Altcoins pump while traders anticipate a lower support test from Bitcoin

(BTC) bulls are locked in a battle with bears in order to take control of the $40,000 level and dovish comments from U.S. Federal Reserve Chair Jerome Powell suggest that loose monetary policies will remain in place for the foreseeable future.

Generally, the crypto ecosystem is “cautiously optimistic” about further price rises as the fallout from China’s miner purge begins to subside and displaced miners begin to establish mining operations in other countries, resulting in a rebound of the Bitcoin hash rate.

Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro
VORTECS™ Score (green) vs. RUNE price. Source: Cointelegraph Markets Pro
VORTECS™ Score (green) vs. QNT price. Source: Cointelegraph Markets Pro
VORTECS™ Score (green) vs. PERP price. Source: Cointelegraph Markets Pro