Cryptocurrencies Gain For Third Day Amid Positive Trends In Global Markets

Cryptocurrency prices gained for a third day straight on Friday amid positive trends in global markets.

World’s most popular and largest cryptocurrency Bitcoin was trading 2.23 percent higher at $23,805.5 earlier in the day. Bitcoin’s market capitalisation was at $454.66 billion, while the trade volume was at $40.5 billion in the past 24 hours. The crypto token has grown 3.05 percent in the last seven days.

Edul Patel, CEO and co-founder of Mudrex, said that if the bull rally in Bitcoin continues with limited sell-offs, BTC might reach $25,000 in near future.

A WaxirX analyst said, “The daily trend for BTC continues to traverse within a descending channel pattern, although being on an uptrend. The next key resistance level for BTC is expected at $32,300. We could see this bullish trend to continue for the next few days.”

Second-largest virtual currency Ether was 3.35 percent up at $1,713.86 with market capitalisation of $208.27 billion. Trade volume of Ethereum was $27.93 billion in the last 24 hours.

On Ethereum Patel said, “If bulls can hold Ethereum at the current level today , we might see it testing the $1,7000 level, which can lead to the $2,000 level in the coming week.”

WazirX analyst said that the daily trend for Ethereum has broken out of pattern and surging ahead.

Meme crypto Dogecoin was 5.24 percent up with a trade volume of $665.09 million in 24 hours. Shiba Inu was trading 4.93 percent higher at $0.000012 while Solana was 7.43 percent up at $43.08 billion.

Indian headline indices made a gap up opening on Friday.

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