Cryptocurrencies gained on Wednesday amid mixed trends in global markets. World’s most popular and largest cryptocurrency Bitcoin was trading 0.4 percent higher at $21,210.8 at 11:45 am. Bitcoin’s market capitalisation was at $405.95 billion, while the trade volume was at $26.11 billion in the past 24 hours.
A WazirX analyst said, “On the daily time-frame, the trend for BTC is re-testing the triangle pattern at the breakout levels. The next key resistance level for BTC is expected at $32,300 and an immediate support is expected at $19,000.”
“Bitcoin may rise or fall ahead of the meet-up. Investors might push it a bit up, perceiving it as a lower-risk asset than others ahead of the FOMC meeting,” said Edul Patel, CEO and co-founder of Mudrex.
Second-largest virtual currency Ether was 1.5 percent up at $1,447.5 with market capitalisation of $176.9 billion. Trade volume of Ethereum was $16.9 billion in the last 24 hours.
The analyst said, “The daily chart for ETH-BTC continues to traverse within a descending triangle pattern making lower highs as another downtrend is anticipated after a bounce-off from the pattern resistance level. The next key support for ETH-BTC is expected at 0.049.”
Meme crypto Dogecoin was 1.4 percent up with a trade volume of $382.6 million in 24 hours. Shiba Inu was trading 2.2 percent higher at $0.000011 while Solana was 2.32 percent up at $36.8 billion.
Indian headline indices opened flat on Wednesday before gaining later in trade.
