Bitcoin (BTC) fell 0.71% to $27,805, whereas Ethereum (ETH) was just above the $1,900 level. BTC volume stood at approximately $12.73 billion, falling 20.53% in the last 24 hours.
“Bitcoin price started a decent increase above the US$28,000 resistance zone on Monday. However, it has since declined by over 1% and is trading at the US$27,700 level. An upside break above US$28,000 might send the price toward BTC’s next resistance at US$28,500. If BTC’s price fails to clear the US$28,000 renaissance, it could continue to move downwards towards US$27,580,” Edul Patel, Co-founder and CEO at Mudrex, said.
The total volume in DeFi is currently $2.24 billion, 8.05% of the total crypto market 24-hour volume. The volume of all stablecoins is now $25.50 billion, which is 91.76% of the total crypto market 24-hour volume.
The global cryptocurrency market cap was trading lower around $1.16 trillion, falling 0.43% in the last 24 hours.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $539 billion. Bitcoin’s dominance is currently 46.54%, a decrease of 0.16% over the day, according to CoinMarketCap.
“The current market price of Bitcoin is around $28,000, while the 50-day EMA is placed at $27,700, indicating an overbought market. If Bitcoin fails to break above $28,300, investors could engage in short selling targeting a drop to $27,500 and potentially further to $27,000,” Sathvik Vishwanath, Co-Founder & CEO of Unocoin said.”However, if Bitcoin breaks above $28,300 and closes above it, investors may consider taking long positions with the aim of reaching the initial resistance level at $29,000 and potentially $29,450,” Sathvik added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.27 hours, IST on May 30, 2023)
Bitcoin $27,805 -0.71%
Ethereum $1,902 -0.04%
Tether $1.00 -0.02%
BNB $312 -0.87%
XRP $0.5003 4.19%
Cardano $0.3811 0.15%
Dogecoin $0.07268 -0.87%
Polygon $0.9067 -2.66%
Solana $20.84 0.34%
Litecoin $91.41 0.07%
Polkadot $5.47 -0.49%
Tron $0.07637 -1.47%
Shiba Inu $0.000008694 -1.13%
(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)