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EOS and YFI lead altcoins higher as Bitcoin and Ether bounce from swing lows

Published 05/11/2021, 06:13 PM
Updated 05/11/2021, 08:00 PM
EOS and YFI lead altcoins higher as Bitcoin and Ether bounce from swing lows

The markets were mixed on May 11 as Bitcoin (BTC) recovered from Monday's drop to $53,000 by bouncing to $56,862 but the digital asset is still finding resistance at the $57,000 level.

Ether (ETH) also worked its way back above $4,100 but according to Cointelegraph analyst Marcel Pechman, the bullish sentiment for Ether seen in recent weeks has begun to fade as traders question whether new all-time highs will be sustainable in the short term.

BTC/USDT 4-hour chart. Source: TradingView
ETH/BTC 4-hour chart. Source: TradingView
Daily cryptocurrency market performance. Source: Coin360

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