Crypto Price Update
NEW DELHI (CoinChapter.com) – Last week, Bitcoin saw its value plummet to almost $54,000. However, this week started with a slight rebound, with Bitcoin price reaching $58,000. Like Bitcoin, other cryptocurrencies also fluctuated, reflecting the volatile nature of the market. The overall cryptocurrency market cap currently stands at $2.08 trillion, experiencing a 1.42% decrease. The 24-hour trading volume, however, has increased by 9.14%, reaching $75.54 billion. Bitcoin’s dominance in the market is 55.9%, with Ethereum following at 15.3%. Let’s take a look at a crypto price update for some of the major cryptocurrencies.
Crypto Price Update:
Ethereum (ETH)
Ethereum (ETH) is currently priced at $2,630.07, marking a 3.42% decrease in the last 24 hours. It experienced a minor drop in its market cap, down by 0.85%, bringing it to $318.97 billion. The 24-hour trading volume surged by 17.31%, reaching $19.92 billion, indicating robust trading activity.
ETH/USD Daily Price Chart. Source: TradingView
The ETH price has fallen below all four key Exponential Moving Averages (EMAs) – 20, 50, 100, and 200-day. This alignment suggests strong bearish sentiment in the short to medium term. The RSI at 39.76 indicates that ETH is approaching oversold territory, which could potentially lead to a bounce. However, ETH faces significant resistance levels at $2,826.44, $3,068.59, and $3,177.79.
Toncoin (TON)
Toncoin (TON) has been a hot topic recently due to its new listing on Binance, which has introduced several new trading pairs. This cryptocurrency has shown resilience with its market capitalization at $15.766 billion, only slightly down by 0.08%. Its 24-hour trading volume has increased by 9.29% to $386.68 million, indicating growing trading activity. TON is currently trading at $6, down 2% from a day ago.
TON/USD Daily Price Chart. Source: TradingView
Technically, Toncoin’s chart shows a more neutral stance. Its price is hovering around its moving averages, suggesting a balance between buying and selling pressure. The RSI stands at 46.47, indicating neutral momentum. TON is trading below its 20 and 50-day EMAs but above its 100 and 200-day EMAs, suggesting a mixed outlook. Key resistance levels to watch are at $16.039 billion, $16.979 billion, and $17.343 billion.
Pyth Network (PYTH)
Pyth Network (PYTH) is trading at $0.28, down 3.78%. Its market cap stands at $1.03 billion, a 2.31% decrease, while its trading volume has dropped by 8.56% to $39.00 million.
PYTH/USD Daily Price Chart. Source: TradingView
The technical picture for cryptocurrency PYTH appears bearish. The price is trading below all its major moving averages, indicating a strong downtrend. The RSI at 43.48 suggests bearish sentiment, though not yet oversold. PYTH is trading below all its major EMAs, indicating a strong downtrend. Traders should watch resistance levels at $0.30382966, $0.32962574, and $0.39037038 for any potential recovery.
Solana (SOL)
Cryptocurrency Solana (SOL) is priced at $144.72, down 1.13%. Its market cap is $67.51 billion, a 0.82% decrease, with a 24-hour trading volume of $3.02 billion, down 0.78%.
SOL/USD Daily Price Chart. Source: TradingView
Solana is trading below some short-term moving averages, it remains above longer-term ones, suggesting a potential consolidation phase. The RSI at 44.14 suggests neutral market sentiment. SOL is holding above its 200-day moving average, which could provide some support. Traders should keep an eye on resistance levels at $152.96, $153.91, and $155.23 for potential breakout opportunities.
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Near Protocol (NEAR)
Near Protocol (NEAR) is trading at $3.96, down 3.74%. Its market cap has actually increased by 6.52% to $4.75 billion, despite a 3.42% decrease in 24-hour trading volume to $200.90 million.
Technically, Near Protocol is showing bearish signals. It’s trading below all its major moving averages, indicating a downtrend. The RSI at 38.67 suggests the asset is approaching oversold conditions, which could lead to a potential rebound. Key resistance levels to watch include $4.43433078, $5.01138637, and $5.41397353.
The post Crypto Price Update: Ethereum (ETH), Toncoin (TON), Pyth Network (PYTH), Solana (SOL), Near Protocol (NEAR) appeared first on CoinChapter.
