Crypto Price Today: Bitcoin falls below $29,200, Polygon, Solana shed up to 6%

economictimes.indiatimes.com:

Meanwhile, the global cryptocurrency market cap was trading lower, around $1.15 trillion, falling 1.43% in the last 24 hours. «Bitcoin has been trading above the $29000 level. This might be attributed to the U.S. retail sales report for July, which indicates a growth of 0.7%, surpassing the predicted rise of 0.4%. Additionally, Europe’s First Spot Bitcoin ETF Listed in Amsterdam yesterday,» said Edul Patel, Co-founder and CEO at Mudrex. On Wednesday, the market cap of Bitcoin, the world's largest cryptocurrency, was around $566 billion. Bitcoin's dominance is currently 49.06%, according to CoinMarketCap.

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«Bitcoin's recent movement has been between $29,600 and $29,150, indicating volatility. A breach could dictate its price trajectory. A break below $29,200 could lead to support at $29,000 and $28,750, which would maintain the bearish trend. Conversely, a break above $29,600 could push it to $29,800, with $30,000 and $30,200 providing significant resistance. Traders should watch $29,250 and $29,600 for potential trends,» Sathvik Vishwanath, Co-Founder & CEO of Unocoin said. Rajagopal Menon, Vice President at WazirX, said, «Major market oscillators point to a Buy sentiment. The Relative Strength Index (14) sits at 45, with a neutral outlook. The Stochastic %K (14, 3, 3) at 39 and the Average Directional Index (14) at 13 indicate a Neutral outlook.» «The MACD Level (12, 26), at -85, indicates Buy. The