The price of the cryptocurrency rose today as the world’s largest and most popular digital token bitcoin price was trading almost flat today at $20,533 with a positive bias. According to experts, the recent sideways price actions of the crypto market are related to the upcoming macroeconomic events in the global markets.
Ether, on the other hand, is the coin linked to the Ethereum blockchain and the second largest cryptocurrencyalso rose almost one percent to $1,591.
“Most cryptocurrencies traded sideways for another day in a row. Bitcoin has been trading above the $20,500 level over the past few days. If BTC can sustain gains above the $20,500 level, the next resistance is at $21,000. If it fails to maintain gains, we can see that BTC has dropped to the level of $20,000. Ethereum, the second largest cryptocurrency, is also trading in line with BTC. ETH 8 over the past seven days If ETH can break above $1,600 level today, we can see it trading at $1,700 level in the coming week. Dogecoin, on the other hand, continues to be the biggest gainer on Tuesday , a gain of more than 13% over the previous day. However, there is little chance that the coin will grow further as it has grown so far, said Edul Patel, CEO and co-founder of Mudrex.
Meanwhile, the Dogecoin price is trading up over 11% today at $0.14, while the Shiba Inu is also up around 3% to $0.0000012. Dogecoin is up 100% in the past week, far exceeding the progress of the two largest coins in the world, Bitcoin and Ethereum.
Today’s performance of other crypto prices was mixed as Binance USD, Chainlink, Tether, Cardano, Polygon, XRP, Terra, Tron, Litecoin, Uniswap were trading with gains in the last 24 hours while Apcoin, Avalanche, Polygon, Polkadot, Solana, Stellar fell.
According to CoinGecko, the global crypto market cap remains above the $1 trillion mark today, even though it was almost flat at $1.06 trillion in the past 24 hours.
(with inputs from agencies)
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