Cryptocurrency price

Cryptocurrency prices today: Major cryptocurrency prices today: Bitcoin, Avalanche, Ethereum, Shiba Inu drop up to 6%

New Delhi: After surging up to 25% in the past week, Bitcoin took a breather as investors booked profits after US Fed Chairman Powell testified before US Congress . Altcoins followed suit.

Federal Reserve Chairman Jerome Powell reaffirmed the US central bank’s plan to raise interest rates this month for the first time since 2018. On the other hand, the saga in Eastern Europe continued.

All major digital tokens were trading lower on Thursday. Avalanche fell 6%, while Cardano and Shiba Inu fell 3% each. Bitcoin and Ethereum also lost one percent each.



The global cryptocurrency market capitalization was nearly flat today at $1.92 trillion, declining as much as 1% in the past 24 hours. Total cryptocurrency trading volume fell more than 10% to $94.72 billion.


Expert grip


Russia’s invasion of Ukraine is having a huge impact not only on Ukraine, but also on global economies, with commodity prices rising sharply in recent weeks, the CoinDCX research team said. .

“If prolonged, it could potentially exacerbate inflation in India, with a ripple effect on the country’s development progress as well as financial markets,” he added.

Global Updates

Bitcoin prices have risen as investors again appear to view the volatile cryptocurrency as a safe haven for their money and Russians and Ukrainians seek alternatives to their country’s financial institutions.

Some of the world’s largest cryptocurrency exchanges remain in place in Russia, breaking ranks with traditional finance in a move that experts say weakens Western attempts to isolate Moscow after Ukraine’s invasion.

Trading volumes between the Russian ruble and Bitcoin hit a nine-month high as the country’s fiat currency plunged to record lows due to fallout from the invasion of Ukraine.

Ukraine said it would now accept dogecoin (DOGE) cryptocurrency donations from supporters of the conflict with Russia – and tagged billionaire and DOGE promoter Elon Musk in the tweet announcement.

Separately, FIS’s Worldpay, the world’s largest payment processor, has partnered with the Shyft Network, a digital identity system designed to align the cryptocurrency industry with global anti-money laundering rules. silver.

Technical view by Giottos Crypto Exchange

Avalanche is one of many “Ethereum killers” in the market with a vibrant ecosystem of validators, developers, and potential use cases for institutions and enterprises. Its token – AVAX – was one of the best performing coins of 2021, surging from $3 to nearly $150.

ETMarkets.com

After a sharp correction from its all-time high that took it to $52, Avalanche appears to have finally turned an important resistance trendline into support. It is currently testing this trendline, and if this level holds, it would be a bullish signal that could lead AVAX to short-term targets at $88, $99, and $110.

These goals, however, have been rejected in the past. If they continue to offer resistance, AVAX could consolidate and retest the support at $74 and maybe even $70 ahead of an impulsive move higher at the confluence with its trendline. These levels would therefore be attractive for long positions.

Main levels:

Support: $74, $70

Resistance: $88, $99, $110


(The opinions and recommendations given in this section are those of the analysts and do not represent those of ETMarkets.com. Please consult your financial advisor before taking a position in any assets mentioned.)