Crypto Price Today: Bitcoin holds $28k; Shiba Inu, Avalanche & XRP tanked 4% each
Bitcoin dropped more than 2 per cent but was able to hold above the $28,000 mark, while Ethereum also dropped a little less than 2 per cent to hold $1,850-levels.
Pawan Kumar Nahar
- May 8, 2023,
- Updated May 8, 2023 11:11 AM IST
Top crypto tokens were trading down on Monday amid the liquidity concerns as Binance halted the withdrawals citing technical issues. However, the sentiments euphoric positive of memecoin amid the buzz. Though, the activity in the broader crypto markets remains flat. BNB (BNB), earlier known as Binance Coin, is currently experiencing a bearish slump after getting rejected at its 200-day moving average. It is currently trading below $320.
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The price action seems to have fallen through the higher low and lower high levels since April. The RSI levels (38.12) have also experienced a sharp fall, reflecting aggressive selling pressure in the market. There are indications that the downtrend is bound to continue as the wider crypto market takes in the red today. Major Levels: Support: $315, $310 Resistance: $340, $350(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.)
Top crypto tokens were trading down on Monday amid the liquidity concerns as Binance halted the withdrawals citing technical issues. However, the sentiments euphoric positive of memecoin amid the buzz. Though, the activity in the broader crypto markets remains flat. BNB (BNB), earlier known as Binance Coin, is currently experiencing a bearish slump after getting rejected at its 200-day moving average. It is currently trading below $320.
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The price action seems to have fallen through the higher low and lower high levels since April. The RSI levels (38.12) have also experienced a sharp fall, reflecting aggressive selling pressure in the market. There are indications that the downtrend is bound to continue as the wider crypto market takes in the red today. Major Levels: Support: $315, $310 Resistance: $340, $350(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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