Crypto Price Today: Bitcoin nears $30,500; Ethereum slips below $1,900; Toncoin falls 5%
Bitcoin Rose slightly about half-a-per cent to hover near the $30,500 mark, while Ethereum was trading lower as it retreated marginally and remained below the $1,900 level.
- Jun 28, 2023,
- Updated Jun 28, 2023 10:00 AM IST
Bitcoin rose but the majority of the other top crypto tokens were trading lower during the early Asian session on Wednesday after positive US economic data. The key takeaway was that the economy is not breaking for now and recession is away. Optimism in the riskier asset class pushed the buoyed sentiments. Bitcoin was holding its gains as the largest crypto token rose slightly about half-a-per cent to hover near the $30,500 mark. However, its largest peer, Ethereum, was trading lower as it retreated marginally and remained below the $1,900 level. However, price action in the altcoins was mixed with a negative bias. Bitcoin remained well above the $30,000 level for the fifth consecutive day with limited price fluctuations, driven by the optimistic outlook regarding a potential Bitcoin ETF and positive economic indicators from the US However, bearish activity near the $31,000 zone was evident, said Edul Patel, Co-founder and CEO at Mudrex. "Bitcoin is currently facing immediate resistance at the $30,680 and $30,950 levels, while finding support at the $30,000 mark. Bitcoin has experienced a 13 per cent increase in value month-to-date and an impressive 85 per cent surge year-to-date," he said. Top crypto tokens were trading mostly lower on Wednesday. Toncoin topped among the losers, falling about 5 per cent, while Avalanche and Polygon were down 2 per cent each. BNB, Litecoin, Cardano and Solana were among other top laggards, weakening about a per cent each. The global cryptocurrency market cap was trading flat, hovering around $1.18 trillion-mark as it declined slightly, less than a per cent, in the last 24 hours. However, the total trading volumes shed around 2 per cent to $36.25 billion. Image: Crypto-chart-priceTech View by Giottus Crypto Platform Following a bearish breakout from the rising wedge pattern, BNB saw a downtrend reversal, slipping below its 20-day moving average (~$240). This downward shift translated into an oversold status, with the Relative Strength Index (RSI) hovering around35. Image: Chart-BNB If BNB manages to break over the resistance level at $250 and hold as support, it will be bullish for the short-term. With sufficient buying activity, a break above $265 will lead to a rise towards $280 and higher. If BNB is unable to break through the $250 barrier, $230 serves as an early support level, with the $215 zone providing the next line of defence. Major Levels Support: $230, $215 Resistance: $250, $265, $280 (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 rose but the majority of the other top crypto tokens were trading lower during the early Asian session on Wednesday after positive US economic data. The key takeaway was that the economy is not breaking for now and recession is away. Optimism in the riskier asset class pushed the buoyed sentiments. Bitcoin was holding its gains as the largest crypto token rose slightly about half-a-per cent to hover near the $30,500 mark. However, its largest peer, Ethereum, was trading lower as it retreated marginally and remained below the $1,900 level. However, price action in the altcoins was mixed with a negative bias. Bitcoin remained well above the $30,000 level for the fifth consecutive day with limited price fluctuations, driven by the optimistic outlook regarding a potential Bitcoin ETF and positive economic indicators from the US However, bearish activity near the $31,000 zone was evident, said Edul Patel, Co-founder and CEO at Mudrex. "Bitcoin is currently facing immediate resistance at the $30,680 and $30,950 levels, while finding support at the $30,000 mark. Bitcoin has experienced a 13 per cent increase in value month-to-date and an impressive 85 per cent surge year-to-date," he said. Top crypto tokens were trading mostly lower on Wednesday. Toncoin topped among the losers, falling about 5 per cent, while Avalanche and Polygon were down 2 per cent each. BNB, Litecoin, Cardano and Solana were among other top laggards, weakening about a per cent each. The global cryptocurrency market cap was trading flat, hovering around $1.18 trillion-mark as it declined slightly, less than a per cent, in the last 24 hours. However, the total trading volumes shed around 2 per cent to $36.25 billion. Image: Crypto-chart-priceTech View by Giottus Crypto Platform Following a bearish breakout from the rising wedge pattern, BNB saw a downtrend reversal, slipping below its 20-day moving average (~$240). This downward shift translated into an oversold status, with the Relative Strength Index (RSI) hovering around35. Image: Chart-BNB If BNB manages to break over the resistance level at $250 and hold as support, it will be bullish for the short-term. With sufficient buying activity, a break above $265 will lead to a rise towards $280 and higher. If BNB is unable to break through the $250 barrier, $230 serves as an early support level, with the $215 zone providing the next line of defence. Major Levels Support: $230, $215 Resistance: $250, $265, $280 (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.)