Top cryptocurrency prices today: Bitcoin, Ethereum, Polkadot jump up to 10%

New Delhi: After a strong correction, the cryptocurrency market regained some strength on Monday as buyers lapped up digital token at lower levels. Top cryptos have corrected more than 25 per cent from their recent peak.

Barring the dollar-pegged Tether, all other nine out of the top 10 digital tokens were trading higher. Bitcoin and Ethereum surged up to 7 per cent each, whereas Polkadot rallied 10 per cent.

The global crypto market cap added more than a per cent to $2.46 trillion mark compared to the last day. However, the total crypto market volume tanked about 4 per cent to $101.58 billion.


Bitcoin tumbled about a fifth from the record high it notched earlier this month as a potentially worrisome new variant of the coronavirus spurred traders to dump risk assets across the globe.


Tech View by Proassetz Exchange
BTC is continuing to exhibit a lower top formation on the daily as well as 4-hour charts, implying the intermediate downtrend to be continuing.

Prices are trading below the 50-day average and taking support at the 100-day average ($54135). An intermediate downtrend line drawn from the Nov top of $69,000 summarizes the technical set up as shown in the diagram.

However, the momentum indicators of 50- & 100- day ROCs are still trading in their positive territories above zero line and conveys that the intermediate downtrend might have exhausted and a breakout above $59,400 will confirm this trend reversal. If it so happens, $60600 will be the next resistance for BTC.

Major Levels
Support: $0.108, $0.104, $0.098
Resistance: $0.12, $0.123, $0.129

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(Time is in UTC and the daily time frame is 12:00 AM - 12:00 PM UTC)
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