“Bitcoin fell to $24,000 early Wednesday following US consumer confidence data. However, it has rallied back to the $23,500 level. BTC is up more than 1% in the last 24 hours. But BTC It still seems to be a bit weak and will have to pick itself up to make a sharp move in the next few days," said Edul Patel, co-founder and CEO of Mudrex.
ETH's immediate support is at the $1,600 and $1,550 levels, while resistance remains at the $1,670 level, Edul added.
Other major crypto tokens were also trading lower. Shiba Inu decreased by 2.3%. Solana, Polkadot, Cardano and BNB were also trading on haircuts. The global cryptocurrency market capitalization was trading lower around $1.07 trillion, falling 0.73% over the past 24 hours.
The total volume in DeFi is currently 5.15 billion, 10.95% of the total 24-hour volume of the crypto market. Volume across all stablecoins is now at $40.71 billion, representing 90.89% of the crypto market's total 24-hour volume.
The market capitalization of Bitcoin, the world's largest cryptocurrency, was around $454.52 billion. Bitcoin dominance is currently at 42.31%, down 0.11% over the day, according to CoinMarketCap.
Rajagopal Menon, Vice President of WazirX, said: "Leading market indicators point to neutral sentiment. The Relative Strength Index (14) stands at 52.25, with a neutral outlook. The Stochastic %K (14, 3, 3) and the average directional index The index (14) is at 32.18 and 29.60 respectively, which also indicates a neutral market." “The MACD level (12, 26), at 277.20, indicates a sell. 14.46 with a neutral indicator, while the Williams (14) percentage range at −71.81 also indicates neutral,” Menon added.
Crypto Cart: Fast Look (Fountain: coinmarketcap.comdata as of 10:43 a.m. IST 02 Mar 2023)
Bitcoin $23,551 -1.03%
Ethereum $1,648 -0.29%
Mooring $1 -0.01%
BNB $300.22 -1.83%
XRP $0.3797 -0.43%
dogecoin $0.08115 -1.49%
Cardano $0.3574 -1.54%
Polygon $1.23 -1.78%
Polka dots $6.42 -2.24%
Tron $0.06978 -0.15%
Litecoin $97.26 0.05%
Shiba Inu $0.00001205 -2.34%
Solana $22.09 -2.15%
(Note: price change in the last 24 hours)
(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are my own. These do not represent the views of The Economic Times)
