Crypto Price Today: Bitcoin Price sticks around $30,000, Ethereum Price at $1850

Key Takeaways

• The Bitcoin price maintained a consolidated trend throughout the weekend, holding levels above $30,000.
• The altcoins are also compelled to trade within a narrow margin, just below their respective resistance levels.
• Technicals and the current trade setup display fewer chances of a bullish breakout, due to which the tokens may continue to maintain a consolidated trend.

CRYPTO MARKET TODAY AT A GLANCE

The market participants appear to be doubtful of the upcoming price action, due to which the majority of the tokens are consolidating just above the major support. The global crypto market cap has plunged by 1.11% and stands at $1.17 trillion, while the trading volume is around $21.53 billion, with a decent rise of 6.63%. The star crypto, Bitcoin, has sustained above the lower support at $30,000 but has failed to reclaim the crucial resistance at $31,000 over the past weekend. 

Besides, the altcoins appear to be following the flagship crypto, as they tend to maintain a consolidated trend. Ethereum has also remained stuck close to $1850 levels, recording a minor pullback in the past 24 hours. The other popular cryptos like BNB, XRP, ADA, DOGE, SOL, MATIC, LTC, etc, have also recorded a drop of 1.16%, 0.89%, 2.76%, 2.08%, 3.31%, 0.8% and 4.42% respectively. While Compound (COMP) price leads the top gainers with a surge of 10.89%, Conflux (CFX) suffers, being the top loser within the top 100 with a 6.54% loss. 

*As of 10-July-2023, 08:15 am

Bitcoin Price Lingers Around $30,000

Source: Tradingview

• The Bitcoin price continues to trade within a parallel channel along the lower support, displaying the possibilities of remaining consolidated along the lower support.
• The 50-day MA levels have been acting as immediate resistance for a while now and are expected to remain consolidated below these levels for some more time.
• As the volume remains lower and RSI is largely stagnant, the price may continue to hover within a narrow range.
• Fewer chances of a breakout may be expected until the day’s close, as the markets have remained less volatile for the past couple of days.

Read More: Bitcoin Price Prediction

Ethereum Price Flash Bearish Signals

Source: Tradingview

• The Ethereum price has maintained an ascending trend throughout the past week but failed to reach the resistance close to $2000.
• After falling below $1900, the price has maintained a consolidated trend of around $1850, maintaining a sideways trend for some more time ahead.
• Besides, the ADX, which signifies the strength of the rally, and the Bull-Bear power, both have displayed a bearish reversal, which may not be in favor of bulls ahead.
• Therefore, the ETH price may break down from the ascending trend line and accumulate above the lower support until market conditions ease a bit and continue to trade below these levels for a while

Additional Read: Ethereum Price Prediction

Latest Updates of the Crypto Market

• Bitcoin ordinals have seen a significant surge in both sales and active buyers, with 129.5% growth in sales, attracting more than 10% of buyers.
• A popular on-chain firm, Crypto Quant, raised a fresh $6.5 million in a Series A round led by Atinum Investment. 

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