Bitcoin Falls But Holds Ground Above $16,000, Ethereum Slips 7.1%

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Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, slumped three percent to $16,178. Its market value stood at $310.2 billion. The trade volume was at $11.4 billion.

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“Even though BTC is down, it managed to stay above $16,000, holding its support position for an impressive nine days. If buyers can push the price of BTC above the overhead trendline, we might see an upward trend,” said Edul Patel, CEO and Co-Founder of Mudrex.

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Ethereum | The second largest virtual currency, Ethererum or Ether, plunged 7.2 percent to $1,132.2 with a market capitalisation of $138.2 billion. The trade volume of Ethereum was almost $11.4 billion in the last 24 hours.

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On Ethereum, Patel said, “Ethereum was seen changing hands below its support level at $1,200. If the selling pressure does not subside, we may see ETH drop to $1,080. ETH will likely remain under the bearish threat until the price remains below the trendline.”

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Dogecoin | Meme-based virtual currency, Dogecoin, plummeted 10.8 percent on Monday. Its market value stood at almost $7 billion. The trade volume was at $488.2 million.

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Solana | Solana plunged 10.6 percent to $11.8 with a market capitalisation of $4.3 billion. The trade volume of Solana was $545.8 billion in the last 24 hours.

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Shiba Inu | Shiba Inu fell 5.6 percent with a market capitalisation of $4.8 billion. The trade volume was $177.6 million in the last 24 hours.

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Polygon | Polygon slumped eight percent to $0.8 with a market capitalisation of $7 billion. The trade volume was $487.4 million in the last 24 hours.asm