Crypto Price Today: Bitcoin down 0.24% amid stiff resistance at $53,000. Here's how Solana, BNB & others traded

economictimes.indiatimes.com:

crypto tokens were trading mix on Monday. While Bitcoin fell 0.24% in the last 24 hours and traded at $51,513.69 around 12 pm India time, other major cryptos such as Ethereum, Solana, BNB, Avalanche, Toncoin and Tron soared up to 2%. The other laggards in the pack were XRP, Cardano, and Dogecoin, which were down by up to 1.5%.

Bitcoin is experiencing consolidation over the last few weeks and has been trading in the range of $50,000-$53000 after rallying by nearly 36% since the start of 2024, Shivam Thakral, CEO of BuyUcoin said, adding that Bitcoin has failed to breach the $53,000 resistance. In his view, a breakout above this level should push the price up to $60,000 in the near future.

Meanwhile, CoinDCX sees bearishness on the back of the first net outflow from BTC ETF since January 25, 2024. Technically, BTC closed in the red but stayed within its range, with local support around $50,600 and resistance at $52,500, CoinDCX market movement showed. On the other hand, ETH remained relatively stable, hovering between $2,900 and $3,000, with local support at $2,880 and resistance at $3,030, it said further.

In CoinDCX's view, Reddit hinting at investments of excess cash into Bitcoin and Ethereum augurs well for these cryptocurrencies.

Did you Know?

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Echoing similar sentiment, Parth Chaturvedi, investments lead at CoinSwitch Ventures