Bitcoin falls below $25,000; Ether, Shiba Inu down 6%

Ether, on the other hand, is the coin linked to the Ethereum blockchain and the second largest cryptocurrency, fell more than 6% to $1,895. According to the network’s co-founder Vitalik Buterin, Ether raised $2,000 for the first time on Saturday amid optimism about its blockchain’s much-anticipated software upgrade, known as a merge, which is now likely to take place around September 15. crossed over.

Meanwhile, Dogecoin price is trading down more than 3% to trade at $0.07 today, while the Shiba Inu is also up 5% to $0.0000016. Today’s performance of other crypto prices also declined as XRP, BNB, Litecoin, Tether, Tron, Avalanche, Stellar, Polygon, Uniswap, Apcoin, Polkadot, Chainlink prices were trading with cuts in the last 24 hours.

“BTC price tried to break the $25,000 resistance level but failed. There is a downside break below the $24,200 level and it is likely to reach $24,000. An immediate support is near the USD 23,500 area, which is where Price below could gain bearish momentum. Similarly, ETH price failed to stay above the USD 2,000 level and started a downside correction at the 1,880 level. Edul Patel, CEO & Co-Founder, Mudrex said, Immediate major resistances are at the USD 1,940 and USD 1,960 levels, above which the price may again test the USD 2,000 zone.

The cryptocurrency struggled in the first half of the year, with the prices of bitcoin, ether and other tokens down more than 50% as the Federal Reserve stubbornly raised rates to counter high inflation.

Following the collapse of a large pair of tokens, some cryptocurrency lenders halted customer withdrawals, and many crypto firms cut jobs. However, the price has partially corrected, with bitcoin up 17% in July.

(with inputs from agencies)

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