Crypto Price Today: Bitcoin rises above $30,400; Polygon, BNB jump up to 9%

Synopsis

Bitcoin rose 1.23% to $30,476, while Ethereum climbed above $1,850. BTC volume in the last 24 hours reached approximately $14.59 billion, a rise of 66.55%. Giottus Crypto Platform CEO Vikram Subburaj said, “Breaching key resistance at $32,400 will be the eventual target before a sustained rally is possible.” Meanwhile, the global cryptocurrency market cap hit around $1.19tn, a rise of 1.45% in the last 24 hours, while the market cap of Bitcoin was at $593bn, and its dominance was sitting at 49.88%, a decline of 0.11% over the day, according to CoinMarketCap.

Crypto Price Today: Bitcoin rises above $30,400; Polygon, BNB jump up to 9%  0ETMarkets.com

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Explore NowThe cryptocurrency market was trading higher on Tuesday, with Bitcoin (BTC) rising 1.23% to $30,476, while Ethereum was above the $1,850 level.

Meanwhile, BTC volume in the last 24 hours stood at approximately $14.59 billion, rising 66.55% in the last 24 hours.

“Bitcoin continues to consolidate above $30,000 with a quick move towards $31,000 earlier today followed by a quick pullback. BTC is likely to make an attempt to reclaim the level again. Breaching key resistance at $32,400 will be the eventual target before a sustained rally is possible,” Vikram Subburaj, CEO of Giottus Crypto Platform, said.

“Ether is currently facing resistance at the 20-day exponential moving average ($1,871) while the bulls are attempting to defend the 50-day simple moving average ($1,841). This struggle between buyers and sellers indicates a lack of clear momentum in the market,” said the ZebPay Trade desk.

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View Details »Other top crypto tokens were also trading higher on Monday. BNB, Polygon, Solana, and Litecoin surged up to 9%. The global cryptocurrency market cap was trading higher, around $1.19 trillion, rising 1.45% in the last 24 hours.

The total volume in DeFi is currently 2.14 billion, 6.62% of the total crypto market 24-hour volume. The volume of all stablecoins is now $30.02 billion, which is 93.04% of the total crypto market 24-hour volume.

The market cap of Bitcoin, the world’s largest cryptocurrency, was around $593 billion. Bitcoin’s dominance is currently 49.88%, a decrease of 0.11% over the day, according to CoinMarketCap.

Examining the 4-hour time frame, it is clear that Bitcoin is encountering significant resistance at the $30,500 level, reinforced by the double top pattern and the 50-day exponential moving average, Sathvik Vishwanath, Co-Founder & CEO, Unocoin, said.

“Conversely, the $30,000 level serves as strong support, supported by a well-defined trend line. This trend line is expected to resist bearish momentum and prevent a substantial decline,” Sathvik added.

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.59 hours, IST on July 11, 2023)

(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: 07/11/2023 — 05:00

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