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Bitcoin, dogecoin, Shiba Inu, other cryptos are breaking out today. View cryptocurrency prices

By on November 29, 2021 0


Cryptocurrency prices surged today with Bitcoin trading above $ 57,000. The world’s largest and most popular cryptocurrency was trading at $ 57,699, up more than 6%. The price of Bitcoin recently hit an all-time high of around $ 69,000 and has increased over 99% this year (year-to-date or year-to-date) so far. The global crypto market capitalization jumped to $ 2.72 trillion, according to CoinGecko.

Bitcoin has seen a major correction with its prices approaching its 2-month low amid speculation about the new variant of the coronavirus leading to the stock market crash. However, BTC looks strong and the daily delay indicates the forming a cup and grip pattern. We expect resistance at the $ 68,000 level and immediate support at the $ 53,000 level. We believe a trend reversal is imminent, “Siddharth said Menon, COO of WazirX.

Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also gained more than 7% to $ 4,337. The price of Dogecoin rose more than 3% to $ 0.20 while Shiba Inu rose more than 4% to $ 0.000039, according to CoinDesk. The performance of other cryptocurrencies such as Litecoin, XRP, Polkadot, Uniswap, Stellar, Cardano, Solana have also traded with gains in the last 24 hours.

“Ethereum continued to maintain its stronghold against Bitcoin. The daily trend exited the triangular pattern and hovered around the $ 0.075 level. Adoption around DeFi is steadily increasing and we expect a turnaround for ETH soon. Immediate support is expected around 0.071 and the next resistance at 0.079, “Menon added.

Investors have pivoted their holdings to Bitcoin alternatives as assets under management (AUM) of Bitcoin-based crypto funds fell 9.5% to $ 48.7 billion in November, the largest monthly decline since July , according to a report from CryptoCompare. For all crypto funds or digital asset management products, this resulted in a marginal monthly decline in assets under management of $ 74.7 billion or -5.5% to $ 70.0 billion.

In other news, Singapore-based virtual exchange bureau Coinstore has started operations in India at a time when the Indian government is preparing legislation to effectively ban most private cryptocurrencies.

(With contributions from agencies)

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