Cryptocurrency Price Today: After a shocking downfall, crypto coins continued to show the aftereffects as the global cryptocurrency market fell by a slight margin on Saturday, May 21. This came largely in line with the US stock market behaviour, which had a wild day on Friday with the S&P 500 index nearing the bear markets for a few moments before it rebounded to decent levels. As a result, the global cryptocurrency market fell down by 2.77 per cent over the last day, with its value standing at $1.25 trillion, as per data.
“While the current crash in the US stock and bitcoin markets bears similarities to the March 2020 crash, the recovery may not follow the same trajectory as market conditions are different. In 2020, the Fed supported markets with unprecedented stimulus, but in 2022 the focus will remain on reducing inflation and tightening monetary policy,” said the WazirX trade desk on its weekly cryptocurrency note.
Bitcoin price today fell again below the $30,000 levels. Bitcoin price today was standing at $29,303.81 at the time of writing this article, which was down by 2.36 per cent over the last 24 hours.
“Bitcoin has been mostly trading in red since the start of this month and the prices have plunged almost by 34.5 per cent making the low of $25,338. The asset has made a ‘Long Legged Doji’ candle and has tested the support of 200 week Moving Average and showed signs of recovery,” said the WazirX trade desk.
“For the past nine days, the daily closing price of Bitcoin (BTC) has fluctuated in a narrow range between $28,700 and $31,300. The May 12 crash of TerraUSD (UST), previously the third-largest stablecoin by market cap, weighed on investor sentiment, and the path for a recovery in bitcoin price looks murky after the composite stock index Nasdaq dropped on May 18. It plunged headlong 4.7 per cent,” it added.
Meanwhile, Ether price today, too, crashed to $1,966.96 while writing this article. This was down by 2.53 per cent over the last 24 hours.
“ETH (Ethereum) witnessed a sharp fall after facing stiff resistance at 200 Day Moving Average, Horizontal trendline and 20 Day Moving Average. Currently, the asset is consolidating between $1,900 to $2,155 and is facing stiff resistance at $2,150. Once the breakout occurs above the resistance with good volumes then we can expect some relief rally and can surge up to $2,400 levels,” noted the WazirX trade desk.
Here are the top 10 cryptocurrencies and their prices on May 21, 2022 ( According to data from coinmarketcap.com)
Bitcoin $29,303.81 or 2.36 per cent loss in the last 24 hours
Ethereum $1,966.96 or 2.53 per cent loss in the last 24 hours
Tether $0.9987 or 0.54 per cent loss in the last 24 hours
USD Coin $1 or 0.01 per cent gain in the last 24 hours
BNB $303.73 or 1.40 per cent loss in the last 24 hours
XRP $0.4094 or 5.74 per cent loss in the last 24 hours
Binance USD $0.9995 or 0.17 per cent loss in the last 24 hours
Cardano $0.5229 or 2.02 per cent loss in the last 24 hours
Solana $49.64 or 4.08 per cent loss in the last 24 hours
Dogecoin $0.08401 or 3.16 per cent loss in the last 24 hours
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