New Delhi: Major cryptocurrencies traded mixed on Tuesday, with crypto market giants posting gains while altcoins consolidating after posting profits.
Five of the top 10 cryptocurrencies were trading higher at 9:30 a.m. IST. Solana rose over 23 percent in the past 24 hours, showing that the ongoing rally has more legs.
uno digital token Bitcoin sped over the $ 52,000 mark.
Global crypto market capitalization rose over one percent from last day to $ 2.36 trillion. However, the total volume of the crypto market quickly rose by over 18 percent to $ 141.47 billion.
Bitcoin has made waves in the market for the past few days. Ether also saw an upward trend in performance. The higher price movements in cryptocurrencies coincide with a rally in global stocks this week, signaling greater risk appetite among investors, the CoinDCX research team said.
Bitcoin’s market cap is approaching the $ 1 trillion mark, while the price of the asset is approaching the $ 53,000 level. ETH currently stands at $ 465 billion in terms of market capitalization and trades at $ 3,950.
Altcoins have also rallied in the past week, bringing the total capitalization of the crypto market to around $ 2.4 trillion. Today is an important day for BTC as El Salvador became the first sovereign country to adopt BTC as legal tender, ZebPay Trade Desk said.
“This is likely to be watched closely by other nations to see how operationally this move is feasible. As bitcoin becomes available, it appears that the asset’s inflation will increase, making it more valuable as demand continues.” It added.
Binance, one of the world’s largest cryptocurrency exchanges, said it would curtail its services in Singapore days after the city-state’s central bank announced it would no longer offer payment services.
Tech View of Giottus Cryptocurrency Exchange
Solana, often referred to as the “Ethereum Killer,” is a blockchain platform that can support DeFi, NFT, and several other projects. His token – SOL – has seen a great surge from under $ 25 in July to over $ 172 this morning, almost 7x in less than 2 months.
SOL broke its $ 150 resistance in substantial volume and turned it crucially in support on its backtest. While its RSI is pretty bullish with levels above 55, it is also overbought and has been hovering above 80 for a few days.
With the SOL continuing to make higher lows, it is difficult to pinpoint its high with confidence. However, with its MACD indicating that the uptrend has peaked and subsequent support levels are at $ 150 and $ 125, SOL could offer opportunities to buy on dips as it continues its further uptrend in the coming days or weeks.
Its 20-day moving average is currently hovering around $ 104-110 and is expected to align to its support of $ 125 over the next few days. In the event of a lengthy Bitcoin run towards $ 58,000, SOL could continue its uptrend after quickly recovering from its local resistance of $ 160, with a possible $ 200 on the cards.
Support: $ 165, $ 150, $ 124
Resistance: $ 182, $ 200
The time is in UTC and the daily time frame is 12:00 PM – 12:00 PM UTC
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