Crypto Price Today: Bitcoin holds $26,000; Ethereum retains $1,675; Altcoins trade mixed
Crypto Price Today: Bitcoin holds $26,000; Ethereum retains $1,675; Altcoins trade mixed
Bitcoin remained under selling pressure but managed barely to hold above $26,000-levels, while Ethereum gained about half-a-per cent to hold above $1,675-mark.
Pawan Kumar Nahar
- Aug 21, 2023,
- Updated Aug 21, 2023 9:50 AM IST
Bitcoin dropped during the early trading session on Monday, while other top crypto assets were trading mixed. Bitcoin posted its worst weekly decline since the FTX crash in November 2022. The court battle between Grayscale and US regulators weighed on the crypto prices, while traders will be looking at macroeconomic cues due later this week. Cardano (ADA),trading at $0.27, is currently trying to reverse its decline from last week's decline. ADA managed to regain some of its losses over the weekend and is attempting a breakout from descending wedge. Its RSI levels (currently at 38) display positive divergence within the falling wedge pattern, which may increase the chances of a bullish reversal leading to an upside breakout.
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The token can have a rally if it manages to break the key resistance level of $0.30 (its 50-day EMA). On the flip side, $0.23 is likely to be a strong support zone. Major Levels: Support: $0.25, $0.23 Resistance: $0.30, $0.32(Views and recommendations given in this section are the analysts' own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)
Bitcoin dropped during the early trading session on Monday, while other top crypto assets were trading mixed. Bitcoin posted its worst weekly decline since the FTX crash in November 2022. The court battle between Grayscale and US regulators weighed on the crypto prices, while traders will be looking at macroeconomic cues due later this week. Cardano (ADA),trading at $0.27, is currently trying to reverse its decline from last week's decline. ADA managed to regain some of its losses over the weekend and is attempting a breakout from descending wedge. Its RSI levels (currently at 38) display positive divergence within the falling wedge pattern, which may increase the chances of a bullish reversal leading to an upside breakout.
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The token can have a rally if it manages to break the key resistance level of $0.30 (its 50-day EMA). On the flip side, $0.23 is likely to be a strong support zone. Major Levels: Support: $0.25, $0.23 Resistance: $0.30, $0.32(Views and recommendations given in this section are the analysts' own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)
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