Cryptocurrency prices today: Bitcoin, Ether face resistance as market remains steady
Cryptocurrency prices have been steady over the past 24 hours due to lower trading volumes. Check the latest cryptocurrency prices and trends.
Cryptocurrency prices have remained steady over the past 24 hours, maintaining a steady momentum even as the virtual coin market is expected to remain rangebound.
Bitcoin, the world’s most popular cryptocurrency, dipped slightly over the past 24 hours as it faced some resistance around its inflection point of $49,000.
The popular cryptocurrency was trading at $48,381 or 1.66 per cent lower at around 1:10 pm. Bitcoin’s market capitalisation stood at $914 billion and the 24-hour trade volume was $809.82 million.
Ether, the native token on the Ethereum platform, also faced some resistance as it remained below $4,000. Ether was trading at $3,947, down over 2.50 per cent over its price 24 hours ago. Ether’s market capitalisation fell slightly to $464.08 billion and the 24-hour trade volume stood at $666 million.
All other small cryptocurrencies remained stable, with marginal change in prices. Commenting on the crypto market momentum, Edul Patel CEO and Co-founder of Mudrex a Global Algorithm-based Crypto Investment Platform, said market could remain rangebound for over the next 24 hours.
“We saw both Bitcoin and Ether facing some resistance around their inflection points at $49,000 and $4000 respectively. It caused the rest of the cryptocurrency market to remain range bound,” Patel said.
“Although the traded volumes went higher, and the momentum looks steady, we might some range bound movement over the coming 24 hours,” he added.
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