Crypto Price Today: Bitcoin Hits $27,000; Solana and XRP climb up to 6%
Bitcoin and other digital tokens traded mixed during early trading hours on Monday, following a weekend rally. The crypto market was firm amid the banking crisis around the world, but traders will be closely watching the US Federal Reserve’s interest rate hike and comments accompanying it. Bitcoin traded strongly above $27,000, gaining around 25 percent in the past week. However, its biggest peer Ethereum underperformed, gaining roughly just 10 percent in the past week, hovering around the $1,750 mark. Altcoins were trading with mixed signals. Over the weekend, Bitcoin hovered above the $28,000 mark, and although it has eased slightly today, it is still trading above $27,000. The global cryptocurrency market is valued at $1.17 trillion, representing an increase of 1, 18 percent in the last 24 hours, said Edul Patel, co-founder and CEO of Mudrex. rose 101 percent from the cycle low in January. With instability in the banking sector, higher-than-expected inflation data and renewed confidence in a dovish Federal Reserve, Bitcoin has reached levels not seen in about nine months,” he said. Major top and popular crypto tokens traded mixed signals on Monday . However, the moments were largely limited on both sides. Among the winners, Solana rose around 5 percent, while XRP jumped 3 percent. Among the losers, Polygon fell 4 percent, followed by Shiba Inu and Polkadot. The global cryptocurrency market cap traded slightly higher at 1, 16 trillion dollars, rising almost 1 percent in the last 24 hours.However, total trading volumes increased by more than 10 percent, close to 68.61 billion dollars.
Bitcoin is experiencing a minor drop, with the cryptocurrency currently trading at $27,200, showing an uptrend and potentially breaking out of the $27,740 resistance level, leading to price moves towards the $29,000 or $30,700 levels, said Sathvik Vishwanath, co-founder and CEO. , Unocoin.
“Ethereum, on the other hand, is experiencing strong buying interest. A number of altcoins made big gains, while others traded sharply lower,” he said.
Bitcoin (BTC) is currently trading around $28,000, having gone through an impressive 50% increase in just the last 10 days. This bullish surge began when BTC bounced back from its 200-day moving average, breaking through various resistance levels along the way. These include the golden pocket at $26,662 (now acting as a robust support), the 50-day moving average at $23,393, and an ascending trend line that has been holding since last October. BTC dominance has increased significantly as altar bleeds towards the top asset.
The next targets to watch out for are the Fib resistance levels at $28,799 and $32,429. Additionally, the psychological barrier of $30,000 can prove to be a challenging milestone. On the other hand, BTC’s 200-day moving average is currently at $19,935, significantly below its current value. This may indicate that BTC is overbought. Bitcoin’s relative strength index (RSI) around 70 further supports this notion. Resistance at key levels: $28,799, $30,000, $32,429 Support: $26,662, $25,950, $23,949
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