The cryptocurrency market is back in high spirits on Dec. 7 after the wider market bounced back from the Dec. 3 downturn in Bitcoin (BTC) price. Currently, bulls are aiming to send the price of BTC above the $52,000 support/resistance level and Ether (ETH) is trying to reclaim $4,400 but both assets are encountering push back at overhead resistance.
Even with BTC and ETH consolidating, traders' change of sentiment has been a boon for altcoins and many have seen gains in excess of 50% within the past 24-hours.