Bitcoin and other top crypto tokens faced Monday blues as Asians logged into their office
Bitcoin and Ethereum were mildly higher, while other crypto assets were slightly down. The crypto market experienced an atypical drought with remarkably low trading volumes and BTC volatility near five-year lows.
Bitcoin and Ethereum remain steady
Bitcoin was trading flat, with mild gains and not changing much from the previous trading session as the largest crypto token managed to hold the 29,000-mark. However, its largest peer, Ethereum, was trading on the similar line, posting muted gains but remained below $1,850-levels. Price action in the major altcoins mixed in the early hours.
Cryptocurrency market cap and trading volumes
Barring a few exceptions, all top crypto tokens were trading lower on Monday. Shiba Inu cracked more than 5 per cent, while Bitcoin Cash dropped over 2 per cent. XRP, Dogecoin and Tron were down a per cent each. Among the gainers, Solana surged more than 2 per cent, while Polygon added about a per cent.
The global cryptocurrency market cap was trading slightly higher, rising up to $1.17 trillion-mark as it fell more than half-a-per cent in the last 24 hours. However, the total trading volumes rose more than 8 per cent to $21.62 billion.
Tech View by Giottus Crypto Platform
Tech View by Giottus Crypto Platform
Polkadot (DOT)has formed a bearish candle in daily time frame. The asset is currently trading below its 200-day and 20-day moving averages, which points towards a bearish outlook in the mid-term. DOT/USD pair is currently attempting a rebound to its $5.25 resistance level.
Its RSI is currently at 42.5, which indicates that the asset is oscillating between neutral and oversold territory. If DOT is unable to break through the $5.25 barrier, its price may continue to fall. The most recent low (about $4.85) serves as an early support level.
Major Levels:
Support: $4.85, $4.6
Resistance: $5.25, $5.5
Bitcoin Stays Flat, Ethereum Steady
Bitcoin opened the week at above $29,000, possibly driven by increased on-chain demand from new addresses. Despite the non-farm payroll report not affecting Bitcoin’s price, upcoming CPI reports from the US and China may create fluctuations. Ethereum remains steady between $1,800 and $1,850, said Edul Patel, CEO & Co-founder, Mudrex.
Bitcoin And Crypto Tokens Face Monday Blues
As Asians logged into their office Bitcoin and other top crypto tokens faced Monday blues. Bitcoin and Ethereum were mildly higher, while other crypto assets were slightly down. The crypto market experienced an atypical drought with remarkably low trading volumes and BTC volatility near five-year lows.
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