Bitcoin, Ethereum And Other Tokens Fall

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Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, was marginally down at $16,725.8 on the last count. Its market value stood at $322.8 billion. The trade volume was at $11.6 billion. The token has fallen nearly one percent in the last seven days. 

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“To regain the initiative, bulls must push the price above the $16,800 level. However, it is unlikely that we will see a quick reversal at this time, as Bitcoin has not yet gathered enough strength,” said Edul Patel, CEO and Co-Founder of Mudrex.

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Ethereum | The second largest virtual currency, Ethererum or Ether, fell 0.2 percent to $1,183.8 with a market capitalisation of $145.5 billion. The trade volume of Ethereum was $3.8 billion in the last 24 hours. The token has slumped 5.3 percent in the last one week. 

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On Ethereum, Patel said, “Ethereum experienced significant outflows due to increased selling pressure. Its resistance is currently at the $1,222 level, while support is at the $1,160 level, which could help buyers regain momentum.”

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Dogecoin | Meme-based virtual currency, Dogecoin, fell 1.3 percent to $0.1. Its market value stood at almost $10.4 billion. The trade volume was at $264.1 million.

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Solana | Solana plunged 4.6 percent to $4.6 with a market capitalisation of $4.6 billion. The trade volume of Solana was $116.3 million in the last 24 hours.

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Shiba Inu | Shiba Inu fell 1.3 percent with a market capitalisation of $4.7 billion. The trade volume was $179.4 million in the last 24 hours.

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Polygon | Polygon fell 0.4 percent to $0.8 with a market capitalisation of $7.1 billion. The trade volume was $181.1 million in the last 24 hours.