crypto price today: Crypto Price Today: Bitcoin holds above $30,200; Cardano, Litecoin tank over 3%

Synopsis

Bitcoin fell by 2% to $30,221 on Monday, and Ethereum was trading below $1,900, reflecting a decline in the cryptocurrency markets. Despite a positive investor sentiment, the key challenge for Bitcoin is to maintain its position above the crucial US$30,000 level, according to Edul Patel, the CEO at Mudrex. The market cap of Bitcoin, currently around $586bn, was trading lower around $1.18tn, leading to a decrease of 2% in the global cryptocurrency market cap in the last 24 hours. Other top cryptocurrencies like Litecoin, Cardano, and Polygon declined over 3% each.

crypto price today: Crypto Price Today: Bitcoin holds above $30,200; Cardano, Litecoin tank over 3%  0

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Explore NowThe cryptocurrency markets were majorly trading in the red on Monday. Bitcoin (BTC) fell 2% to $30,221, whereas Ethereum (ETH) was below the $1,900 level. BTC volume stood at approximately $13.19 billion, rising 5.23% in the last 24 hours.

“Bitcoin soared to a one-year high, surpassing the US$31,000 mark on Friday. However, it has since entered a consolidation phase, stabilizing around the US$30,000 level within the past 24 hours,” Edul Patel, Co-founder, and CEO at Mudrex, said.

“With a notable increase of over 14% in the last seven days, Bitcoin has garnered positive investor sentiment. The key challenge for Bitcoin is to maintain its position above the crucial US$30,000 level, which could potentially trigger further upward movement. BTC’s support level is currently set at US$29,500,” Edul added.

Other top crypto tokens were also trading in the red. Cardano, Litecoin, and Polygon declined over 3% each. The global cryptocurrency market cap was trading lower, around $1.18 trillion, falling 2% in the last 24 hours.

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View Details »The market cap of Bitcoin, the world’s largest cryptocurrency, was around $586 billion. Bitcoin’s dominance is currently 49.90%, a decrease of 0.13% over the day, according to CoinMarketCap.

“With Bitcoin hovering around $30,184, market participants are closely watching the key psychological support level of $30,000. A break below this level could potentially push Bitcoin towards the $28,250 mark, signaling a bearish trend. Conversely, a break above the $31,250 resistance level could expose Bitcoin to higher price territories such as $32,000 or even $34,150,” Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said.

Rajagopal Menon, Vice President at WazirX, said, “The Exponential Moving Average of BTC for 10-day EMA indicates Buy at 29,234 and 200-day EMA indicates Buy at 25661. The Simple Moving Average for 10-day SMA indicates Buy at 28,984, and 200-day SMA indicates Buy at 24,384.”

“The Ichimoku Base Line, valued at 28107, continues to be neutral. The Hull Moving Average indicates Sell at 31,111. The Volume Weighted Moving Average indicates Buy at 27786,” Menon added.

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.39 hours, IST on June 26, 2023)

Bitcoin $30,221 -2.13%
Ethereum $1,878 -1.65%
Tether $0.9999 0.01%
BNB $235 -1.23%
XRP $0.484 -1.13%
Cardano $0.2869 -3.20 .//// %
Dogecoin $0.06574 -2.64%
Solana $16.78 -1.27%
Polygon $0.654 -2.77%
Litecoin $87.02 -3.13%
Polkadot $5.12 -0.42%
Tron $0.073 0.24%
Shiba Inu $0.00000772 -2.56%

(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: 06/26/2023 — 05:00

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