Will Crypto market bounceback or fall will continue by the end of the year?

New Delhi: The global crypto market dropped in capitalisation by 0.38 percent to $2.19 trillion over the last 24 hours.

The crypto volume surged 21.76 percent to $95.42 billion, on the other hand, DeFi accounted for 15.04 percent of the total crypto volume while stablecoins ($91.40billion) made for 79.23 percent of the crypto market’s 24-hour market volume.

Bitcoin, currently trading at $48,536 surging by 4.22 percent in the last 24 hours, on the other hand, BTC’s market dominance stands at 40.55 percent.

The week began with a sharp fall in the cryptocurrency market as the investors saw all the top coins with the red indexes.

Bitcoin

The Bitcoin price merged in the sideways range between the price support level of $46,000 and resistance at $47,745. On Sunday, a moment in price chart can be seen as the bulls tried to leave the sideways range. The bulls were able to break through its upper border various times but massive sell-off kept the price below the Exponential Moving Average-55 (EMA).

If this continues then this week bears can gain control and roll back the BTC price to the $42,447 support level.

Dogecoin

Dogecoin saw a massive spike when after Elon Musk’s DOGE supporting tweet but the coin hasn’t found its way as neither bulls nor bears have control over the price. Investors need to take the coin towards the most liquidity zone around $0.22 to restore the growth. A failure from here will lead the coin to once again retest the support at $0.1310.

But, if they fail to do that, there is a chance to once again see the retest of the support at $0.1310.

Shiba Inu

Shiba Inu was among the biggest loser last week but on Tuesday the coin went on to gain more than 10 percent. Bulls need to hold the support zone at $0.00002952 if sellers can break this area several times then SHIB can sharply fall towards the $0.00002010 price zone.

Cardano

Cardano has gained almost 3 percent in the last 24 hours after falling by almost 6.33 percent. ADA approached the important support area around $1.188. As per experts, if the coin records daily candle below this price zone then it can lead towards a mid-term bearish trend.