Cryptocurrency Price Today: The global cryptocurrency market on Wednesday, August 3, recovered slightly after closing in the red for four consecutive days, while Bitcoin, Ethereum, Polkadot, and Dogecoin, among others, traded in the green. The cryptocurrency market, according to data, stood at $1.07 trillion, up 1.16 percent in the past 24 hours.
Bitcoin opened in the green after closing in the red on Tuesday, and jumped to the $23,000 level at open on Wednesday. Today’s Bitcoin price was $23,204.25 at the time of writing, up 1.48 percent in the past 24 hours.
“Bitcoin fell 1 percent yesterday and ended the day negative again. BTC has now closed in the red for the fourth consecutive day. The four hour trend for BTC continues within an ascending channel pattern. The chart had bounced to the bottom from the top of the trendline and we could expect this downward momentum to continue for a few more days before the trend reverses again. The next major resistance level for BTC is expected at $32,300 and the next support is expected at $19,000,” a spokesperson for the Wazirx trading desk said.
“The global crypto market started this month with a correction. Bitcoin slumped below $23,000 on Tuesday due to increased selling pressure. However, as BTC traded sideways this week, it could soon increase its profits,” said Edul Patel, CEO and co-founder of Mudrex.
Meanwhile, Ethereum crossed the $1600 mark on Wednesday, after plunging below similar levels on Tuesday. Ether price rose 3.33 percent today at the time of writing in the article to scale $1,639.63, data from CoinMarketCap showed.
“Ethereum has remained fairly neutral against Bitcoin for the past week, hovering around the 0.071 levels. Bitcoin dominance has also remained above 42 percent for the past few days with no significant movement. The daily chart for ETH-BTC continues to move within a pattern of descending triangles, retesting the upper trendline of the pattern. The next major support for ETH-BTC is expected at 0.049 and the next resistance is expected at 0.078,” the WazirX spokesperson said.
“On the downside, Ethereum has broken from its support level at $1,500 and is trading above the $1,600 level. Amid continued purchases, ETH is likely to regain the $1,700 level in the coming hours,” Patel added.
Here are the top 10 cryptocurrencies and their prices on Wednesday, August 3, 2022 (according to data from coinmarketcap.com)
Bitcoin $23,204.25 or 1.48 percent gain in the last 24 hours
Ethereum $1,639.63 or 3.33 percent gain in the last 24 hours
Tether $1.00 or 0.01 percent loss in the last 24 hours
USD Coin $1.00 or 0.00 percent gain in the last 24 hours
BNB $288.74 or 3.56 percent gain in the last 24 hours
Binance USD $1.00 or 0.00 percent gain in the last 24 hours
XRP $0.3709 or 0.06 percent gain in the last 24 hours
Cardano $0.5074 or 2.71 percent gain in the last 24 hours
Solana $38.76 or 4.96 percent gain in the last 24 hours
Dogecoin $0.06756 or 1.79 percent gain in the last 24 hours
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