Cryptocurrency Price Today: After days of dullness, the global cryptocurrency market on Monday, July 18, finally showed some glimmer of hope as it edged towards the $1 trillion mark again after around a month. The cryptocurrency market cap on Monday was $998.41 billion, making for a 2.27 per cent increase over the past day, data showed while writing this article. This was fuelled by the gains made by major cryptocurrencies including Bitcoin, Ethereum, Solana and others, which gained up to 25 per cent over the last week.
Bitcoin price today edged past the $21,000 mark and touched nearly $22,000 while writing this article, as market sentiments improved regarding the world’s largest cryptocurrency. Bitcoin was trading at $21,890.50 at 1211 IST, up by 2.44 per cent in the past 24 hours, and by 7.19 per cent in the last seven days.
‘The weekend saw Bitcoin crossing and maintaining its position above the $21,000 level. The market sentiment towards BTC improved in the last couple of days edging over 20, whilst still remaining in the “extreme fear” zone. The 12- hourly chart for BTC has formed a distinctive channel pattern. The next resistance level for BTC is expected at $32,300 and an immediate support level is expected at $17,700. The weekly RSI has edged above 30 for the first time in over a month,” said analysts at the WazirX trade desk.
“Most cryptocurrencies fluctuated over the weekend as bears have become active. Despite the decline, Bitcoin remained above the US$20,000 level, indicating that the selling volume has come down. BTC will likely trade between US$20,000 and US$21,000 in the coming days,” added Edul Patel, CEO and co-founder of Mudrex.
Ethereum emerged as the highest gainer among the top 10 cryptocurrencies in the past seven days as the altcoin traded higher by 25.70 per cent over this period, data from CoinMarketCap showed at 1211 IST. Ethereum price today at the time of writing this article was standing at $1,433.74, a jump of 5.81 per cent over the past 24 hours.
“Ethereum surged by nearly 14% in the last week, eventually breaking above its key resistance level of $1,280. The token gained another 6% early today to edge above the $1,400 mark. The recent uptrend is mainly due to the extensive testing around the soon to arrive Ethereum merge which will transition its algorithm from Proof-of-Work(POW) to Proof-of-stake(POS),” said the WazirX analysts.
“The second largest cryptocurrency, Ethereum, has gained nearly 17% over the past seven days trading above US$1,300 for the first time in a month as the Merge draws nearer. Interestingly, Ethereum led the rally in the past week despite BTC’s dominance over the market,” noted Patel.
Here are the top 10 cryptocurrencies and their prices on July 18 2022, Monday, (According to data from coinmarketcap.com)
Bitcoin $21,890.50 or 2.44 per cent gain in the last 24 hours
Ethereum $1,433.74 or 5.81 per cent gain in the last 24 hours
Tether $0.9998 or 0.00 per cent loss in the last 24 hours
USD Coin $0.9999 or 0.02 per cent loss in the last 24 hours
BNB $257.69 or 1.84 per cent gain in the last 24 hours
XRP $0.3637 or 2.31 per cent gain in the last 24 hours
Binance USD $0.9993 or 0.23 per cent loss in the last 24 hours
Cardano $0.4387or 0.82 per cent loss in the last 24 hours
Solana $37.15 or 0.18 per cent gain in the last 24 hours
Dogecoin $0.06246or 0.40 per cent gain in the last 24 hours