New Delhi: The prices of major cryptocurrencies continued to remain under pressure amid rising inflation and geopolitical worries.
The correction in altcoins was steeper and sharper compared to the larger tokens. The rising cost of energy and disruption in the supply chain is hurting the sentiments further.
All of the major crypto tokens were in the red on Tuesday. Solana and Shiba Inu dived about 9 per cent each, whereas Cardano and Dogecoin shed 8 per cent each. Terra fell 7 per cent, followed by Ethereum which declined 6 per cent.
The global cryptocurrency market cap tumbled to $1.83 trillion, dropping as much as 6 per cent in the last 24 hours. However, total cryptocurrency trading volume increased by almost 58 per cent to $101.03 billion.
crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 8.35 hours, IST on April 12, 2022)
rypto trading volumes of India’s major exchanges have nosedived since April 1, the day a new tax on crypto profits came into effect, according to data collected by Crebaco, a cryptocurrency research firm.
Expert take
Edul Patel, CEO and Co-founder of Mudrex said that Bitcoin and Ethereum have lost nearly 6 per cent to trade below $40,000 and $3,000, respectively.
"Most cryptocurrencies also sank significantly over the past day. The situation could be attributed to the rising inflation levels and economic declines across the world," he added.
Bitcoin has fallen below $40,000, its first support. Now, its next support level is at $37,500. It is approaching the o ..
If the broader crypto market experiences a resumption of bullish sentiment, $147 and even $160 are achievable targets for SOL. With its strong fundamentals and large community, SOL may therefore be a compelling long-term buy for many at current levels.
Major levels
Support: $95, $90
Resistance: $120, $147, $168
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before ..
do you also want to know the secret of trading and how not to lose money ?
click here ~tinyurldotcom/f33wjb2t (copy this link and paste to new tab and remove "dot " and aaply actual "." )
Your post was upvoted and resteemed on @crypto.defrag
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit