The bulls and bears continue to battle for dominance today, as shown by the 1.3% increase in the total market cap from $1.61 trillion to $1.62 trillion.
So far, the crypto heatmap shows us that the bears are winning on the major cryptocurrencies, while the bulls have most of the altcoins. This closely packed tug of war is shown more by the crypto market's liquidations over the last day.
According to Coinglass, $176 million has been taken from traders over the last day, with $76 coming from the bulls and $99 million coming from the bears.
This means that the fight between the bulls and the bears is a closely packed one, but the bulls have a slighter advantage today.
Bitcoin Makes New Higher High: But Not High Enough
According to the charts, Bitcoin has broken above its previous lower high of $43,473. This means that while Bitcoin currently trades at around $43,600, this high isn’t high enough.
To confirm a truly bullish stance from here, Bitcoin needs to break above the 8 December high of $44,700.
However, Bitcoin's recent higher high over the last day may be a good sign that we are about to see a breakout attempt, or at worst, a retest of $45,000.
Ethereum Remains Stuck
The bullishness from the rest of the crypto market doesn't seem to affect Ethereum, as the cryptocurrency continues to stall around $2,200 - $2,150.
This heaps reality on a possible break below $2,150 and a decline to $2,000 if the bulls fail to take action from here.
Keep An Eye Out For BAKE
BakeryToken or BAKE has been bullish for more than the last 24 hours.
The cryptocurrency has just recently broken through the $0.36 resistance and is facing some degree of consolidation around this point.
According to the charts, BAKE has the potential to reach anywhere between $0.41 and $1.45, depending on how much momentum the bulls are able to generate from here on out.
IOTX Is Still Green
IOTX made the list yesterday and is still green today. According to Binance, the cryptocurrency is up by about 28% over the last day and currently trades at about $0.0644.
IOTX’s growth has been explosive as of late, as shown by the chart above. However, the cryptocurrency is currently facing resistance after rallying straight up to $0.06424.
This means that if a breakout occurs from this zone, IOTX may continue further upwards and reach a high of around $0.086. However, take note. A steep decline awaits IOTX, should a price rejection come in at this point.
Possible Rally To $1.95 On Polkastarter (POLS)?
According to Binance, Polkastarter is up by about 23% over the last day and is ranked the 4th best-performing cryptocurrency on the exchange.
In the charts, we can see that Polkastarter just crossed the $1.24 resistance over the last day, and is in a consolidation phase.
At this point, the bulls and bears will decide on whether POLS continues further up by another 50% to the $1.95 price target, or down again to the $1 zone or lower.
