Crypto Price Today: Bitcoin regains $2,600; Ethereum nears $1,650; Altcoins trade higher
Bitcoin posted smart gains on Friday as it rose more than 2 per cent to regain $26,300-levels, while Ethereum moved about a per cent up to hover around $1,650-mark.
- Sep 8, 2023,
- Updated Sep 8, 2023 11:39 AM IST
Bitcoin was struggling to hold some gains on Friday. All eyes are set on India's G-20 presidency, where crypto regulations are likely to be discussed. Just banning cryptocurrency won't eliminate its risks, a joint policy roadmap published by global standard setters Thursday said. Ethereum is currently attempting a rebound after failing to break the $1,675 resistance level.After recording short-term gains last month, the asset has declined 9.2% since mid-August.The price action has been registering short line candles in the daily chart, indicating that ETH will continue moving sideways in medium term. Image: Chart-ETH The asset is currently trading below its 20-day moving average of $1,670 which acts as an immediate resistance level.Its RSI reading is currently at 40, slightly in oversold territory.If ETH is unable to break through the $1,700 barrier this week, the price may consolidate around $1,650 levels for a while. Major Levels: Support: $1,625,$1,585 Resistance: $1,670, $1,700, $1,735(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 was struggling to hold some gains on Friday. All eyes are set on India's G-20 presidency, where crypto regulations are likely to be discussed. Just banning cryptocurrency won't eliminate its risks, a joint policy roadmap published by global standard setters Thursday said. Ethereum is currently attempting a rebound after failing to break the $1,675 resistance level.After recording short-term gains last month, the asset has declined 9.2% since mid-August.The price action has been registering short line candles in the daily chart, indicating that ETH will continue moving sideways in medium term. Image: Chart-ETH The asset is currently trading below its 20-day moving average of $1,670 which acts as an immediate resistance level.Its RSI reading is currently at 40, slightly in oversold territory.If ETH is unable to break through the $1,700 barrier this week, the price may consolidate around $1,650 levels for a while. Major Levels: Support: $1,625,$1,585 Resistance: $1,670, $1,700, $1,735(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.)