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Cryptocurrency rate today: The global cryptocurrency market held steady on Wednesday, May 25, as fear among crypto investors did not subside after several days of choppy stock market sessions amid a number of reasons. Major cryptocurrencies including Bitcoin, Ethereum and Solana also did not register much growth, but remained mostly green with a few exceptions. The global cryptocurrency market is up 0.83 percent in the past 24 hours, according to the data, reaching $1.27 trillion at the time of writing.
Bitcoin price today was standing at $29740.10 at the time of writing this article. This was a slight gain of 1.32 percent over the past 24 hours, according to data from CoinMarket Cap.
“Bitcoin jumped marginally in the past day gaining about 1.6 percent as buying momentum increased. On the hourly time frame, BTC trend is passing inside a triangle pattern, consolidating between $29K and $31,000. Bitcoin’s next resistance is expected to reach USD 40,000 and immediate support expected at USD 24,000. “BTC needs to break above $31,000 and push towards the $40K level to see a major trend reversal,” WazirX Trade Desk said.
Fuld CEO and co-founder Darshan Bhatia said on Wednesday that the index of cryptocurrency fear and greed has continued to rise over the past week. While BTC traded below the $30,000 level, the cryptocurrency Fear and Greed Index recorded the second lowest level in the index’s history, over the past week. The downtrend is likely to continue as long as BTC price levels do not record upward trends above key price levels,” said Bateja.
Ether is down below $2,000 on the day, down 0.21 percent in the past 24 hours. Today’s price of Ether was standing at $1,977.80, according to the data.
“Ethereum also made slight gains above $2,000 last night. However, ETH is down 0.3 percent against BTC as Bitcoin Dominance Index maintains its level above 45 percent. ETH-BTC daily chart continues to cross a bullish channel pattern trading Near the support levels. The next resistance for ETH-BTC is expected at 0.077 and immediate support is expected at 0.064 levels,” WazirX Trade Desk noted.
“Over the past few days, altcoins have underperformed bitcoin, indicating lower levels of risk appetite among traders,” Batega added on altcoin prices.
Here are the top 10 cryptocurrencies and their prices on May 25, 2022, Wednesday (data from coinmarketcap.com)
Bitcoin $29,740.10 or 1.32% gain over the past 24 hours
Ethereum $1,977.80 or 0.21 percent loss in the past 24 hours
Tie $0.9991 or 0.01 percent profit in the last 24 hours
BNB gains $330.28 or 1.29 percent in the last 24 hours
USD Coin 1.00 USD or 0.00% loss in the last 24 hours
XRP 0.4084 USD or 0.12% gain in the last 24 hours
Binance gains $1.00 or 0.05 percent in the past 24 hours
Cardano $0.5207, or 0.44 percent, over the past 24 hours
Solana $49.26 or 0.86 percent loss over the past 24 hours
Dogecoin $0.08321 or 0.75 percent loss over the past 24 hours
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