Crypto Price Today: Bitcoin Holds $20K Mark - Ethereum, Polygon & XRP get up to 4%

Crypto Price Today: Bitcoin Holds $20K Mark - Ethereum, Polygon & XRP get up to 4%
tradestation crypto


Bitcoin holds $20K mark; Ethereum, Polygon & XRP  get up  to 4%


New Delhi: Top crypto tokens were trading sideways on Thursday as investors fretted over new job figures and OPEC oil cuts.


Bitcoin held above the $20,000 mark, whereas Ethereum was seen marching towards the $ 1,400 mark again. However, economic factors including inflation and recession are likely to guide the riskier assets  within the  near term.


What's cooking in India

Many wealthy Indians are paying in cryptocurrencies  to shop for  properties in Dubai, with leading realtors  within the  emirate accepting the digital coins to cut deals.


Such transactions, though perfectly kosher in Dubai, which wants to position itself  because the  world's crypto capital, can  come  to haunt the property owners, most of whom are unmindful of the regulatory and legal pitfalls ahead


Tech View by Giottus Crypto Platform

Bitcoin (BTC) entered the $20,000 territory again on Wednesday with a daily close that overcame  an extended  trendline that has acted as resistance since November 2021. With another daily candle now closing above this trendline, combined with its RSI, an upward trend bouncing off its moving average,  this might  signal the end of new lows, temporarily  a minimum of .


For now,  an inexpensive  strategy may be to enter positions as BTC confirms its reclamation of the 50-day moving average at $20,300, with a stop loss below this key support and a target of about $22,000 - which is where BTC’s 100-day exponential moving average  is found .


Should that be overcome, the all-important 200-day moving average, located at about $26,500,  are often  the level all eyes will be on.

0 Comments