Cryptocurrency price today: The global cryptocurrency market on Tuesday, August 16th, traded in the red as the major cryptocurrencies lost their grounds. The market capitalization of cryptocurrencies reached $1.14 trillion, down 3.76 percent in the past 24 hours, according to the data. However, trading volumes saw a decrease of 9.84 percent on the day as it settled at $75.47 billion.
“BTC (Bitcoin) and ETH (Ethereum) prices faced a downward correction after attempting to break through the resistance zone,” said Edul Patel, CEO and co-founder of Mudrex.
Bitcoin has been trading in the red on the day and barely maintained the $24,000 mark even as investor sentiment improved over the past few days. Data retrieved from CoinMarketCap showed that the price of bitcoin today at the time of writing is $2,3968.54, down 2.85 percent over the past 24 hours. In the past seven days, bitcoin prices are up 0.55 percent, according to the data.
Bitcoin price dropped below $24,200 from $25,000 and could reach $24,000. The immediate support level is near the $23,500 area, below which the price may gain bearish momentum.”
“BTC is doing well and stable after the breakout above the 200 weekly moving average, it is holding the entire support area and as long as BTC holds above the 200 weekly moving average which is near $23,000, we can consider a stable rally until $29,000. According to the resistance levels , there is no significant resistance before $29,200 even and unless BTC closes again below 200W ma then we can notice a small downside move to $21,500,” added Manoj Dalmia, founder and director of Proassetz Exchange.
Meanwhile, Ethereum remained above the $1,800 mark on Tuesday as sentiment improved. Ether today is down 3.99 percent at the time of writing to settle at $1,872.38, according to data from CoinMarketCap. The data showed that the price of Ether rose over the past week by 5.68 percent.
“Similarly, ETH price failed to stay above the $2000 level and fell to the 1.880 level. The immediate resistance is at the $1.940 and $1,960 levels, above which the price may retest the $2000 area,” Idol Patel noted.
Here are the top 10 cryptocurrencies and their prices on August 12, 2022, Wednesday (according to data from coinmarketcap.com)
Bitcoin $23,968.54 or 2.85% loss over the past 24 hours
Ethereum $1,872.38 or 3.99 percent loss in the last 24 hours
Assess a loss of $1.00 or 0.00 percent in the last 24 hours
USD Coin – $0.9999 gain or 0.02 percent in the last 24 hours
$316.84, or a loss of 1.16 percent in the last 24 hours
Cardano $0.5523, or 2.30 percent loss over the past 24 hours
XRP $0.3718 or 2.11 percent loss over the past 24 hours
Binance $0.9999 or 0.00 percent loss in the last 24 hours
Solana $43.16, or 4.92 percent, lost in the last 24 hours
Dogecoin $0.07928 or 0.77 percent over the past 24 hours