Home Business Bitcoin Rebounds to $23,000, Ether in Green; Solana Faces Loss

Bitcoin Rebounds to $23,000, Ether in Green; Solana Faces Loss

Bitcoin Rebounds to $23,000, Ether in Green; Solana Faces Loss


Cryptocurrency Price Today: The global cryptocurrency market on Wednesday, August 3, rebounded slightly after closing in red for four consecutive days, as Bitcoin, Ethereum, Polkadot, and Dogecoin among others traded in green. The cryptocurrency market was standing at $1.07 trillion, up by 1.16 per cent over the last 24 hours, according to data.

Bitcoin opened in green after closing in red on Tuesday, and jumped to the $23,000 levels on Wednesday at open. Bitcoin price today at the time of writing this article was $23,204.25, up by 1.48 per cent over the past 24 hours.

“Bitcoin dropped by 1 per cent yesterday, again closing the day in negative. BTC has now closed in red for the fourth consecutive day. The four-hourly trend for BTC continues to traverse within an ascending channel pattern. The chart had bounced from the top of the trend line towards the lower side and we could expect this downwards momentum to continue for a few more days before the  trend reverses again. The next key resistance level for BTC is expected at $32,300 and the next support is expected at $19,000,” said a spokesperson at the Wazirx trade desk.

“The global crypto market started this month with a correction. Bitcoin slid below US$23,000 on Tuesday with increased selling pressure. However, since BTC has been trading sideways this week, it might be able to extend its gains soon,” said Edul Patel, CEO and co-founder of Mudrex.

Meanwhile, Ethereum crossed the $1600 mark on Wednesday after dipping below the same levels on Tuesday. Ether price today jumped by 3.33 per cent at the time of writing in article to scale $1,639.63, showed data from CoinMarketCap.

“Ethereum has remained fairly neutral against Bitcoin over the last week or so, hovering around the 0.071 levels. The Bitcoin dominance also continued to maintain its position above the 42 per cent mark without any significant movement in the last couple of days. The daily chart for ETH-BTC continues to traverse within a descending triangle pattern re-testing the pattern upper trendline. The next  key support for ETH-BTC is expected at 0.049 and next resistance is expected at 0.078,” said the WazirX spokesperson.

“On the other hand, Ethereum has bounced off its support level at US$1,500 and is trading above the US$1,600 level. Amid sustained buying, ETH is likely to recapture the US$1,700 level back in the coming hours,” added Patel.

Here are the top 10 cryptocurrencies and their prices on August 3, 2022, Wednesday, (According to data from coinmarketcap.com)

Bitcoin $23,204.25 or 1.48 per cent gain in the last 24 hours

Ethereum $1,639.63 or 3.33 per cent gain in the last 24 hours

Tether $1.00 or 0.01 per cent loss in the last 24 hours

USD Coin $1.00 or 0.00 per cent gain in the last 24 hours

BNB $288.74 or 3.56 per cent gain in the last 24 hours

Binance USD $1.00 or 0.00 per cent gain in the last 24 hours

XRP $0.3709 or 0.06 per cent gain in the last 24 hours

Cardano $0.5074 or 2.71 per cent gain in the last 24 hours

Solana $38.76 or 4.96 per cent gain in the last 24 hours

Dogecoin $0.06756 or 1.79 per cent gain in the last 24 hours

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