By: Swastika Das Sharma
News18.com
Last Updated: July 20, 2022, 14:28 IST
New Delhi, India
The global crypto market cap on the other hand rallied by 4.36 per cent to scale $1.06 trillion
Cryptocurrency Price Today: The cryptocurrency market finally seemed to gain its lost ground as investors came out of the extreme fear zone, to put their trust back in crypto coins. Bitcoin scaled its one-month high again for the second time in a row, with the world’s largest crypto token edging past the $23,000 mark, The global crypto market cap on the other hand rallied by 4.36 per cent to scale $1.06 trillion, with major cryptocurrencies including Bitcoin, Ether, Cardano and Dogecoin gaining up to 14 per cent in a day.
Bitcoin price today was standing at $23,437.33 while writing this article, up by 7.36 per cent in the past 24 hours. Over the last seven days, Bitcoin price has surged by 18.01 per cent, data from CoinMarketCap showed on the day.
“Bitcoin rallied by nearly 5 per cent yesterday to edge above the $23,000 level for the first time since over a month. The MACD has climbed above the “0” level, indicating the start of a bearish cycle as trading volumes picked up on exchanges. On the daily time-frame, the BTC trend has broken out of the descending triangle pattern. The next key resistance level for BTC is expected at $32,300,” said analysts at the WazirX trade desk.
“The weekly RSI had dipped below 30 earlier and has now started to move higher away from that level. Historically, whenever the weekly RSI had approached 30, Bitcoin has made a turnaround and an upward rally has followed as buyers have made a comeback. We can see a similar instance being repeated now, as BTC seems to be on a bullish uptrend,” they added.
“Bitcoin and Ethereum continued to hover for another consecutive day. BTC has retested the US$23,000 level after weeks of trading between US$17,000 and US$21,000. The following critical level of BTC would be at US$25,000,” noted Edul Patel, co-founder and CEO of Mudrex.
On the other hand, Ether prices have surged by as much as 42.79 per cent over the past seven days. Ethereum price today at the time of writing this article was giving a value of $1,536.65, up by 0.58 per cent over the last 24 hours. Meanwhile, Dogecoin gained over 14 per cent in the last 24 hours while writing this article.
“While on the other hand, Ethereum has soared more than 45 per cent over the past week, outperforming the market. There might be many reasons for the surge, but one of the prominent reasons could be the Merge. The market’s overall momentum appears bullish as investors’ sentiment continues to rise,” said Patel.
Here are the top 10 cryptocurrencies and their prices on July 19 2022, Tuesday, (According to data from coinmarketcap.com)
Bitcoin $23,437.33 or 7.36 per cent gain in the last 24 hours
Ethereum $1,536.65 or 0.58 per cent gain in the last 24 hours
Tether $1.00 or 0.02 per cent gain in the last 24 hours
USD Coin $0.9996 or 0.03 per cent loss in the last 24 hours
BNB $267.14 or 2.82 per cent gain in the last 24 hours
XRP $0.3714 or 4.51 per cent gain in the last 24 hours
Cardano $0.5264 or 8.93 per cent gain in the last 24 hours
Binance USD $0.9985 or 0.26 per cent loss in the last 24 hours
Solana $44.41 or 1.13 per cent gain in the last 24 hours
Dogecoin $0.07414 or 14.11 per cent gain in the last 24 hours
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About the Author
Swastika Das Sharma, Subeditor at News18.com, has been part of digital media since 2020. She has completed her post-graduation from Asian College of J…Read More
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