Cryptocurrency Price Today: Bitcoin Slides Below $40,000; Ether, Solana Face Huge Drop

Cryptocurrency Price Today: All major crypto coins on Monday, April 18, fell early in the day while the global cryptocurrency market cap bore the brunt. World’s largest cryptocurrency Bitcoin slid below the $39,000 level again after rallying over $40,000 for a few days as market volatility continued. Other major cryptocurrencies on the other hand also showed a downward trend as investors continued to assess the rising inflation and looked at a possibility of economic recession amid the ongoing Russia-Ukraine war. The months-long tensions between the two countries has landed the global cryptocurrency market in volatility.

Bitcoin price today at the time of writing this article was standing at

$38,936.59, as per data. This was down by 3.57 per cent in the last 24 hours, while Bitcoin price fell by as much as 7.92 per cent over the past seven days, data from CoinMarketCap showed.

“Bitcoin has remained fairly neutral over the week as BTC continues to consolidate around the $40,000 levels. Interestingly, the RSI also maintained a fairly flat line, close to 40, during the past week. However, the outflow of BTC from exchanges kept on rising as institutional investors and whales continued to accumulate Bitcoin,” said the WazirX trade desk in a note to news18.com.

“On the daily timeframe, BTC continues to traverse within the ascending channel pattern. We could expect a significant fluctuation in price since BTC has been moving sideways for almost a week. The next resistance is expected at $48,600 and an immediate support for BTC is expected at $37,600,” it added.

Ether price also fell today, with one unit of the second largest cryptocurrency of the world trading at $2,915.79 at the time of writing this article. This was down by 4.06 per cent and 8.18 per cent over the past 24 ours and seven days respectively.

“Ethereum slid marginally over the week, falling by over 6 per cent. Meanwhile, Ethereum developers announced that the much awaited Ethereum Merge will be postponed by a few more months. The weekly trend for Ethereum can be seen retesting the pattern following the recent breakout from the same pattern. The next resistance for ETH is expected at $3,450 and next support is expected at $2,450,” said the WazirX trade desk.

Here are the top 10 cryptocurrencies and their prices on April 18, 2022 (data from coinmarketcap.com)

Bitcoin $38,936.59 or 3.57 per cent loss in the last 24 hours

Ethereum $2,915.79 or 4.96 per cent loss in the last 24 hours

Tether $1.00 or 0.01 per cent gain in the last 24 hours

BNB $399.00 or 3.94 per cent loss in the last 24 hours

USD Coin 0.9997 or 0.02 per cent loss in the last 24 hours

XRP $0.7368 or 5.56 per cent loss in the last 24 hours

Solana $97.45 or 4.51 per cent loss in the last 24 hours

Cardano $0.8887 or 6.22 per cent loss  in the last 24 hours

Terra $76.94 or 5.81 per cent loss in the last 24 hours

Avalanche $73.39 or 5.63 per cent loss in the last 24 hours

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