Bitcoin Below $21,000, Ethereum Hold Above $1,500

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Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, fell 1.4 percent to $20,486.9. Its market value stood at $393.2 billion. The trade volume was at $32.8 billion. The token has fallen 5.4 percent in the last seven days. 

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“Bitcoin continues to trade below the $21,000 level as bulls have lost control in the past 24 hours. If BTC can trade sideways this week, bulls may lose further and drop to the nearest support line. If demand grows slightly today, we might soon see BTC retesting the $21,000 level. If bulls lose momentum, BTC might go down to $20,300 and then to $19,600,” said Edul Patel, CEO and Co-Founder of Mudrex.

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Ethereum | The second largest virtual currency, Ethererum or Ether, fell 2.5 percent to $1,581.2 with a market capitalisation of $192.7 billion. The trade volume of Ethereum was almost $14.8 billion in the last 24 hours. The token has surged 16.3 percent in the last one week. 

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On Ethereum, Patel said, “If ETH can maintain the gains, we can see it reaching its next resistance at the $1,600 mark. If bears cannot seize the initiative, the rise might continue this week which can lead to a test of the $1,700 zone.”

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Dogecoin | Meme-based virtual currency, Dogecoin, fell 3.7 percent to $0.1. Its market value stood at almost $16 billion. The trade volume was at $7.7 billion. The virtual currency has jumped over 100 percent in seven days.

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Solana | Solana fell a little over a percent to $32.7 with a market capitalisation of $11.7 billion. The trade volume of Solana was $818.3 million in the last 24 hours.

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Shiba Inu | Shiba Inu slumped 7.5 percent with a market capitalisation of $6.6 billion. The trade volume was $1.1 million in the last 24 hours.

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Polygon | Polygon fell 2.8 percent to $0.8 with a market capitalisation of $7.7 billion. The trade volume was $353.1 million in the last 24 hours.