bitcoin price: Top Cryptocurrency Prices Today: Bitcoin, Ethereum, Polkadot gain up to 4%

    New Delhi: Major Cryptocurrencies traded higher at 9.30 hours IST on Monday. Only two out of the top 10 digital currencies — Tether & USD coin — were trading in red. Earlier on Sunday, Bitcoin and other top cryptocurrencies had fallen on concerns that there may be a further crackdown on the industry in China.

    Chinese social-media service Weibo suspended some crypto-related accounts. Chinese authorities have recently cautioned on crypto trading and mining, which have put pressure on prices.

    “We are currently witnessing stability in the cryptocurrency market. If we consider the past two weeks, prices of both BTC and ETH have been range bound. Consolidation is good as it allows the market to build up the momentum. Among the Altcoins, it might be an interesting week for Ripple and Dogecoin,” Edul Patel, CEO and Co-founder, Mudrex.

    Meanwhile, over 12,000 participants descended on Miami to attend a two-day Bitcoin conference the city hosted. Miami is hoping to become the next cryptocurrency hub. In this conference, Nayib Bukele, President of Central American nation El Salvador said that he will send proposed legislation to the country’s congress that would make the cryptocurrency legal tender this week.

    ZebPay Trade Desk’s Tech View
    Bitcoin (BTC), the leading asset by market capitalisation, has been pretty range-bound over the past week. After witnessing a major correction a few weeks back, the asset seems to have gained some stability, trading in the range of $35,000 – $38,500. BTC currently trades at $36,700. Volumes have seen a slight dip over the last week, but that could be a result of the bearish stance in the marketplace.

    However, the past couple of days have been positive for the asset as we have seen an upside in volumes, signaling that bearish sentiment is diminishing and bulls are buying in at higher levels. BTC hasn’t seen a major rally since the market reset, and this seems unlikely to happen very soon, and we anticipate a gradual recovery to continue.

    Bitcoin, last week showed good signs of recovery, though the asset tested resistance multiple times but failed to break and sustain above it. Technically, on the 12-hour time frame, BTC is trading sideways in a ‘Symmetrical Triangle’ pattern (During this period of indecision, the highs and the lows seem to come together at the point of the triangle with virtually no significant volume). Hence, Breakouts on either side with good volumes will further decide the trend.

    Major levels

    Support: $33,850 and $31,111

    Resistance: $40,000 and $42,500

    Time is in UTC and the daily time frame is 12:00 AM – 12: 00 PM UTC

    (Views and recommendations given in this section are the analysts’ own and do not represent those of Please consult your financial adviser before taking any position in the asset/s mentioned.)

    Related articles



    Please enter your comment!
    Please enter your name here

    Share article

    Latest articles

    Atlantis Exchange Received 30,000,000 Advanced Bitcoin as Liquidity

    SEATTLE, WA, May 20, 2022 /24-7PressRelease/ — Atlantis Exchange is pleased to announce that a deposit of 30,000,000 Advanced Bitcoin (“aBTC”), a green cryptocurrency...

    These indicators show how the equities sell-off is influencing crypto prices to fall down

    Cryptocurrencies experienced on May 10 a large market crash, losing over 10% in a single day of most of the coins. This is the...

    Xendit Raises $300M to Grow Payments Platform

    Southeast Asia payments platform Xendit closed a $300 million Series D funding round that brings its total investment capital since 2015 to $538 million,...

    Top Cryptocurrency Prices Today, May 20: After crypto crash, Bitcoin, ETH, Solana, ADA, Polkadot, Matic rise upto 6%

    Top Cryptocurrencies of the World Prices Today in India (May 20, 2022): The global crypto market cap recovered 2.87% in the last 24 hours...

    Ethereum to Merge in August as Final Testing Begins

    The Merge is a milestone upgrade that transitions the Ethereum network consensus mechanism from proof-of-work mining to proof-of-stake (PoS). It is a significant step...


    Subscribe to stay updated.