Last Updated: May 17, 2022, 13:19 IST
Cryptocurrency Price Today: The cryptocurrency market in the global scenario is slowly recovering amid an extremely volatile situation. The cryptocurrency market has remained flat in the past 24 hours, according to data. Major coins including Bitcoin, Ethereum and Cardano remained flat over the past days in a situation that is fuelled by inflation and supply chain issues. For this, Investors have been extremely reluctant of investing in digital assets as the market sentiment on the Fear and Greed Index has touched a new low.
The global cryptocurrency market cap was $1.30 trillion on Tuesday, May 17, at the time of writing this article, an increase of 2.36 per cent over the day, as per data from CoinMarketCap. Meanwhile, Bitcoin price today was $30,408.90 at the time of writing this article. This was a 2.71 per cent increase in the last 24 hours. On the other hand, Ether price today also rose by 2.76 per cent in the last 24 hours, to stand at $2,078.71 at the time of writing this article.
“Bitcoin continued to consolidate around the $30,000 level. The market sentiment, however, has dropped to 8 on the Fear and Greed Index, falling to one of its lowest points. Meanwhile, the addresses holding 1 or more BTC has reached an all time high, an indication that the markets may bounce back from this level, according to expert analysts,” said the WazirX Trade Desk.
“BTC’s movement was more or less flat over the last 24 hours, as it was priced at $30,000 levels. Prices of many altcoins dropped, indicating a lower risk appetite among traders,” added Darshan Bathija, CEO and co founder of Vauld.
“The weekly chart for BTC has broken below the long-formed ascending channel pattern. The next resistance for BTC is expected at $40,000 and an immediate support is expected at $24,000. The RSI for BTC continues to remain in the oversold zone,” further said the WazirX Trade Desk.
“There were a few signs of optimism in the BTC markets. According to data from IntoTheBlock’s In/Out of the Money Around Price (IOMAP) model, levels at $29,500 near were a strong support range as approximately 366.430 BTC were being held by roughly 481.910 addresses. Attempts to push the price below these levels could be met by buying from these investors who may want to increase their profits,” said Bathija.
Here are the top 10 cryptocurrencies and their prices on May 17, 2022 (data from coinmarketcap.com)
Bitcoin $30,408.90 or 2.71 per cent gain in the last 24 hours
Ethereum $2,078.71 or 2.76 per cent gain in the last 24 hours
Tether $0.9989 or 0.00 per cent gain in the last 24 hours
USD Coin $1.00 or 0.04 per cent gain in the last 24 hours
BNB $306.39 or 4.31 per cent gain in the last 24 hours
XRP $0.434 or 4.72 per cent gain in the last 24 hours
Cardano $0.58 or 3.78 per cent gain in the last 24 hours
Solana $56.73 or 5.89 per cent gain in the last 24 hours
Binance USD $0.9999 or 0.18 per cent loss in the last 24 hours
Dogecoin $0.08999 or 2.92 per cent gain in the last 24 hours