Bitcoin Down to $20,000 Again, Ether, Solana Prices Fall


Cryptocurrency Price Today: Major cryptocurrencies including Bitcoin, Ethereum as well as memecoins like Shiba Inu and Dogecoin lost their values on Monday, July 11, further taking the global cryptocurrency market to the red zone. The global cryptocurrency market continued to extend its weekend losses, as investors keenly wait for the US inflation numbers, falling by 2.95 per cent over the past 24 hours to stand at $915.25 billion.

Cryptocurrencies including Bitcoin, Ethereum, Solana, XRP and Polkadot stayed in red on the day. Bitcoin price today registered a value of $20,505.13 at 1052 IST, which is a plunge of 0.23 per cent over the past day, data from CoinMarketCap showed.

“Last week, Bitcoin was on an uptrend and had crossed the $22,000 level with the U.S. Feds saying that the recessional concern is exaggerated. However, BTC dropped below $21K through the weekend. On the 4-hourly time-frame, the BTC chart has broken out of the triangle pattern. However the trend has dropped marginally and it is retesting the pattern. The daily RSI that had earlier surged to 50, dropped to the 40 level in the last couple of days with extremely low trading volumes in the same period. The next key support for Bitcoin is at $14,000,” said analysts at the WazirX trade desk.

“Bitcoin, Ethereum, and most cryptocurrencies dipped over the past 24 hours due to an increase in the selling price on Sunday. Bitcoin has been down by nearly 4% since the last day. If bulls can keep the bar above the US$21,000 level, we might see sharp upward moves,” added Edul Patel, CEO and co-founder of Mudrex.

Meanwhile, Ethereum was comfortably holding on to the $1,100 mark. Ether price today was down by 0.00 per cent, to stand at $1,150.20 while writing this article. Ethereum prices fell by over 3 per cent since the last week.

“While on the other hand, as the price of Ethereum also falls, the revenue of projects based on the network is also plunging drastically. ETH has lost nearly 5%, and it is about to test its support level at US$1,200. If buyers lose control to sellers, we might see Ethereum falling to the US$1,000 zone,” said Patel.

“Ethereum has been closing in Red since the last 3 to 4 days, after it had begun an upsurge last week. ETH against Bitcoin has lost marginally in the last couple of days as Bitcoin’s dominance index crossed the 44% level. The weekly chart for ETH-BTC continues to traverse within an ascending channel pattern, trading at the support levels,” the WazirX analysts added.

Here are the top 10 cryptocurrencies and their prices on July 11, 2022, Monday, (According to data from coinmarketcap.com)

Bitcoin $20,505.13 or 0.23 per cent loss in the last 24 hours

Ethereum $1,150.20 or 0.00 per cent loss in the last 24 hours

Tether $0.9996 or 0.01 per cent gain in the last 24 hours

USD Coin $0.9999 or 0.01 per cent gain in the last 24 hours

BNB $231.68 or 0.06 per cent gain in the last 24 hours

Binance USD $1.00 or 0.16 per cent gain in the last 24 hours

XRP $0.3215 or 0.68 per cent loss in the last 24 hours

Cardano $0.4531 or 0.02 per cent gain in the last 24 hours

Solana $35.55 or 0.33 per cent loss in the last 24 hours

Dogecoin $0.06596 or 0.20 per cent loss in the last 24 hours

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