Altcoins
Cryptocurrency Price on June 20: Bitcoin Holds Above $65,500, Altcoins Trade Mixed
Major crypto tokens showed mixed performance on Thursday. Bitcoin, Ethereum, BNB, XRP, Toncoin, Avalanche, and Chainlink posted gains, trading up to 2% higher. In contrast, Solana, Dogecoin, Cardano, Shiba Inu and Uniswap recorded losses, falling as much as 2%.
However, the global cryptocurrency The market capitalization increased marginally by 0.3% to around $2.39 trillion in the past 24 hours.
At 11:59 IST, Bitcoin was up 0.1% at $65,512, while Ethereum was above the $3,550 level.
Cryptocurrency tracker
“Bitcoin has consolidated above the $65,000 mark over the past 24 hours. The $65,500 level is now critical as bears are actively defending this zone. If BTC manages to break above this level, we could see an uptrend. decisive move above the $66,000 resistance could trigger a steady rise, pushing the price higher,” said Edul Patel, CEO of Mudrex. Meanwhile, Subburaj, CEO of Giottus, said: “Among altcoins, signs of recovery are emerging. Ethereum remains around $3,550, supported by news from the US SEC closing its investigation into the asset. BNB is close to recovering 600 dollars while Solana is struggling to stay above $130. In the last 24 hours, the market capitalization of Bitcoin, the world’s largest cryptocurrency, rose to $1.292 trillion Bitcoin is currently up 54.05%. BTC volume in the last 24 hours is down 45% to $19 billion.
Technical opinion by Rajagopal Menon, Vice President, WazirX
Bitcoin technical indicators are showing mixed signals today. The Relative Strength Index (RSI) is at 40, suggesting a neutral stance. However, the Moving Average Convergence and Divergence (MACD) is at -569, indicating bearish conditions and underlying selling pressure. There appears to be a major support level at $64,500. Despite this, more bearish activity is seen around the next support level at $64,800.
On a more positive note, Bitcoin remains above its 100-day EMA, signaling bullish sentiment. Additionally, long-term price indicators suggest strong support, reinforcing a potential positive outlook for the cryptocurrency.
(Disclaimer: The opinions expressed by experts are their own and do not necessarily reflect those of The Economic Times)