Top cryptocurrency prices today: Bitcoin, Dogecoin, Cardano rally 5% each

New Delhi: Major cryptocurrencies continued to gain on Tuesday with Bitcoin climbing new peaks for life. Other altcoins followed as investors' focus shifted to the digital spectrum over gold.

Except for the dollar-pegged stablecoins and Solana, the other seven of the top 10 cryptocurrencies were trading higher as of 9.30am IST. Bitcoin, Cardano and Dogecoin added 5 percent each.

The global crypto market capitalization jumped more than 3 percent, to $ 2.94 trillion compared to last day. However, the total volume of the cryptocurrency market increased 27 percent to $ 123.51 billion.

Bitcoin and Ether hit record peaks in Asian trading on Tuesday, as enthusiasm for cryptocurrency adoption and fears over inflation lent support to the asset class.

Bitcoin skyrocketed in the past 2 days after the DCG founder's tweet ripped the covers off the asset, sending it to new lifetime highs. The rally was broad, with major tokens leading the way, ZebPay Trade Desk said.

"We anticipate that a good amount of volatility will persist over the next few days as the market appears to be a bit inflated at the moment, and some correction is certainly anticipated. If that happens, gains are likely to accrue," he added. added.

Rising demand for Ethereum has sparked a rally at its biggest competitor, Solana, which has delivered spectacular returns in the current calendar year.

Meanwhile, the market for non-fungible tokens (NFT), a type of crypto asset in which each token is completely unique, is on the mend in India with various celebrities like Amitabh Bachchan, Kamal Haasan, and Salman Khan coming onto the market. car.

Giottus Cryptocurrency Exchange Technical View
Many celebrity endorsed NFTs and fan tokens are based on Chilliz (CHZ). The blockchain network targeting retail consumers has pioneered this category of crypto, introducing fan tokens, loyalty coins, and NFTs in a year in which the concepts have taken the world by storm. Chiliz offers sports and entertainment brands blockchain tools to monetize and improve engagement.

The platform's token, CHZ, has reflected the increase in demand for this category. This year it hit several all-time highs before a September correction pushed its value to $ 0.25. Now after a nearly 100% surge you have been in consolidation in the $ 0.44- $ 0.5 range for a considerable amount of time and appear to be on the verge of a breakout, post your repeated tests of support levels at $ 0.46 and $ 0.4- $ 0.42.

** Chart-CHZ **

CHZ shows a bullish divergence in its Relative Strength Index (RSI) as it completes a symmetrical triangle since early November. A breakout to the upside will bring $ 0.49, $ 0.52 and $ 0.56 resistances up for grabs.

The consolidation so far is encouraging and with other indicators lining up for a bullish formation, the CHZ is likely to test its $ 0.65 ATH again. If it continues to break to the upside, a new ATH of $ 0.72 can be reached over the next several weeks based on the targets of the symmetrical triangle. For long-term investors, $ 1 is up for grabs.

Higher levels
Support: $ 0.46, $ 0.42, $ 0.4

Resistance: $ 0.49, $ 0.52, $ 0.56

(The time is in UTC and the daily time frame is 12:00 am to 12:00 pm UTC)

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