Major Cryptocurrency tokens extended losses on Monday, after showing volatile trends last week.
World’s most popular and largest cryptocurrency Bitcoin was trading 0.9 percent down at $19,091.2 at 8:21 am. Bitcoin’s market capitalisation was at $366.1 billion, while the trade volume was at $16.9 billion in the past 24 hours. Bitcoin fell 9.3 percent in the last seven days.
A WazirX analyst said, “The daily trend for BTC is traversing within a descending channel pattern. The next key support is expected at $14,000. The daily RSI is a tad below the 30 level, reeling in the oversold zone.”
Source: WazirXSecond-largest virtual currency Ether was over half a percent down at $1,055.1 with market capitalisation of $129.8 billion. Trade volume of Ethereum was $8.7 billion in the last 24 hours. Ethereum has recorded a net decline of 12.25 percent in past one week.
Edul Patel Co-Founder CEO of Mudrex – A Global Crypto Investing Platform expects trading volumes to rise, as different nations slowly emerging out of the weekend. “Most of the top cryptos have been trading in a narrow consolidation and we might see a good move on either side, shortly,” he added.
Meme crypto Dogecoin, however, climbed 0.3 percent with a trade volume of $309.1 million in 24 hours. Shiba Inu was trading 0.6 percent lower at $0.00001 while Solana was half a percent down at $32.8 billion.
Indian headline indices made a mixed start mirroring the trends in other Asian equities.
