- Monday was profitable for several cryptocurrencies including Bitcoin.
- Bitcoin broke above resistance to inject an upside momentum into the crypto market.
- Solana and eCash followed Bitcoin, introducing fresh energy into the crypto market.
Monday, September 18, 2023, was profitable for several cryptocurrencies, with Bitcoin, the flagship crypto, leading the charge. After trading flat for the preceding weekend, Bitcoin broke above a local resistance to inject an upside momentum into the crypto market. A few other cryptos followed Bitcoin and made remarkable moves, introducing fresh energy into the crypto market as the year winds down.
Data from TradingView showed that Bitcoin opened trading on Monday at $26,527. A carryover of downward pressure from the weekend saw BTC fall slightly below the opening price to a daily low of $26,377. After the drop, Bitcoin rallied for most of the day, reaching a daily high of $27,409. With that move, Bitcoin crossed $27,000 for the first time in September 2023 and overcame an established resistance of around $26,850.
BTCUSD Daily Chart on TradingView
BTC consolidated before the trading day closed as the bears pushed the price down. The pioneer crypto’s price dropped below the resistance at $26,850 to close at $26,762. However, the upward rally seems to have resumed, with Bitcoin trading for $25,859 at the time of writing.
As is often the case, the Bitcoin rally dragged other notable coins in the crypto market. Solana, the famous blockchain protocol designed to facilitate decentralized applications (DApps) creation, followed in Bitcoin’s footsteps. Solana gained 7% of its opening value before a minor consolidation on Monday.
Solana opened the trading day at $18.81 and rose to a daily high of $20.15. It broke above a local resistance around the $19.50 price region. SOL’s price dropped slightly to $19.64 before the trading day closed but has resumed the newly found upward movement. SOL traded for $19.82 at the time of writing.
The rebranded Bitcoin Cash ABC, eCash, accompanied Bitcoin in the latest rally and even outperformed the flagship crypto. eCash gained 30% before consolidating and has since resumed the upward movement, like Bitcoin and Solana. At the time of writing, eCash traded for $0.00002659.
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