© Contributed by Business Today Cryptocurrency Price Today: Bitcoin Approaches $26,500; Ethereum drops below $1850; Polygon and Solana added 3%.Bitcoin and other major crypto tokens joined on Friday, not moving much after the Security and Exchange Commission (SEC) lawsuit against exchange giants Binance and Coinbase earlier this week. Inflation and central bank aggressiveness weighed on confidence as the stress continued.
Bitcoin has seen some recovery as the largest crypto token surged by one percentage point to hit the $26,500 mark. Its biggest competitor, Ethereum, was in the green but slightly above, below the $1,850 mark. Other altcoins also joined, but activity was considered limited.
“The cryptocurrency market has experienced volatility this week, with Bitcoin and Ethereum trading at $26,400 and $1,840, respectively. Web3 initiatives in Asian countries are starting to have an impact. On-chain data shows Asia has outpaced America in terms of active capital in the bitcoin and cryptocurrency markets,” CoinDCX said. The research team said.
US companies own 11% fewer bitcoins than in June 2022, while Asian companies increased their holdings by nearly 10% over the same period. The decline in US dominance began in 2021 and turned negative in mid-2022, coupled with the collapse of the Earth/Moon ecosystem and increased regulatory pressure.
Major crypto tokens traded in different directions on Friday, but this move was picked up on from other sides. Polygon is the growth leader, up 3%. Solana is up 2%, while XRP and Tron are up more than 1% each. Among the losers, Shina Inu, BNB and Litecoin each lost one percent.
The global market capitalization of kriptovalyutnogo has grown, reaching 1.11 trillion dollars, an increase of half a percentage point over the past 24 hours. However, total transactions were down more than 31% to $26.26 billion.
Image: Crypto-chart-price
Technical summary of the Giottus cryptographic platform
BNB faces turmoil after SEC lawsuit. It is now trading at $260 after trying to pull back to $285. There is a possibility that the price could drop to the $250 level in the coming days. BNB will be bullish in the near term if it can break the $285 resistance level after the correction.
Image: Chart-BNB
With enough buying activity, a break above $300 would lead to a target of $340. The RSI of BNB is currently at 21.4, which indicates that the asset is currently in oversold territory. If BNB fails to clear the $285 barrier, $250 will act as an initial support level with strong support at $220.
Main steps:
Support: $250, $220.
Resistance: $285, $300, $340
(The opinions and recommendations in this section are those of analysts and do not reflect the views of Business Today. Please consult your financial adviser before taking any position in these businesses.)
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