Crypto Price Today: Bitcoin holds $29,500; Ethereum regains $1,850; Shiba Inu rise 3% each

Bitcoin and other top crypto tokens were trading in red on Friday after better-than-expected US inflation data.  The two largest cryptocurrencies continue to shake off macro waves. Other than macroeconomic factors, analysts continue to eye $30,000-mark for the Bitcoin.

Bitcoin extended its fall as on Friday as the largest crypto token dropped about another per cent to slip below 29,500-mark once again. Its largest peer, Ethereum, was trading slightly lower but brached $1,850-levels after the latest weakness. Price action in the major altcoins was on the lower side.

Baring a few names, all other top crypto tokens were trading lower on Friday. Bitcoin Cash dropped more than 3 per cent, while Cardano dropped about 2 per cent. BNB, Litecoin and Polkadot shed over a per cent each. Among the gainers, Solana and Shiba Inu rose 2 per cent, while Tron added about a per cent.

The global cryptocurrency market cap was trading quite lower, falling down to $1.17 trillion-mark as it dropped almost a per cent in the last 24 hours. However, the total trading volumes dropped as much as 26 per cent to $25.84 billion.

Tech View by Giottus Crypto Platform:
BNBis currently moving sideways within a horizontal channel in the medium term. The candle sticks have inched closer to the $240 level in the past two days which coincides with its 50-day moving average.

If there is any upside momentum, additional gains could potentially drive the price towards the resistance levels of $250 and $265. Its RSI slope, moving sideways, indicates that the underlying buying pressure for BNB isn’t strong. On the downside, if BNB fails to withhold the $230 support level, it may revisit support zones at $220.

Major Levels:
Support: $220, $230
Resistance: $250, $265, $280


(Views and recommendations given in this section are the analysts' own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)