New Delhi: Thecryptocurrencymarkets were trading higher on Monday. Bitcoin (BTC) rose 1.37% to $28,300, whereas Ethereum (ETH) was above the $1,850 level. BTC volume in the last 24 hours stood at approximately $12.43 billion, rising 30.14% in the last 24 hours.
“Most cryptocurrencies rose over the weekend as markets reacted to the non-farm payrolls report, which showed that 236,000 jobs were added to the U.S. economy last month. Bitcoin was back above the US$28,000 level,” Edul Patel, Co-founder and CEO at Mudrex, said.
“BTC’s support now lies at US$27,900, while the resistance lies at US$29,200. On the other hand, Ethereum is attempting to move towards the US$1,900 level and is currently trading flat at the US$1,850 level ahead of the Shanghai update scheduled for April 12th,” Edul added.
Other top crypto tokens were also trading higher. BNB, Dogecoin, Solana and Shiba Inu rose up to 2%. The global cryptocurrency market cap was trading higher around $1.18 trillion, rising 0.85% in the last 24 hours.
The total volume in DeFi is currently 3.41 billion, 11.56% of the total crypto market 24-hour volume. The volume of all stablecoins is now $25.94 billion, which is 87.82% of the total crypto market 24-hour volume.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $547 billion. Bitcoin’s dominance is currently 46.17%, up 0.09% over the day, according to CoinMarketCap.
“If Bitcoin is able to break through its current resistance level, we may see a significant price increase, potentially reaching $28,900 or even $29,250. On the other hand, if the current downtrend continues, we can expect significant support around $26,500 and $25,500,” Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said.
Rajagopal Menon, Vice President at WazirX said, “Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 61, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) indicate a Neutral outlook as well at 63 and 34 respectively.”
“The MACD Level (12, 26), at 750, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) and the Williams Percent Range (14) continue to be “Neutral” at 34 and −33 respectively,” Menon added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.22 hours, IST on April 10, 2023)
Bitcoin $28,300 1.37%Ethereum $1,860 1.25%Tether $0.9998 0.01%BNB $312.96 0.83%XRP $0.5049 0.10%Cardano $0.3876 0.28%Polygon $1.10 -0.38%Dogecoin $0.08302 1.48%Solana $20.26 1.20%Polkadot $6.18 0.61%Shiba Inu $0.00001094 0.83%Litecoin $90.56 0.39%Tron $0.06668 0.99%
(Note: Price change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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