Cryptocurrency Price on May 27: Bitcoin falls below $68.7k level; Dogecoin, Chainlink decline up to 4%
Bitcoin (BTC), XRP, and Dogecoin. BTC fell 0.9% to $68,678 in today's trade, while Ethereum surged over 3.4% to $3,915.
Ethereum, the largest altcoin, has witnessed remarkable growth since the news of the SEC approving the listing of ETH ETFs became public. Ethereum has delivered stellar returns of around 27% in just seven days and the momentum is expected to sustain in the coming weeks owing to favorable macroeconomic factors, said Shivam Thakral, CEO of BuyUcoin.
Bitcoin witnessed a marginal dip in its price over the weekend and is trading at $68,700 mark at the time of writing. Bitcoin needs to sustain above the $70,000 level for at least a couple of weeks to spark a new rally, Thakral said.
Edul Patel, CEO of Mudrex, said, «Bitcoin is facing a major resistance at the $70,000 level. If there is a fresh increase, the immediate resistance is at the $69,500 level and the support lies at the $68,000. On the other hand, Ethereum set a new peak by moving higher than the $3,800 resistance. It is currently trading above the $3,900 level and is eyeing towards $4,000.»
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