Crypto Price Today: Bitcoin hold above $26,000; Shiba Inu, BNB surge over 3%

Synopsis

Bitcoin dropped to trading around the $25,600 level before consolidating to trading above the $26,000 level. Ethereum has been trading above the $1600 level. Meanwhile, Balancer, One of Ethereum’s top decentralized crypto trading projects, dropped nearly $100 million after discovering a critical vulnerability, said Edul Patel, CEO & Co-Founder of Mudrex.

Crypto Price Today: Bitcoin hold above $26,000; Shiba Inu, BNB surge over 3%  0ET Bureau &

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Explore NowThe crypto tokens were trading mixed in Wednesday’s trade. Ethereum, Cardano, Litecoin and Solana were trading with cuts, while Bitcoin, BNB, Tron, and Shiba Inu were trading with gains.

Meanwhile, the global cryptocurrency market cap was trading lower, around $1.05 trillion, falling 0.20% in the last 24 hours.

Bitcoin dropped to trading around the $25,600 level before consolidating to trading above the $26,000 level. Ethereum has been trading above the $1600 level. Meanwhile, Balancer, One of Ethereum’s top decentralized crypto trading projects, dropped nearly $100 million after discovering a critical vulnerability, said Edul Patel, CEO & Co-Founder of Mudrex.

The market cap of Bitcoin, the world’s largest cryptocurrency, was around $507 billion. Bitcoin’s dominance is currently 48.37%, an increase of 0.13% over the day, according to CoinMarketCap.

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View Details »BTC volume stood at approximately $15.31 billion, rising 18.5% in the last 24 hours.

“Bitcoin is facing resistance at $26,200, which is marked by bearish patterns and a potential drop to $25,200. Conversely, a break of the $26,200 resistance could target $26,800, with bullish momentum eyeing $27,600. Below $25,200, significant losses could lead to a potential low of $24,800,” Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said.

Rajagopal Menon, Vice President at WazirX, said, “Major market oscillators point toward a Neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 21, with a buy outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 14 and 31, respectively, further indicating a Neutral market.”

“The MACD Level (12, 26) at -930 indicates a Sell. The Stochastic RSI Fast (3, 3, 14, 14) is at 6 with a Neutral indicator, while the Williams Percent Range (14) at −84 signals Neutral,” Menon added.

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.16 hours, IST on August 23, 2023)

Bitcoin $26,112 0.29%
Ethereum $1,644 -1.01%
Tether $0.9995 -0.02%
BNB $215.5 3.27%
XRP $0.5198 0.64%
Cardano $0.2599 -0.25%
Dogecoin $0.06308 0.32%
Solana $20.85 -0.75%
Polygon $0.5584 2.14%
Litecoin $65.29 -1.28%
Polkadot $4.43 0.28%
Tron $0.07661 2.42%
Shiba Inu $0.000008213 3.75%

(Note: Price change in last 24 hours)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Updated: 08/23/2023 — 06:00

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