Crypto Price Today: Bitcoin Hits $24,000; Avalanche, Solana and Shiba Inu dive up to 10%
Bitcoin and other crypto tokens traded in deep red on Thursday amid profit booking and negative news flow over Credit Suisse bank. Liquidity crunch is likely to be the main concern for the riskier asset markets, especially after the failure of Silicon Valley Bank.
After testing the $24,000 mark, Bitcoin was again above the given psychological levels, falling more than one percent in the last 24 hours. However, its biggest peer Ethereum posted a bigger cut and was below the $1700 level. However, the altcoin decline was severe.
Apart from US dollar-pegged stablecoins, all other popular crypto tokens traded with big cuts on Thursday. Avalanche fell around 10 percent, while Shiba Inu, Solana and Litecoin plunged 8 percent each. Polygon fell 7 percent, while Polkadot and Cardano each lost 6 percent.
Fetch.AI is an artificial intelligence (AI) lab building an open, permissionless, decentralized machine learning network with a crypto-economy. Fetch.ai democratizes access to AI technology with a permissionless network where anyone can connect and access secure datasets using autonomous AI to perform tasks that leverage the global network of data.
The Fetch.AI model is rooted in use cases such as optimizing DeFi trading services, transportation networks (parking, micromobility), smart energy grids and travel – essentially any complex digital system that relies on large datasets.
The FET/USDT price chart has formed a bull flag pattern, it is up 13 percent for the day. After gaining over 550 percent in the last 90 days, it is currently consolidating within a tight range. The pins on the weekly time frame indicate that each dip is being bought.
There is a high probability of a continuation of the uptrend from this level. The next resistance for the FET token is expected at the $0.46 level and the next support can be expected around the $0.34 level.
(Views and recommendations provided in this section are the analysts’ own and do not represent those of Business Today. Consult your financial advisor before taking any position in the asset(s) mentioned.)
Also Read: Patanjali Foods stock in focus on freeze of promoter shares; fixed question clarification
Also Read: Adani Enterprises, Adani Green, Adani Ports, Adani Wilmar, Adani Transmission stocks in focus today after trend reversal
