Cryptocurrency Price Today: The cryptocurrency market in the global scenario is slowly recovering amid an extremely volatile situation. According to data, the cryptocurrency market has been stable for the past 24 hours. Major coins, including Bitcoin, Ethereum and Cardano, have remained flat in recent days in a situation fueled by inflation and supply chain problems. Prior to this, investors have been extremely cautious about investing in digital assets as market sentiment on the Fear and Greed Index has hit a new low.
The global cryptocurrency market cap was $1.30 trillion as of Tuesday, May 17, at the time of writing this article, up 2.36 percent over the course of the day, according to data from CoinMarketCap. Meanwhile, Bitcoin price today was $30,408.90 at the time of writing this article. This was an increase of 2.71 percent in the past 24 hours. On the other hand, Ether price today also rose 2.76 percent in the last 24 hours, reaching $2,078.71 at the time of writing this article.
Bitcoin continued to consolidate around the $30,000 level. However, market sentiment has fallen to 8 on the Fear and Greed Index, to one of its lowest points. Meanwhile, addresses with 1 or more BTC have hit an all-time high, an indication that the markets may bounce back from this level, according to expert analysts,” said the WazirX Trade Desk.
“BTC’s movement has been more or less flat for the past 24 hours as it was priced at $30,000 levels. The prices of many altcoins fell, indicating lower risk appetite among traders,” added Darshan Bathija, CEO and co-founder of Vauld.
“The weekly chart for BTC has broken below the long-formed ascending channel pattern. The next resistance for BTC is expected at $40,000 and an immediate support is expected at $24,000. The RSI for BTC remains in the oversold zone,” said the WazirX Trade Desk.
“There were some signs of optimism in the BTC markets. According to data from IntoTheBlock’s In/Out of the Money Around Price (IOMAP) model, near $29,500 levels were a strong support range, as about 366,430 BTC was held by about 481,910 addresses. Attempts to push the price below these levels can be achieved by buying from these investors who may want to increase their profits,” Bathija said.
Here are the top 10 cryptocurrencies and their prices on May 17, 2022 (data from coinmarketcap.com)
Bitcoin $30,408.90 or 2.71 percent gain in the last 24 hours
Ethereum $2,078.71 or 2.76 percent gain in the last 24 hours
Tether $0.9989 or 0.00 percent gain in the last 24 hours
USD Coin $1.00 or 0.04 percent gain in the last 24 hours
BNB $306.39 or 4.31 percent gain in the last 24 hours
XRP $0.434 or 4.72 percent gain in the last 24 hours
Cardano $0.58 or 3.78 percent gain in the last 24 hours
Solana $56.73 or 5.89 percent profit in the last 24 hours
Binance USD $0.9999 or 0.18 percent loss in the last 24 hours
Dogecoin $0.08999 or 2.92 percent gain in the last 24 hours
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