Cryptocurrency Price Today: Major cryptocurrencies, including Bitcoin, Ethereum, and memecoins such as Shiba Inu and Dogecoin, lost their value on Monday, July 11, pushing the global cryptocurrency market further into the red zone. The global cryptocurrency market continued to extend its weekend losses as investors anxiously await US inflation figures, which fell 2.95 percent in the past 24 hours to $915.25 billion.
Cryptocurrencies including Bitcoin, Ethereum, Solana, XRP and Polkadot remained in the red for the day. Bitcoin price today registered a value of $20,505.13 at 1052 IST, which is a 0.23 percent plunge from the past day, data from CoinMarketCap shows.
“Last week Bitcoin was on an uptrend and had passed the $22,000 level, with US Feds saying recession concerns are overblown. However, BTC dropped below $21K this weekend. On the 4-hour timeframe, the BTC chart has broken out of the triangle pattern. However, the trend has fallen marginally and the pattern is being tested again. The daily RSI that had previously climbed to 50 has fallen to the level of 40 in recent days with extremely low trading volumes over the same period. The next major support for Bitcoin is $14,000,” analysts at the WazirX trading desk said.
“Bitcoin, Ethereum and most cryptocurrencies fell in the past 24 hours due to a surge in the selling price on Sunday. Bitcoin is down nearly 4% since last day. If bulls can hold the bar above the $21,000 level, we could see sharp upward moves,” said Edul Patel, CEO and co-founder of Mudrex.
Meanwhile, Ethereum comfortably held on to the $1,100 mark. Ether price fell 0.00 percent today and stands at $1,150.20 as of the writing of this article. The price of Ethereum has fallen more than 3 percent in the past week.
“While on the other hand, as the price of Ethereum also falls, the revenues of projects based on the network also fall drastically. ETH has lost close to 5% and is about to test its support level at US$1,200. If buyers lose control of sellers, we could see Ethereum slip into the $1,000 zone,” Patel said.
“Ethereum has been closing in the red for the past 3 to 4 days after starting a rebound last week. ETH against Bitcoin has lost marginally in recent days as Bitcoin’s dominance index crossed the 44% level. The weekly chart for ETH-BTC continues to move within an ascending channel pattern, trading at the support levels,” the WazirX analysts added.
Here are the top 10 cryptocurrencies and their prices as of July 11, 2022, Monday, (according to data from coinmarketcap.com)
Bitcoin $20,505.13 or 0.23 percent loss in the last 24 hours
Ethereum $1,150.20 or 0.00 percent loss in the last 24 hours
Tether $0.9996 or 0.01 percent gain in the last 24 hours
USD Coin $0.9999 or 0.01 percent gain in the last 24 hours
BNB $231.68 or 0.06 percent gain in the last 24 hours
Binance USD $1.00 or 0.16 percent gain in the last 24 hours
XRP $0.3215 or 0.68 percent loss in the last 24 hours
Cardano $0.4531 or 0.02 percent gain in the last 24 hours
Solana $35.55 or 0.33 percent loss in the last 24 hours
Dogecoin $0.06596 or 0.20 percent loss in the last 24 hours
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