The global crypto market dips marginally on Wednesday. The total market cap was up by 1.33 per cent to $2.32 trillion, while the total trading volume was down by 19.06 per cent to $95.53 billion.
Onda ONDA was the most trending cryptocurrency. It was down by 0.38 per cent to $0.8081. Its 24-hour trading volume was $363.38 million. Akash Network AKT was the top gainer. It was up by 12.80 per cent. Its 24-hour trading volume was $10.33 million. Stacks STX was the top loser. It was down by 5.51 per cent. Its 24-hour trading volume was $170.26 million.
DeFi was up by 5.86 per cent to $7.31 billion, Coinmarketcap.com reported.
Sathvik Vishwanath, Co-Founder & CEO, Unocoin, said "Bitcoin’s pivot point rests at $61,415, pivotal for its short-term direction. Immediate resistance levels are at $64,873, with further hurdles at $67,846 and $71,608. On the flip side, support levels start at $58,181, extending to $55,649 and $52,859. The Relative Strength Index (RSI) currently sits at 41, suggesting neither overbought nor oversold conditions, hinting at potential stability. The 50-Day Exponential Moving Average (EMA) is at $64,718, slightly above the current market price, indicating a mild bearish sentiment."
He added,"A ‘triple bottom’ pattern around $61,400, alongside a hammer candlestick pattern, hints at potential buying resurgence if Bitcoin stays above this level. However, a break below the pivot point of $61,415 could lead to a sharper decline, testing lower support levels due to a shift in trader sentiment and increased selling pressure. In summary, current technical analysis cautiously favors a bullish outlook above $61,415, while a dip below this point could amplify selling trends, testing lower support levels."
Cryptocurrency Prices
Bitcoin: Bitcoin BTC was up by 1.82 per cent to $63,931.52. Its 24-hour trading volume was $39.48 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 54.2 per cent.
Ethereum: Ethereum ETH was up by 1.09 per cent to $3,089.21 from the previous day. Its 24-hour trading volume was $17.29 billion. Ethereum’s market dominance was 16.0 per cent.
Tether: Tether USDT was trading at $1.00. It was up by 0.01 per cent. Its 24-hour trading volume was $70.91 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL was up by 4.59 per cent to $139.31. Its 24-hour trading volume was $5.06 billion.
Avalanche AVAX was trading at $34.70, up by 0.24 per cent. Its 24-hour trading volume was $670.61 million
Cardano ADA was up by 0.15 per cent to $0.4584 from the previous day. Its 24-hour trading volume was $482.05 million.
Meme Coins
Dogecoin DOGE was up by 1.96 per cent, with a 24-hour price of $0.1562.
Shiba Inu SHIB was up by 6.03 per cent to $0.00002264.
Decentralised Finance
DeFi coin was trading at $0.04604, the same as yesterday.
Yearn.Finance YFI was up by 0.94 per cent to $6,860.08 in the last 24 hours. Its 24-hour trading volume was $25.67 million in the last 24 hours.
