The cryptocurrency market was largely in a sea of red this week amid profit taking following recent stellar gains. Over the weekend, a reversal was in play, but the market continued to witness volatility.
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Avalanche, Crypto.com Lead Recovery: The cryptocurrency market is seeing a modest recovery heading into the weekend. Bitcoin is up modestly and is trading around the $58,000 mark.
The standouts among the altcoins are Crypto.com (CRYPTO: CRD), which is up over 4%, and Avalanche (CRYPTO: AVAX), which is advancing over 8%.
Meanwhile, Shiba Inu, which saw some strength on Friday, is pulling back, as it fails to convincingly break above a resistance around $0.000049. Doge has not gained much traction either.
As we head into the year-end, it remains to be seen whether cryptocurrencies can pick up the lost momentum and race to a record finish.
At last check, Bitcoin was up 0.12% at $57,882.43.
Avalanche was gaining 8.56% to $119.11.
Crypto.com was adding 4.39% to $0.549159.
Shiba Inu was retreating 10.76% to $0.000046.
Doge was moving down 2.23% to $0.227369.
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