximalists had to stay happy with a slight correction of 1.3%. Sadly enough, that could not push Bitcoin price over the $11,000 fence. Hopes were high to cross the $11,000 mark as the coin touched $10,521 at 12:30 GMT.
That said, Ethereum traders rejoiced the 6.4% price recovery. After massive slamming by Bitcoin maximalists the entire last week, it was a welcome change. And this pushed the price to $181.16 at press time. Earlier this week, Ethereum announced that the Istanbul hard fork was pushed to October. Prior to the announcement, the major protocol and scalability update under the Istanbul fork was scheduled for September.
Having sunk from $1,725(2017) to current $1,80 Ethereum experts stated that it has bottomed. But these signs of positive resistance contend the philosophy.
Another noteworthy recovery happened with Ripple. The token surged up by 4.83% after falling off the LinkedIn’s “The 50 hottest U.S. companies to work for” 2019 list.
Several other altcoins that exhibited signs of recovery were Litecoin (7.50%), EOS (12.22%), NEO (2.73%), BCH (6.29%) and the list is long.
What catalyzed these gains is yet not clear but this was a weird day for altcoins.