Bitcoin’s price on Tuesday bounced back and was trading over the $40,000-mark. Other major cryptocurrencies, including Ethereum, were trading in green, according to data on CoinDesk.
On Monday, Bitcoin touched a five-week low of $38,547. However, the world’s largest cryptocurrency bounced back.
Ethereum also dropped below $3,000 on Monday but the world’s second largest cryptocurrency by market capitalization rebounded.
BITCOIN PRICE TODAY
Bitcoin price was up by 4.46 per cent at $40,713. Ethereum price was up by 4.23 per cent at $3,042.
“Bitcoin and Ethereum bounced back to US$40,000 and US$3,000 after reaching US$38,000 and US$2,900 levels on Monday. BTC appears to be stabilising itself after a brief period of a downward trend. BTC’s support stands at US$37,000, while resistance holds at US$45,000, which shows the signs of bullish activity due to oversold conditions,” Edul Patel, CEO and Co-founder of Mudrex, said.
CRYPTOCURRENCIES PRICES LATEST
XRP was up by 4.85 per cent, Terra rose by 16.30 per cent, Solana was up by 4.39 per cent, Avalanche rose by 6.14 per cent, Caradano rose up by 4.82 per cent, Stellar was up by 6.90 per cent, and Polkadot was up by 5.22 per cent.
Other popular alt coins like Dogecoin was up by 3.64 per cent and Shiba Inu rose by 3.65 per cent.
“On the other hand, Terra has become the third-largest stablecoin gaining almost 14 per cent over the past day. STEPN has increased by about 38 per cent for its Green Metaverse Token,” Patel said.
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