Crypto Price Today: Bitcoin nears $28,000; BNB, Ethereum & Polygon top gainers
Bitcoin rose a per cent to hover around the $28,000 mark, whereas its largest peer Ethereum also advanced more than half a per cent to race past $1,750-level.
Pawan Kumar Nahar
- Mar 27, 2023,
- Updated Mar 27, 2023 9:42 AM IST
After the weekend jitters, Bitcoin was back in green as Asia logged into the offices on Monday. However, there was no major movement in the crypto market as crypto traders closely followed everything with Coinbase, which received a notice from the SEC recently. About five weeks ago, Polygon (MATIC) was bullish, having skyrocketed over 100% YTD. However, the tides have turned since then, and the asset has dropped about 30%, currently hovering around the $1.1 level. After a pullback MATIC faced a roadblock at its 50-day moving average, now situated at $1.21, and has struggled to break through ever since. But an ascending trendline from June last year and the 200-day moving average have formed a solid safety net, preventing a more significant plunge.
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Its RSI is sitting around a neutral 50, indicating a balanced market with opportunities for both the bulls and the bears alike. For the bullish traders, now might be the right time to go all-in on MATIC, as it is aiming to conquer and surpass the golden pocket. Keep an eye on the $1.3 milestone as the next target. Bears might be able to drag it down to the 200-day moving average at $0.97, but they'll need to break the trendline first. Major Levels Resistance: $1.14, $1.21, $1.30 Support: $1.09, $0.97, $0.94(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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After the weekend jitters, Bitcoin was back in green as Asia logged into the offices on Monday. However, there was no major movement in the crypto market as crypto traders closely followed everything with Coinbase, which received a notice from the SEC recently. About five weeks ago, Polygon (MATIC) was bullish, having skyrocketed over 100% YTD. However, the tides have turned since then, and the asset has dropped about 30%, currently hovering around the $1.1 level. After a pullback MATIC faced a roadblock at its 50-day moving average, now situated at $1.21, and has struggled to break through ever since. But an ascending trendline from June last year and the 200-day moving average have formed a solid safety net, preventing a more significant plunge.
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Its RSI is sitting around a neutral 50, indicating a balanced market with opportunities for both the bulls and the bears alike. For the bullish traders, now might be the right time to go all-in on MATIC, as it is aiming to conquer and surpass the golden pocket. Keep an eye on the $1.3 milestone as the next target. Bears might be able to drag it down to the 200-day moving average at $0.97, but they'll need to break the trendline first. Major Levels Resistance: $1.14, $1.21, $1.30 Support: $1.09, $0.97, $0.94(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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Also read: Adani group stocks: Adani Total Gas, Adani Transmission shares in focus today. Here's why
Also read: Coal India, InterGlobe Aviation, GAIL, Triveni Engineering: What analysts say on these 4 stocks
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