Crypto Market Gains Marginally Even As Trading Volume Rises; Bitcoin, Ethereum Up

Bitcoin was up by 3.21 per cent, while Ethereum was up by 5.41 per cent. Bitcoin BTC was also the most trending, while Bonk BONK was the top gainer and JasmyCoin JASMY was the top loser.
Crypto Market Gains Marginally
Crypto Market Gains Marginally

The global crypto market gains marginally on Tuesday. The total market cap was up by 3.36 per cent to $2.11 trillion, even as the total trading volume was up by 34.45 per cent to $88.24 billion. Bitcoin BTC was the most trending. It was up by 3.21 per cent to $57,301.55. Its 24-hour trading volume was $35.68 million. Bonk BONK was the top gainer. It was up by 21.91 per cent. Its 24-hour trading volume was $526.52 million. Jasmy Coin JASMY was the top loser. It was down by 2.30 per cent. Its 24-hour trading volume was $115.70 million.

DeFi was up by 2.95 per cent to $5.66 billion, Coinmarketcap.com reported.

Rajagopal Menon, VP, WazirX said, "Bitcoin is consolidating above $55,000 after failing to surpass $58,200, reaching highs of $58,129 and lows of $54,954. It currently shows minor gains above the 50% Fibonacci retracement level. Immediate resistance lies near $57,250, below the 100-hour SMA."

He further mentioned, "Technical indicators reveal the hourly MACD is losing momentum in the bearish zone, indicating weakening downward pressure. The BTC/USD hourly RSI has climbed above 50, signaling increased buying interest. Key support levels are at $55,500 and $54,500, with resistance at $57,650 and $58,500, suggesting potential upward movement if resistance is breached."

He added, "Amid recent pessimism, analysts remain optimistic about XRP, trading at $0.4317, up 4.45% in 24 hours. XRP's technical analysis underscores crucial Fibonacci support at $0.3917. The RSI suggests oversold conditions, hinting at a possible reversal, while the Moving Average Cross signals a shift from bearish to bullish sentiment."

At last, "Solana is developing a bearish descending triangle pattern, which would be validated with a close below $118. Despite this pattern, bulls are actively preventing declines, as evidenced by SOL trading at $138, reflecting a 6.26% increase over the past 24 hours. Additionally, the RSI indicates a potential positive divergence, signaling a decrease in selling pressure."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 3.21 per cent to $57,301.55. Its 24-hour trading volume was 35.68 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 53.5 per cent.

Ethereum: Ethereum ETH was up by 5.41 per cent to $3,070.56 from the previous day. Its 24-hour trading volume was $21.04 billion. Ethereum’s market dominance was 17.9 per cent.

Tether: Tether USDT was trading at $0.9998. It was down by 0.01 per cent. Its 24-hour trading volume was $68.29 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 5.60 per cent to $140.63. Its 24-hour trading volume was $3.45 billion.

Avalanche AVAX was trading at $25.40, down by 0.99 per cent. Its 24-hour trading volume was $435.55 million.

Cardano ADA was up by 6.14 per cent to $0.3708 from the previous day. Its 24-hour trading volume was $455.57 million.

Meme Coins

Dogecoin DOGE was down by 4.00 per cent, with a 24-hour price of $0.108.

Shiba Inu SHIB was up by 4.24 per cent to $0.0000164.

Decentralised Finance

DeFi coin was trading at $0.03679, down by 5.56 per cent.

Yearn.Finance YFI was up by 2.84 per cent to $5,779.42 in the last 24 hours. Its 24-hour trading volume was $26.55 Billion.

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