Bitcoin, dogecoin, other crypto prices today surge; ether rallies 10%, Solana up 19%
In cryptocurrencies, Bitcoin price today surged to trade above the $38,000 level. The world's most popular and largest cryptocurrency by market cap was up over 4% to $38,615. Bitcoin has slipped more than 16% since the start of this year (year-to-date or YTD), whereas it has nearly halved from its all-time high of $69,000 hit in November past 50%.
“Bitcoin edged past $38,000 with trading volumes picking up considerably as we saw a spike in the buying momentum over the last 24 hours. On the daily timeframe, the BTC trend continues to traverse within the descending channel pattern. BTC continues to remain in the oversold zone, however the RSI has almost doubled over the last ten days to edge closer to 40. A key support is expected at the $30,140 level," said Siddharth Menon, COO of WazirX.
On the other hand, Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, rose more than 10% to $2,758, as per CoinDesk. Similarly, Binance Coin gained 4% to $384.
"Ethereum continued to hold strong above $2,600. The hourly chart has given a breakout from the triangle pattern. The next resistance for ETH is expected around the $3,300 level. The demand for the Ethereum network has increased tremendously over the last 6 months with the hasrate reaching a new high amidst DeFi and NFT space gaining popularity," Menon added.
Dogecoin price also jumped over by 4% to $0.14 whereas Shiba Inu was trading more than 6% higher at $0.000022. The performance of other cryptos also improved as XRP, Stellar, Avalanche, Cardano, Solana, Polygon, Terra, Uniswap prices were trading with gains in the range of 4-19% over the last 24 hours.
Meanwhile, the global cryptocurrency market capitalisation today was down over 3% to $1.75
Read more on livemint.com
