- Most cryptocurrencies’ prices traded sideways for another consecutive day
Cryptocurrency prices today rose as the world’s largest and most popular digital token Bitcoin’s price today was trading almost flat with positive bias at $20,533. The crypto market’s recent sideway price actions are related to the upcoming macroeconomic events across the global markets, as per experts.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also surged by nearly a per cent to $1,591.
“Most cryptocurrencies traded sideways for another consecutive day. Bitcoin has been trading steadily above the $20,500 level in the past few days. If the BTC can maintain a consistent gains above the $20,500 level, the next resistance would be at the $21,000. If it fails to retain the gains, we might see BTC falling to the $20,000 level. The second largest cryptocurrency, Ethereum, has also been trading sideways in line with BTC. ETH has gained more than 8% in the past seven days. If ETH can break above the $1,600 level today, we might see it trade at the $1,700 level in the coming week. On the other hand, Dogecoin remained the biggest gainer on Tuesday, gaining more than 13% over the previous day. However, there are fewer chances that the coin would rise further as it has already grown a lot until now,” said Edul Patel, CEO and Co-founder, Mudrex.
Meanwhile, dogecoin price today was trading more than 11% higher at $0.14 whereas Shiba Inu was also about 3% up to $0.000012. Dogecoin has gained 100% this past week, far exceeding the advances of the world’s two largest tokens, Bitcoin and Ethereum.
Other crypto prices’ today performance were mixed as Binance USD, Chainlink, Tether, Cardano, Polygon, XRP, Terra, Tron, Litecoin, Uniswap prices were trading with gains over the last 24 hours whereas ApeCoin, Avalanche, Polygon, Polkadot, Solana, Stellar plunged.
The global crypto market cap today remained above the $1 trillion mark, even as it was almost flat in the last 24 hours at $1.06 trillion, as per CoinGecko.
(With inputs from agencies)
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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