Bitcoin did not move much but remained close to the $42,800 mark, while Ethereum remained comfortably above $2,550 levels amid nervous sentiment for the digital token market.
"On the last day, traders chose to book profits, causing Bitcoin to approach the $42,000 mark. However, a rapid bullish phase took over, pushing the price as high as $43,500 before settling just above below $43,000. Bitcoin's next challenge is at the $43,918 resistance level, while the previous support level stands at $42,510," said Edul Patel, CEO of Mudrex.
Other major crypto tokens traded mixed, with minor changes, on Wednesday. solarium, XRPCardano, Dogecoinand Chainlink were trading in the green, while BNBPolkadot, Tron, Toncoin, Polygon and Internet Computer were in the red.
In Wednesday's operations, the global market cryptocurrency The market capitalization increased by 0.22% to around $1.69 trillion in the last 24 hours. The total volume in DeFi is currently $4.75 billion, 8.17% of the total 24-hour volume of the crypto market. The volume of all stablecoins is now $52.84 billion, representing 90.95% of the total 24-hour volume of the crypto market.
Bitcoin dominance is currently 49.66%, according to CoinMarketCap. BTC volume in the last 24 hours increased by 14.88% to $23.89 billion.
Technical view by Rajagopal Menon, Vice President, WazirX
The BTC exponential moving average for a 10-day EMA indicates โSellโ at 43449, and a 200-day EMA indicates โBuyโ at 35079. The simple moving average for a 10-day SMA indicates โBuyโ at 44198 and a 200 EMA The Days SMA indicates โBuyโ at 33218.
The Relative Strength Index (14) stands at 48, indicating "Neutral." The Stochastic %K (14, 3, 3) at 18 and the Average Directional Index (14) at 15 indicate a Neutral outlook.
The MACD level (12, 26), at 105, indicates "Sell". The Fast Stochastic RSI (3, 3, 14, 14) at 20 indicates "Neutral", and the William Percentage at -82 indicates "Buy".
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