Crypto Market Roundup 24 May 2022
Bitcoin (BTC)
Throughout the last 24 hours, bitcoin prices have fallen below $30,000 again, falling by over 3 percent. Also, Bitcoin’s share of the crypto market fell by 0.36% to 44.22% over the day. Globally, the price of Bitcoin has fallen by 2.44% over the past week. As of writing, Bitcoin was currently valued at $29,227. After a massive market crash earlier this month, Bitcoin’s (BTC) price managed to stay afloat, trading just above $30,000. This shows signs of the world’s oldest crypto recovering. The BTC price registered its first weekly gain since 2011 after a decline for seven straight weeks, as FintechZoom Crypto May 23.
Ethereum (ETH)
Within the last 24 hours, Ethereum’s price decreased by 2.17%, dropping below the $2000 mark again to $1985. This represents a 2.50% decrease in the last seven days. Currently, it ranks second in terms of market capitalization.
Ethereum’s price is on the verge of breaking after a bullish pennant appeared on its chart. With GameStop offering non-custodial Ethereum wallets and the upcoming Merge, the biggest altcoin is gaining momentum. GameStop, which sells more video games than any other company, has released an Ethereum wallet that doesn’t hold your money.
According to analysts, ETH tokens will be unlocked gradually during the upcoming Ethereum Merge.
Binance Coin (BnB)
Within the last 24 hours, the Binance Chain coin’s price rose by 1.89% to $325. There has been an 8.26% increase in BNB prices in the last seven days. It is currently ranked as the fourth largest crypto asset according to market capitalization. For the past five days, BNB has traded near its midpoint. Cryptocurrencies are 4.27% off their five-day highs and 12.10% above their five-day lows, currently at $287.21. A support level is present for the BNB price. A support level of $318.56 lies between a resistance level of $338.52, giving it plenty of room before hitting a resistance level. Recent trading volumes for BNB have been low. In other words, today’s volume is lower than its average volume over the last seven days.
Cardano (ADA)
In the last 24 hours, the price of the Cardano token dropped by 4.07% to $0.5171. A price decrease of 8.02% occurred in the last seven days for ADA. Currently, it is ranked as the 8th largest crypto asset by market capitalization. Cartano has gained 20% since its swing low of $0.40 in May. ADA currently trades around $0.50-$0.55, and concurrent resistance and support suggest an imminent upside breakout. A symmetrical triangle is currently forming on the Cardano price.
Solana (SOL)
In the last 24 hours, the price of Solana decreased by 4.66 to $49.71. Over the past seven days, the price of SOL has decreased by 9.06%. Currently, it is the ninth most valuable crypto asset in terms of market capitalization. A loss of an exciting zone could trigger a 41% downtrend for Solana. Solana has reportedly broken through the $47.60 support level over the past few hours. If it prints a four-hour close below this level, SOL will enter a 41% downtrend toward $28.85. This target can be calculated by integrating the triangle’s Y-axis and subtracting that amount from the breakout point. A breakthrough of $53 is still most likely required for Solana to move to $75.50.
