Prime Cryptocurrency Costs In the present day: XRP, Dogecoin Falling; Solana wins 16% – Financial Occasions

Advertisements

New Delhi: Major cryptocurrencies extended their losses on Friday as investors continued to make gains in digital tokens. Eight of the top 10 cryptocurrencies were red at 9:30 a.m. IST. However, Solana rose 16 percent.

Global crypto market cap was below the $ 2 trillion mark, down 3 percent from the previous day. Similarly, the total crypto market size fell about 4 percent to $ 109.12 billion.

Bitcoin’s breakout above the $ 50,000 mark didn’t last long, and the chart patterns signal that its rally has been threatening to fade since July. The decline reduced Bitcoin’s rally to around 60 percent from a July low.

“On the last day, the majority of the coins were in red due to the sell-off with the exception of Solana. Despite the decline, market capitalization is nearly $ 2 trillion, ”said Sharan Nair, chief business officer, CoinSwitch Kuber.

The crypto markets are currently in a difficult position due to the lack of strong support. The last 24 hours have been characterized by high volatility. The entire market felt the shock of that volatility with a similar sell-off across the spectrum. Markets are likely to remain unstable for the next 24 hours, said Edul Patel, CEO and co-founder of Mudrex.

Tech View from ZebPay Trade Desk
Options worth $ 800 million expire today, which could affect the price of ETH. The ETH rally fueled the congestion in its network, which led to higher gas charges and further strains the network. This could be the reason why, despite the inflows, ETH hasn’t seen a rally as big as its close rivals like Solana or Cardano. At this point, the network appears to have become its own worst enemy, as its increased adoption has contributed significantly to the surge in decentralized financial applications and the growth of competitors.

ETH created a “double bottom” or “W” pattern at $ 1,720 with a cutout of $ 2,400. The asset resisted around these levels a few times, but once it broke the bulls took the opportunity with both hands and hit a high of $ 3,380, which rose nearly 96.5%.

Currently, the asset is resisting at a crucial $ 3,350 level (61.8% Fibonacci retracement level) and trading in a broad range from $ 3,350 to $ 2,975. Breakouts on either side with good volume will continue to set the trend for the asset.

Main stages:

Support: $ 2,950, $ 2,650

Resistance: $ 3,400, $ 3,850

The time is in UTC and the daily time frame is 12:00 PM – 12:00 PM UTC


(The views and recommendations in this section are the analysts’ own views and recommendations and do not reflect those of ETMarkets.com. Please consult your financial advisor prior to entering into any position in any of the above assets.)


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Begin Your Crypto Investing Journey With 100x Potential Gems: Gnox (GNOX), Shiba Inu (SHIB), And Dogecoin (DOGE) – TechCabal Dogecoin

Begin Your Crypto Investing Journey With 100x Potential Gems: Gnox (GNOX), Shiba Inu (SHIB), And Dogecoin (DOGE) – TechCabal

Who doesn't want that 100X gem? It is one of the reasons most people...

By wpadminsonic164
18.8 Million Dogecoin Bought by Whale with 40 Million XRP – U.Today Dogecoin

18.8 Million Dogecoin Bought by Whale with 40 Million XRP – U.Today

A large BNB whale, "Martian Manhunter," ranked 71st according to WhaleStats and holds 40...

By wpadminsonic164
Filecoin (FIL) and Dogecoin (DOGE) Keep Falling as Chronoly (CRNO) Surges 500% During Pre-Sale – TechCabal Dogecoin

Filecoin (FIL) and Dogecoin (DOGE) Keep Falling as Chronoly (CRNO) Surges 500% During Pre-Sale – TechCabal

The cryptocurrency bear market continues with Bitcoin trading below $21,000 and these are prices...

By wpadminsonic164
Who is Big Eyes (BIG)? The Cat Daring to Take On Dogecoin (DOGE) – The VR Soldier Dogecoin

Who is Big Eyes (BIG)? The Cat Daring to Take On Dogecoin (DOGE) – The VR Soldier

We're familiar with the dogs of Dogecoin (DOGE) other Shiba Inu (SHIB)beloved by the...

By wpadminsonic164
Enormous Eyes (BIG), Dogecoin (DOGE), and ApeCoin (APE) Build an Animal Kingdom of Meme Coins | Bitcoinist.com – Bitcoinist Dogecoin

Enormous Eyes (BIG), Dogecoin (DOGE), and ApeCoin (APE) Build an Animal Kingdom of Meme Coins | Bitcoinist.com – Bitcoinist

The cryptocurrency market is evolving in the most creative and innovative ways. The crypto...

By wpadminsonic164
1.7 Million Dogecoin Shifted Anonymously for Fees Unimaginable for Banks – U.Today Dogecoin

1.7 Million Dogecoin Shifted Anonymously for Fees Unimaginable for Banks – U.Today

Yuri Molkhan Nearly 2 million DOGE have been shifted by anonymous wallets today content...

By wpadminsonic164
Shiba Inu, Dogecoin Accepted for Payment by Food Delivery Company Uber Eats – U.Today Dogecoin

Shiba Inu, Dogecoin Accepted for Payment by Food Delivery Company Uber Eats – U.Today

Shiba Inu and Dogecoin holders can now pay for Uber Eats food deliveries with...

By wpadminsonic164
Dogecoin

Dogecoin, Shiba Inu Look Ready to Retrace – Crypto Briefing

Key takeaways Dogecoin has risen by nearly 47% over the past ten days. Shiba...

By wpadminsonic164

Latest Posts

Begin Your Crypto Investing Journey With 100x Potential Gems: Gnox (GNOX), Shiba Inu (SHIB), And Dogecoin (DOGE) – TechCabal Dogecoin

Begin Your Crypto Investing Journey With 100x Potential Gems: Gnox (GNOX), Shiba Inu (SHIB), And Dogecoin (DOGE) – TechCabal

Who doesn't want that 100X gem? It is one of the reasons most people...

By wpadminsonic164
Cardano testsnet effectively hard forked however here’s a place of concern – AMBCrypto News Cardano

Cardano testsnet effectively hard forked however here’s a place of concern – AMBCrypto News

Input Output Global (IOG) had earlier informed members of the Cardano ecosystem of the...

By wpadminsonic164
Why Market Crash ?🚨 Crypto News Today | Why Crypto Market Going Down Today Videos

Why Market Crash ?🚨 Crypto News Today | Why Crypto Market Going Down Today

Why Market Crash ? Crypto News Today | Why Crypto Market Going Down Today...

By wpadminsonic164
Emily Elizabeth Leaves Massive Chest Hanging In Tiny Polka Dot Bikini – The Blast Polkadot

Emily Elizabeth Leaves Massive Chest Hanging In Tiny Polka Dot Bikini – The Blast

Emily Elizabeth spills out of her bikini once again! The influencer recently delighted her...

By wpadminsonic164
Solid Altcoins to Look Into During the 2022 Bear Market – Neo (NEO), Kusama (KSM) and Mushe Token (XMU) – Cryptopolitan Stellar

Solid Altcoins to Look Into During the 2022 Bear Market – Neo (NEO), Kusama (KSM) and Mushe Token (XMU) – Cryptopolitan

Anyone that has been around the crypto industry long enough is no stranger to...

By wpadminsonic164
São Paulo court freezes records of Binance contact to Brazilian banks – The Brazilian Report Binance

São Paulo court freezes records of Binance contact to Brazilian banks – The Brazilian Report

Jul 04, 2022 16:06 2 min read The top state-level court in São Paulo...

By wpadminsonic164
Cardano Vasil Hard Fork is Now ‘Unavoidable’ after ‘Fruitful’ Testnet – Cryptonews Cardano

Cardano Vasil Hard Fork is Now ‘Unavoidable’ after ‘Fruitful’ Testnet – Cryptonews

Source: Adobe Stock / TANATPON Cardano (ADA)'s long-awaited Vasil upgrade, which aims to improve...

By wpadminsonic164
Bitcoin'un çöküşü, kripto parayı yasallaştıran El Salvador'u nasıl etkileyecek? Videos

Bitcoin'un çöküşü, kripto parayı yasallaştıran El Salvador'u nasıl etkileyecek?

Son dönemde Bitcoin dahil birçok kripto para biriminde sıra dışı değer kaybı yaşanıyor. Kasım...

By wpadminsonic164