Crypto Price Today: Bitcoin holds above $26,100; Litecoin, Tron surge up to 3%

The crypto tokens were trading flat in Monday's trade. Bitcoin, Ethereum, XRP, Tron, and Litecoin were trading with marginal gains, while Dogecoin, Shiba Inu, and Solana were trading with cuts.

Bitcoin (BTC), the world's biggest and best-known cryptocurrency, rose 0.06% to $26,124, whereas Ethereum (ETH) was above the $1,650 level.

"The trading price of Bitcoin has been above the $26,000 threshold. The fall from trading above the $29000 level could be because of traders collectively selling tokens due to several unconnected catalysts like a lack of clarity in the Grayscale v/s US SEC case for a Bitcoin ETF, SpaceX writing down the value of their Bitcoin reserves, and China’s Evergrande group filing for bankruptcy," said Edul Patel, CEO & Co-Founder of Mudrex.


The global cryptocurrency market cap was trading flat around $1.06 trillion, rising 0.03% in the last 24 hours.

The market cap of Bitcoin, the world's largest cryptocurrency, was around $508 billion. BTC volume stood at approximately $9 billion, rising 12.42% in the last 24 hours.

Bitcoin’s dominance is currently 48.01%, a decrease of 0.12% over the day, according to CoinMarketCap.

"A bearish USD could have helped the movement of BTC/USD. Bitcoin technical parameters are showing bearish sentiment with “Three Black Crows” patterns, oversold RSI and MACD and a significant decline. Immediate resistance is at $26,200, while a break above $26,200 may target $26,800 and above. Conversely, a drop below $25,200 could lead to losses around $24,800," Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said.

Tech view by ZebPay trade desk

Bitcoin aims to find stability around the $25,000 range, but trader sentiment has become pessimistic after a notable 11% decline this week. Despite finding some support near $25,000, many analysts anticipate a further decline toward the critical $20,000 mark. This implies that traders are currently adopting a risk-averse approach in the short term.

Bitcoin has taken multiple supports in the past at the crucial level of $25,000 (Horizontal trendline & 50% Fibonacci Retracement). This time too, the prices have bounced slightly after testing the support and the lower longer shadow indicates buying around these levels. If it holds and sustains above $25k then we can expect the bulls to resume the up-move whereas a break and close below the support will lead to further downfall.

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.17 hours, IST on August 21, 2023)

Bitcoin $26,124 0.06%
Ethereum $1,680 0.78%
Tether $0.9997 -0.02%
BNB $216.39 -0.04%
XRP $0.5311 2.03%
Cardano $0.2705 1.44%
Dogecoin $0.06379 -0.40%
Solana $21.61 -0.75%
Polygon $0.5761 0.32%
Litecoin $66.53 3.34%
Polkadot $4.49 0.27%
Tron $0.07614 2.56%

Shiba Inu $0.000008314 -1.53%

(Note: Price change in last 24 hours)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)