“The release of the FOMC minutes on Wednesday could affect the price of Bitcoin, as any hint of a change in US monetary policy may affect financial markets. Bitcoin is currently trading in a range of $23,700 to $25,200 with another resistance level at $25,200.Indicators such as RSI and MACD are diverging, indicating uncertainty among investors.If the price breaks below the support level of $23,750, the next support level is of $22,850," said Sathvik Vishwanath, co-founder and CEO of Unocoin.
The global cryptocurrency market capitalization was trading higher at around $1.13 trillion, up 1.09% over the past 24 hours.
Total volume in DeFi is currently $7.57 billion, 12.20% of the total 24-hour volume of the crypto market. Volume across all stablecoins is now at $55.01 billion, representing 88.73% of the total 24-hour volume of the crypto market.
The market capitalization of Bitcoin, the world's largest cryptocurrency, was around $481 billion, with a dominance of around 42.56%, up 0.30% over the day, according to CoinMarketCap.
"Leading market indicators continue to point to neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 66.86, with a neutral outlook. The Stochastic %K (14, 3, 3) and The Directional Average Index (14) is at 86.21 and 38.88, respectively, indicating a neutral market," said Rajagopal Menon, Vice President of WazirX.
“The MACD level (12, 26), at 787.32, indicates a buy. The Fast Stochastic RSI (3, 3, 14, 14) is at 86.04 with a neutral indicator, while the Williams percentage range (14) at - 5.34 also signals neutral," Menon added. Crypto Cart: Quick Look (Fountain: coinmarketcap.comdata as of 11:25 a.m. IST 21 Feb 2023)
Bitcoin $24,955 1.91%
Ethereum $1,700 0.70%
Mooring $1 -0.01%
BNB $315.21 -0.32%
XRP $0.3982 1.75%
dogecoin $0.08793 0.21%
Cardano $0.4023 -0.22%
Polygon $1.47 -1.45%
Polka dots $7.46 -0.05%
Tron $0.07179 0.95%
Litecoin $95.60 -2.57%
Shiba-Inu $0.00001352 0.52%
Solana $25.88 -2.33%
(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)
