Bitcoin at $24,000, Ether Moves Over 2 Months, Solana Up 10%

Cryptocurrency price today: Shortly after the US Federal Reserve raised interest rates, the cryptocurrency market followed its rally on Friday, July 29. The global crypto market cap soared 3.90% to $1.10 billion, according to data from CoinMarketCap. Gains by Bitcoin, Ethereum Solana and other major cryptocurrencies over the past 24 hours have pushed the global cryptocurrency market capitalization to levels it lost earlier this year. The jump in the Fear & Greed index to its highest level since April this year also fueled the surge.

Bitcoin closed green after breaking above the $24,000 mark on Thursday and held open levels on Friday. Later in the day, the price declined slightly to hover around the $23,900 mark. The price of bitcoin today at the time of writing was $23,920.29, up 4.37% in the last 24 hours.

“Bitcoin closed green again after a 4% link yesterday to break above the $24,000 level following the FOMC’s recent decision to raise interest by another 75 basis points. Market sentiment also reacted. favorably as the Fear & Greed index hit its highest level since early April this year.The daily trend for BTC continues to cross a descending channel pattern, despite being on an uptrend.The next level of Key resistance for BTC is expected at $32,300.We should see this uptrend continue over the next few days,” a spokesperson for WazirX’s trade desk said.

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“Bitcoin has been on an upward trend with minor corrections over the past two weeks. BTC continued to rally, touching the US$24,000 level on Thursday and bouncing back to its consolidation point at US$23,000. The bulls pushed the price towards the next critical resistance level at US$25,000, which could be possible with a big accumulation trend. If BTC fails to break above the US$24,000 resistance zone today, we may see a downward correction. But as of now, looking at the price trend, BTC may continue to rally today,” said Edul Patel, CEO and co-founder of Mudrex.

Ethereum made a 14% surge on Thursday and the rally continued on Friday as well. Ether price today jumped 5.63% at the time of writing to hit $1,708.47, its highest level in almost two months.

“Ethereum made significant increases of 14% and 6% respectively, over the past two days, breaking through the $1,700 level after nearly two months. Investors continue to hope for Ethereum to rally higher ahead of its Proof-of-stake (PoS) transition. Ethereum’s daily trend broke from the pattern and exploded. The next key resistance for Ethereum is expected at the $4,400 level,” WazirX spokesperson said.

Here are the top 10 cryptocurrencies and their prices on July 29, 2022, Saturday, (According to data from coinmarketcap.com)

Bitcoin $23,920.29 or 4.37% gain in the last 24 hours

Ethereum $1,708.47 or 5.63% gain in the last 24 hours

Tether $1.00 or 0.00% gain in the last 24 hours

USD Coin $0.9996 or 0.04% loss in the last 24 hours

BNB $277.14 or 3.51% gain in the last 24 hours

XRP $0.3704 or 4.93% gain in the last 24 hours

Cardano $0.5255 or 5.01% gain in the last 24 hours

Binance USD $1.00 or 0.18% gain in the last 24 hours

Solana $42.71 or 8.58% gain in the last 24 hours

Dogecoin $0.06961 or 4.63% gain in the last 24 hours

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