Bitcoin made modest gains, rising approximately 1% to near $27,000 levels, while Ethereum increased little to hold its position over the $1,600 barrier.

Bitcoin and other crypto currencies were trading higher on Tuesday ahead of the Federal Reserve’s policy meeting, which is likely to preserve the status quo. Bitcoin’s market share in the crypto market has risen to above 50%, the most in the last 26 months.

Bitcoin made modest gains, rising nearly 1% and closing close on $27,000 after briefly touching it. Ethereum, its largest peer, also increased modestly to maintain its position over the $1,600 level. In the early hours, the price action in altcoins remained bullish.

The crypto market has traded sideways with an upward bias in the last 24 hours. It has been another positive day for Bitcoin as it touched $27,400 before pulling back slightly, In fact, the last 8 days have been pretty positive for the crypto market with Bitcoin rebounding about 10 per cent from its recent lows.

Other cryptos worth highlighting are Solana and Chainlink as they have been showing significant momentum ever since the market started to recover. With giants like financial service provider SWIFT using Chainlink’s infrastructure, we can see a significant upside if this momentum continues.

With a few exceptions, all of the biggest cryptocurrency tokens were trading higher on Tuesday. Toncoin increased by around 5%, while Solana increased by about 4%. Litecoin gained more than 3%, while XRP and Cardano gained 2% each. Among the losers were BNB, which fell by roughly 1%, as well as Polkadot and Shiba Inu.

The worldwide cryptocurrency market cap was trading slightly higher, climbing to $1.07 trillion, after rising approximately 1% in the previous 24 hours. However, total trade volumes increased by more than 63% to $30.13 billion.

As the FOMC interest rate decision hangs over the cryptocurrency markets this week, the markets for digital currencies were trading lower on Monday.

Ethereum (ETH) fell below the 1,900 mark while Bitcoin (BTC) fell 0.42% to $29,793. BTC volume was at $10 billion, up 22.28% over the previous day.

At about $29780, Bitcoin is still trading below the $30000 threshold. Over the weekend, Bitcoin’s price did not increase by nearly $300,000. The US SEC chair’s unhappiness by the case’s loss and rising selling pressure may be to blame for the recent price decrease.

Given that the FOMC’s decision on interest-rate policy is due on Wednesday, there may not be much volatility this week.

The price of other popular crypto tokens also decreased. In addition to XRP, BNB, Cardano, Dogecoin, and Solana, prices were falling. The market capitalization of all cryptocurrencies was trading lower, at $1.19 trillion, down 0.49% over the previous 24 hours.

$2.41 billion, or 9.91% of the 24-hour volume of the entire crypto market, is the total volume in DeFi at the moment. All stablecoin volume is currently $21.26 billion, or 87.44% of the 24-hour volume of the whole crypto market.

The largest cryptocurrency in the world by market cap, Bitcoin, was valued at over $578 billion. According to CoinMarketCap, Bitcoin presently has a 48.58% market share, up 0.04% from the previous day.

The $31,000 resistance level has proven to be difficult for Bitcoin to overcome, but it has also found support around the $29,500 level. Lack of a clear breakout suggests a phase of consolidation during which the price moves back and forth within a range.

Additionally, the price of bitcoin has been trading below the short-term resistance level represented by the 20-day exponential moving average ($30,036). Bitcoin’s strong resistance level is $32,500, while its strong support level is $28,500.

Cryptocurrency Price Today

Bitcoin Price Today | $29,787

Ethereum Price Today | $1,870

Tether Price Today | $1

BNB Price Today | $241

XRP Price Today | $0.7263

Cardano Price Today | $0.3132

Dogecoin Price Today | $0.0713

Solana Price Today | $24.4

Polygon Price Today | $0.7415

Litecoin Price Today | $92.39

Polkadot Price Today | $5.34

Tron Price Today | $0.08126

Shiba Inu Price Today | $0.000007789

(Note: Price change in last 24 hours)

Quick analysis of the cryptocurrency pricing on June 16: The worldwide market capitalization was $1.04 trillion.

Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, stayed below the $26,000 mark on Friday. Other major altcoins, like as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL), had a combination of gains and losses. KuCoin Token (KCS) was the highest gainer, gaining more than 13% in 24 hours. Hedera (HBAR), on the other hand, became the greatest loser, with an almost 8% drop in a 24-hour period.

At the time of writing, the worldwide crypto market valuation was $1.04 trillion, up 1.17 percent in 24 hours.

Bitcoin Price Today
According to CoinMarketCap, the price of bitcoin was $25,565.04, representing a 2.27 percent gain in a 24-hour period. BTC was trading at Rs 22.70 lakh on the Indian market WazirX.

Ethereum Price Today
At the time of writing, the price of ETH was $1,667.02, representing a 1.14 percent 24-hour rise. According to WazirX, the current price of Ethereum in India is Rs 1.48 lakh.

Dogecoin Price Today
DOGE gained 2.81 percent in a 24-hour period, according to CoinMarketCap data, and is now trading at $0.06173. According to WazirX, the Dogecoin price in India is Rs 5.54.

Litecoin Price Today
Litecoin gained 3.04 percent in a 24-hour period. It was trading at $75.19 at the time of writing. In India, the price of LTC was Rs 6,506.93.

Ripple Price Today
The price of XRP was $0.4804, down 0.23 percent in 24 hours. According to WazirX, the current price of Ripple is Rs 42.90.

Solana Price Today
Solana price was $14.80, representing a 0.70 percent decline in a 24-hour period. According to WazirX, the SOL price in India was Rs 1,364.

Since the start of the new year, the price of bitcoin has risen by 3%.The price of Ethereum could recover to $1,400, the midpoint of its trading range in October.The price of XRP is trailing that of ETH and BTC, but it has the potential to explode for significant gains.The cryptocurrency market is making a turn that could lead to more uptrend gains. Still, in the current environment, a countertrend trade is extremely risky, and one should manage their own risk accordingly.

Bitcoin’s price is likely to rise.

Bitcoin price is sending out positive signals, as the peer-to-peer digital currency has risen by 3% since the start of 2023. The bulls established a higher pivot point at $16,333 on December 30 compared to the previous bearish attempt, which was halted at $16,256 on December 19.

Bitcoin is currently trading at $16,854, up 1% on the day after falling just $9 short of the psychological $17,000 barrier. As the market enters its final hour on January 4th, the BTC price appears poised to settle above the recently breached 21-day simple moving average (SMA) at $16,750.

As a result, sidelined bulls may begin to re-enter the market, challenging key levels within December’s trading range. Finally, the December swing high of $18,387 may be challenged, resulting in a 9% increase in BTC’s current market value.

A daily close below the recently breached 8-day exponential moving average (EMA) at $16,500 would rule out the possibility of the newly established uptrend rallying further. As a result, the 2022 low of $15,476 may be liquidated, resulting in a 9% drop from the current Bitcoin price.

The price of Ethereum has entered the October range.

Since the start of the new year, the price of Ethereum has risen by 6%. The bulls have produced a bullish engulfing candle back into the October support zone, bolstering two previous countertrend rallies. The decentralised smart-contract token, like Bitcoin, surpassed both the 8-day exponential and 21-day simple moving averages during its upward move on January 4th.

The current price of Ethereum is $1,216. The current rise is only a 23.6% retracement of the October swing low and swing high, according to a Fibonacci retracement tool. If the market is truly bullish, bulls should be able to rally to the midpoint of October’s trading range at $1,400, resulting in a 12% gain.

A closing candlestick below the recently colliding moving indicators at $1,210 would invalidate the bullish thesis. If the bears break through, they could re-route south and challenge December’s low of $1,150, resulting in a 7% drop.

The price of XRP lags, but it could be the dark horse of the three.

XRP has not joined the bullish trend seen in the other two cryptocurrencies. Ripple is currently trading between the 8-day EMA and the 21-day SMA, with a 1.5% increase in market value since the beginning of the year.

The current XRP auction price is $0.3485. Traders should keep an eye on the recent swing high of $0.3605. Bulls may be waiting for a second attempt to break through the barrier. The $0.37 and $0.4000 swing highs established on December 13 and 27, respectively, would be key liquidity zones of interest. The bullish scenario would imply a 14% increase from Ripple’s current market value.

If the bulls break through $0.3600, the uptrend will be invalidated at the $0.3000 swing low established on January 2. A break of the low would nullify the bullish potential and allow the bears to target the 2020 liquidity levels near $0.2700 and possibly $0.2500, resulting in a 30% drop from Ripple’s current trading price.