Cryptocurrencies edged higher on Thursday, reversing most losses from the previous session. The global crypto market cap stood at $858.1 billion, with a volume of nearly $37.1 billion in the past 24 hours.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, rose 2.6 percent to $17,252. Its market value stood at $331 billion. The trade volume was at $20.5 billion. The token has gained 1.2 percent in the last seven days.
“The price of Bitcoin consolidated above the $17,000 level forming a new resistance zone. BTC’s immediate support lies at $17,100, while the resistance holds at $17,280 and then $17,400. If BTC fails to clear the resistance, there could be a fresh bearish reaction,” said Edul Patel, CEO and Co-Founder of Mudrex.
Ethereum | The second largest virtual currency, Ethererum or Ether, jumped 4.5 percent to $1,282.6 with a market capitalisation of $156.2 billion. The trade volume of Ethereum was $6.2 billion in the last 24 hours.
On Ethereum, Patel said, “On the other hand, Ethereum is trading at the $1,281 level. Further growth is possible only if the rate gets to the $1,300 area and fixes there.”
Dogecoin | Meme-based virtual currency, Dogecoin, rose three percent on Friday. Its market value stood at $13 billion. The trade volume was at $487.9 million.
Solana | Solana rose 2.2 percent to $13.7 with a market capitalisation of $5 billion. The trade volume of Solana was $187.8 million in the last 24 hours.
Shiba Inu | Shiba Inu increased nearly two percent with a market capitalisation of $5.1 billion. The trade volume was $93.1 million in the last 24 hours.
Polygon | Polygon jumped 3.7 percent to almost $0.9 with a market capitalisation of $8.1 billion. The trade volume was $268.8 million in the last 24 hours.
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