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(*24*)The cryptocurrency market carried out excellently over the previous 24 hours as main cash and tokens recovered from their current losses. 

The cryptocurrency market recorded enormous losses last week, with billions of {dollars} worn out from the main cash and tokens. The complete market cap dropped beneath the $1 trillion mark for the first time this yr every week in the past.

Despite the current bearish efficiency, the crypto market carried out effectively over the weekend. The cryptocurrency market is up by more than 8% in the last 24 hours, with the complete market cap now round $900 billion.

Bitcoin, the world’s main cryptocurrency, is buying and selling above $20k once more after dropping in direction of the $17k assist degree just a few days in the past. Meanwhile, Ether maintains its value above $1,100 after including more than 9% to its worth in the last 24 hours.

BNT, the native token of the Bancor ecosystem, is underperforming the broader market at the second. BNT is up by 2% in the last 24 hours, which is beneath the complete market common at the second. 

The poor efficiency could be attributed to the Bancor staff announcing earlier on Monday that it has briefly paused Impermanent Loss (IL) Protection resulting from the present market situations. As a outcome, withdrawals carried out throughout this unstable interval won’t be eligible for IL safety, the staff added. 

Key ranges to look at 

The BNT/USD 4-hour chart is nonetheless bearish regardless of BNT at the moment buying and selling in the inexperienced zone. 

The MACD line is beneath the impartial zone, indicating a bearish pattern. The 14-day RSI of 41 reveals that BNT is not in the oversold area. 

At press time, BNT is buying and selling at $0.530. If the constructive efficiency continues, BNT may surge previous the $0.61 resistance degree over the coming hours. However, it might want the assist of the broader market to rally previous the $0.82 resistance degree.