The cryptocurrency market held its position during early trade on Monday, July 4 after remaining in consolidation over the past week. The global cryptocurrency market cap was seen in green on the day, rising by a modest 0.02 per cent over the past 24 hours, with a value of $865.24 billion at the time of writing this article. However, it could not get past the $900 million mark at the start of the week, as investors still remained in the extreme fear zone due to market volatility.
“Markets have remained in consolidation over the past week. Consolidation is generally considered to be a good sign as it allows the market to recover. The $18,850 support level in BTC and $21,000 resistance level would be closely tracked by market participants,” said Edul Patel, CEO and co founder of Mudrex.
The price of the world’s largest cryptocurrency by market cap, Bitcoin, remained below the $20,000 mark for another day. Bitcoin price today registered a value of $19,130.53 at the time of writing, which is a slight rise of 0.39 per cent over the past day.
“Bitcoin dropped by over 8 per cent in the week that went by, languishing around the $19,000 level. The overall market sentiment has improved marginally, but still remains in the “extreme fear” zone. Interestingly, on-chain data suggests that whales with over 1000 BTC are heavily accumulating the token despite the negative sentiment surrounding it. The daily trend for BTC is traversing within a descending channel pattern. The next key support is expected at $14,000. The daily RSI is a tad below the 30 level, reeling in the oversold zone,” said the WazirX trade desk.
Meanwhile, Ether price today remained flat and stayed barely over the $1,000 but held its crucial support level. At the time of writing this article, Ethereum price was standing at $1,054.62, which is down by 0.47 per cent over the past 24 hours.
“The second largest crypto, Ether, has however been able to hold is crucial support level. The transaction fees on Ethereum have dropped to 2 year lows, and we might see some developers leveraging that. The coming few days a bound to be interesting for the crypto market,” noted Patel.
Here are the top 10 cryptocurrencies and their prices on July 4, 2022, Monday, (According to data from coinmarketcap.com)
Bitcoin $19,130.53 or 0.39 per cent gain in the last 24 hours
Ethereum $1,054.62 or 0.47 per cent loss in the last 24 hours
Tether $0.9991 or 0.00 per cent gain in the last 24 hours
USD Coin $1.00 or 0.03 per cent gain in the last 24 hours
BNB $216.89 or 0.62 per cent loss in the last 24 hours
Binance USD $1.00 or 0.13 per cent gain in the last 24 hours
XRP $0.3183 or 2.07 per cent gain in the last 24 hours
Cardano $0.4505 or 0.63 per cent gain in the last 24 hours
Solana $32.93 or 0.71 per cent gain in the last 24 hours
Dogecoin $0.06647 or 0.57 per cent gain in the last 24 hours