Cryptocurrency Price Today: The global cryptocurrency market on August 1, Monday, remained largely flat, but stayed in red even as the market sentiments seemingly was in the process of coming out of the fear zone. The crypto market cap at the time of writing this article was $1.09 trillion, a fall of 1.12 per cent over the past day, as Bitcoin, Ether, Solana, Dogecoin and other cryptocurrencies snapped their winning streaks to open slightly lower.
Bitcoin held the $23,000 mark and gained over 6 per cent over the past seven days, data from CoinMarketCap showed. Bitcoin price today was standing at $23,324.99 while writing this article, which is a fall of 1.72 per cent over the last 24 hours.
“Bitcoin has closed in green for two consecutive weeks with a last week jump of just over 3 per cent and making a high of $24,600. The market sentiment also seems to slowly exit the ‘fear’ zone as Bitcoin looks bullish. The weekly trend for BTC continues to traverse within a descending triangle pattern, but has bounced off from the support level and is on an uptrend.. The next key resistance level for BTC is expected at $32,300,” said a spokesperson at the WazirX trade desk.
“Most cryptocurrencies underwent correction on the last day of the week. Despite the slight decline, Bitcoin remained above the US$23,000 level. If bulls can make a move today above the current level, we might see BTC touching the US$25,000 soon. While on the other hand, Ethereum has been on a winning streak for the past two weeks,” noted Edul Patel, CEO and co-founder of Mudrex.
Ether price today, on the other hand, fell by 0.31 per cent to scale $1,689.44 at the time of writing this article. Solana, Cardano, XRP and Dogecoin were also down by up to 3 per cent.
“Ethereum has been on a winning spree, closing in green for fout successive weeks. The past week alone saw over a 5 per cent rise in the price as ETH broke above its previous key resistance level of $1,740. The weekly trend for Ethereum has formed a descending channel pattern with a recent bounce back from its support levels. The next key resistance for Ethereum is expected at $2,400 level,” said the WazirX spokesperson.
“Ehereum might likely test the US$1,900-2,000 level in the coming days. This trend shows how strong buyers are in the market,” added Patel.
Here are the top 10 cryptocurrencies and their prices on August 1, 2022, Monday, (According to data from coinmarketcap.com)
Bitcoin $23,324.99 or 1.72 per cent loss in the last 24 hours
Ethereum $1,689.44 or 0.31 per cent loss in the last 24 hours
Tether $1.00 or 0.01 per cent gain in the last 24 hours
USD Coin $0.9998 or 0.00 per cent loss in the last 24 hours
BNB $285.96 or 2.42 per cent loss in the last 24 hours
XRP $0.3806 or 1.99 per cent loss in the last 24 hours
Binance USD $0.9992 or 0.16 per cent loss in the last 24 hours
Cardano $0.518 or 2.36 per cent loss in the last 24 hours
Solana $42.61 or 3.15 per cent loss in the last 24 hours
Dogecoin $0.06948 or 1.54 per cent loss in the last 24 hours