Meanwhile, the global cryptocurrency market cap was trading higher, around $1.04 trillion, rising 0.31% in the last 24 hours.
Both Bitcoin and Ethereum have exhibited stability, remaining within a narrow 2% price range in recent days. Notably, open interest in both of these tokens is on the rise, indicating new short positions are being opened, said CoinDCX Research Team.
Solana recently partnered with Visa, a global payment giant. This collaboration aims to make crypto more accessible for everyday transactions, potentially leading to wider adoption. Following this news, Solana was up 5% in early trade, CoinDCX said.
The total volume in DeFi is currently $2.26 billion, 9.34% of the total crypto market 24-hour volume. The volume of all stablecoins is now $23.36 billion, which is 96.42% of the total crypto market 24-hour volume.Bitcoin’s dominance is currently 48.26%, according to CoinMarketCap. Meanwhile, BTC volume stood at approximately $10.83 billion, rising 1.69% in the last 24 hours.
“Currently, BTC faces resistance at $25,900 and finds support at $25,700. However, it has still not yet gathered the necessary momentum to make a decisive move. So, there is a possibility of Bitcoin trading sideways for some period,” Edul Patel, CEO and Co-founder of Mudrex, said.Tech view by Rajagopal Menon, Vice President at WazirX on the Crypto Market
BTC’s Exponential Moving Average for 10-day and 200-day indicate strong Sell sentiment at 26071 and 27091, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicates Sell at 26213 and 27592, respectively. Simple moving averages show strong Sell sentiments.
The Ichimoku Base Line, valued at 27496, shows a Neutral sentiment for quite a long time, whereas the Hull Moving Average indicates a Buy signal at 25665. The Volume Weighted Moving Average at 26384 showed a Sell signal.
The MACD Level (12, 26) at -629 indicates a Buy. The Stochastic RSI Fast (3, 3, 14, 14) is at 45 with a Neutral indicator, while the Williams Percent Range (14) at −82 signals Neutral.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 13.05 hours, IST on September 6, 2023)
Bitcoin $25,762 0.23%
Ethereum $1,629 0.42%
Tether $0.9993 0.01%
BNB $214 -0.19%
XRP $0.502 -0.27%
Cardano $0.2562 -0.15%
Dogecoin $0.06392 -0.44%
Solana $19.8 2.64%
Polygon $0.5571 0.41%
Litecoin $63.89 -0.10%
Polkadot $4.24 0.03%
Tron $0.07762 0.23%
Shiba Inu $0.000007656 1.96%
(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)
