Cryptocurrency price

Bitcoin Slips Below $40,000; Ether, Solana faces a huge drop

Cryptocurrency price today: All major crypto coins on Monday April 18 fell early in the day as the global cryptocurrency market capitalization took the brunt. The world’s largest cryptocurrency, Bitcoin, once again slipped below the $39,000 level after rallying above $40,000 for a few days as market volatility continued. On the other hand, other major cryptocurrencies also showed a downward trend as investors continued to assess rising inflation and considered a possibility of economic recession amid the Russian-Ukrainian war in Classes. The months-long tensions between the two countries have thrown the global cryptocurrency market into volatility.

The price of Bitcoin today at the time of writing this article was
$38,936.59, according to the data. This is down 3.57% in the past 24 hours, while the price of Bitcoin has fallen 7.92% in the past seven days, according to data from CoinMarketCap.

“Bitcoin has remained fairly neutral over the week as BTC continues to consolidate around the $40,000 levels. Interestingly, the RSI has also maintained a fairly flat line near 40 over the past week. However, the outflow of BTC from exchanges continued to increase as institutional investors and whales continued to accumulate Bitcoin,” WazirX’s trade desk said in a note to news18.com.

“On the daily timeframe, BTC continues to cross the ascending channel pattern. One would expect a large price fluctuation as BTC has been moving sideways for nearly a week. Next resistance is expected at $48,600 and support immediate for BTC is expected at $37,600,” he added.

The price of Ether also fell today, with one unit of the world’s second largest cryptocurrency trading at $2,915.79 at the time of writing. This has decreased by 4.06% and 8.18% over the past 24 days and seven days respectively.

“Ethereum slipped slightly over the week, falling more than 6%. Meanwhile, Ethereum developers have announced that the highly anticipated Ethereum Merge will be postponed for a few more months. Ethereum’s weekly trend can be seen retesting the pattern after the recent breakout of the same pattern. The next resistance for ETH is expected at $3,450 and the next support is expected at $2,450,” said trade desk WazirX.

Here are the top 10 cryptocurrencies and their prices as of April 18, 2022 (data from coinmarketcap.com)

Bitcoin $38,936.59 or 3.57% loss in the last 24 hours

Ethereum $2,915.79 or 4.96% loss in the last 24 hours

Tether $1.00 or 0.01% gain in the last 24 hours

BNB $399.00 or 3.94% loss in the last 24 hours

USD Coin 0.9997 or 0.02% loss in the last 24 hours

XRP $0.7368 or 5.56% loss in the last 24 hours

Solana $97.45 or 4.51% loss in the last 24 hours

Cardano $0.8887 or 6.22% loss in the last 24 hours

Terra $76.94 or 5.81% loss in the last 24 hours

Avalanche $73.39 or 5.63% loss in the last 24 hours

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