Meanwhile, the global cryptocurrency market cap was trading higher, around $1.05 trillion, rising 0.18% in the last 24 hours.
The crypto market was range-bound over the weekend and continues to trade sideways. The crypto fear and greed index, too, remained steady over the weekend. The index is currently in the fear zone with a score of 40/100, said Parth Chaturvedi, Investments Lead at CoinSwitch Ventures.
“All major cryptos by market capitalization are trading marginally in the green. BTC and ETH continue to trade in a narrow range around their respective anchor levels of $26k and $1.6k. However, recent whale activity pertaining to BTC underlines optimism among investors,” Parth said.
The total volume in DeFi is currently $2.04 billion, 9.54% of the total crypto market 24-hour volume. The volume of all stablecoins is now $19.96 billion, which is 93.44% of the total crypto market 24-hour volumeThe market cap of Bitcoin, the world’s largest cryptocurrency, was around $505 billion. Bitcoin’s dominance is currently 48.36%, according to CoinMarketCap. Meanwhile, BTC volume stood at approximately $9.6 billion, rising 14.83% in the last 24 hours.
Notably, both Bitcoin and Ether are trading below their 50-day moving averages, indicating a bearish trend, said the CoinDCX Research Team.Tech view by Rajagopal Menon, Vice President at WazirX on the Crypto Market.
BTC’s exponential moving average (EMA) for 10-days and 200-days indicate strong Sell sentiment at 26226 and 27118, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicates Sell at 26276 and 27580, respectively. Simple moving averages show strong Sell sentiments.
The Ichimoku Base Line, valued at 27518, shows a Neutral sentiment for quite a long time, whereas the Hull Moving Average indicates a Buy signal at 25649. The Volume Weighted Moving Average at 26574 showed a Sell signal.
The MACD Level (12, 26) at -644 indicates a Sell. The Stochastic RSI Fast (3, 3, 14, 14) is at 52 with a Neutral indicator, while the Williams Percent Range (14) at −78 signals Neutral.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.04 hours, IST on September 4, 2023)
Bitcoin $25,969 0.20%
Ethereum $1,638 0.02%
Tether $0.9997 -0.02%
BNB $215 0.16%
XRP $0.5072 0.64%
Cardano $0.257 0.30%
Dogecoin $0.06326 -0.65%
Solana $19.73 0.75%
Polygon $0.5452 0.17%
Litecoin $64.28 -0.46%
Polkadot $4.27 -0.54%
Tron $0.07706 0.29%
Shiba Inu $0.000007734 -1.42%
(Note: Price change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)