Crypto Price Today: Markets Consolidate, Bitcoin Price at $30,200, ETH Price Above $1900

Key Takeaways

• The past weekend turned out to be extremely bearish, as the markets dropped by over 4% to 5% 
• Regardless of the recent price variations, the Bitcoin price continues to trade within the same predefined margin
• The technicals continue to remain in bullish favor, but the dropped volume and volatility may be a matter of concern at present

CRYPTO MARKET TODAY AT A GLANCE

The crypto markets remained unchanged over the past weekend, with a reasonable crash just before the close. Nevertheless, the bulls are trying hard to maintain a fine upswing at the beginning of the week, but it appears to be tedious. The global crypto market cap has slashed below $1.22 trillion following the recent drop but is trying hard to sustain above $1.21 trillion. Besides, the trading volume has plunged to a large extent as the volatility within the markets remains reasonably low. 

On the other hand, the star crypto, Bitcoin, has sustained above $30,000, regardless of the recent price action. Ethereum’s price has also maintained above $1900, displaying the possibility of a bullish breakout. The other popular tokens also witnessed a marginal plunge but most of them largely maintain a marginal rise. XRP jumps by 5.52%, Solana by 2.95% while, Binance Coin drops by 2.24%, Cardano by 1.26%, Dogecoin by 0.58% and Polygon by 1.84%. However, 1Inch remains the leader of the top crypto gainers with a 37.75% rise followed by Maker with a jump of 7.27%.

Global Crypto Market Cap	$1.21 trillion
Rise or Fall in Crypto Market Cap	+0.
Total Crypto Market Volume	$25.07 billion
Total DeFi Volume	$2.47 billion
Bitcoin Price	$30,274.35
Bitcoin Dominance	48.5%
Ethereum Price	$1,931.48

*As of 17-July-2023, 09:15 am

Bitcoin Price Rises Marginally but Sustains Above $30,000

Source: Tradingview

• The BTC price is trading within a parallel channel, maintaining a fine horizontal trend, as the volatility drops with a drop in volume
• The bulls and bears continue to remain passive, due to which the price may maintain a horizontal action for sometime
• Besides, the RSI and ADX are displaying slightly diverse trends, as RSI is trying to rise in the short term while the ADX is maintaining a horizontal trend
• Therefore, the price may remain sluggish for a while and after a brief accumulation, the price may trigger a healthy upswing 

Read More: Bitcoin Price Prediction

Ethereum Price Surges by 0.37% Aiming To Reach $2000 Soon

Source: Tradingview

• In the long term, the Ethereum price has been trading within an ascending triangle since the start of the year
• The price has managed to maintain an ascending trend and is about to reach the apex of the triangle in the next few weeks
• Besides, the ADX has just undergone a bullish divergence that may induce the momentum required for a healthy breakout
• Therefore, the ETH price may continue to trade along the resistance and head towards the apex. While it may certainly try to break through the resistance, it may eventually face a notable rejection

Additional Read: Ethereum Price Prediction

Latest Updates of the Crypto Market

• Aave Protocol launches a new algorithmic USD-backed stablecoin, GHO, on Ethereum Mainnet, with $2.19 million worth already minted so far.
• Binance’s US branch recently announced to halt the trading for USD pairs for popular tokens like Bitcoin (BTC), Cardano (ADA), Polygon (MATIC), Solana (SOL), Litecoin (LTC)  and 4 others, as it is in a transition to becoming a crypto-only exchange supporting the trade with stablecoin pairs, eliminating the USD pairs. 

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