Cryptocurrency price today: Global cryptocurrency markets were largely flat on Monday, August 1, but remained in the red as market sentiment appeared to be in the process of breaking out of fear territory. At the time of writing the crypto market cap was $1.09 trillion, down 1.12 percent from the previous day, as Bitcoin, Ether, Solana, DogeCoin and other cryptocurrencies opened their winning streaks slightly lower.
Bitcoin hit the $23,000 mark and gained more than 6 percent in the past seven days, according to data from CoinMarketCap. At the time of writing this article, the price of Bitcoin stood at $23,324.99 today, a decrease of 1.72% over the past 24 hours.
Bitcoin closed in the green for two consecutive weeks and jumped just over 3 percent last week to a record high of $24,600. Market sentiment is also slowly moving out of the ‘fear’ zone as Bitcoin looks bullish. The weekly trend for BTC is moving within a descending triangle pattern, but has bounced off the support level and is on an uptrend. .
“Most cryptocurrencies saw a correction at the end of the week. Despite a slight decline, Bitcoin remained above the US$23,000 level. If the bulls can move above the current level today, we could soon see BTC touching US$25,000. While on the other hand, Ethereum has been winning for the last couple of weeks,” noted Adol Patel, CEO and co-founder of Madrex.
Ether, on the other hand, was down 0.31% to $1,689.44 at the time of writing today. Solana, Cardano, XRP and Dogecoin also fell by up to 3 percent.
“Ethereum is on a winning streak, closing in the green for consecutive weeks. The last week alone saw a price gain of over 5 percent as ETH broke above its previous key resistance level above $1,740. Ethereum Week The war trend has formed a descending channel pattern with a recent bounce from its support level. The next key resistance for Ethereum is expected at the $2,400 level,” said a WazirX spokesperson.
Ethereum is likely to test the US$1,900-2,000 level in the coming days. This trend shows how strong buyers are in the market,” added Patel.
Here are the top 10 cryptocurrencies and their prices on Monday, August 1, 2022 (according to data from coinmarketcap.com)
Bitcoin lost $23,324.99 or 1.72% in the last 24 hours
Ethereum is down $1,689.44 or 0.31% in the last 24 hours
Up $1.00 or 0.01% in the last 24 hours
USD Coin $0.9998 or a loss of 0.00 percent in the last 24 hours
BNB lost $285.96 or 2.42% in the last 24 hours
XRP $0.3806 or a loss of 1.99% in the last 24 hours
Binance USD lost $0.9992 or 0.16% in the last 24 hours
Cardano $0.518 or a loss of 2.36% in the last 24 hours
Solana lost $42.61 or 3.15% in the last 24 hours
Dogecoin $0.06948 or a loss of 1.54% in the last 24 hours
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