1 week Ago
Crypto Price Today: The cryptocurrency market on 24 September 2024 witnessed a mixture of minor corrections and gains, reflecting the ongoing volatility and fluctuations inherent in digital assets. Both Bitcoin (BTC) and Ethereum (ETH), two of the leading cryptocurrencies, faced modest pullbacks after experiencing strong gains over the past week. Meanwhile, other altcoins such as Polkadot (DOT), Solana (SOL), and Shiba Inu (SHIB) saw mixed performances, while some lesser-known cryptocurrencies surged in value, becoming the biggest gainers of the day.
Let’s dive into the detailed market analysis for the day and explore the significant movements across different cryptocurrencies. Price : $63,020.01 1 Day Performance : -1.
36% 7 Day Performance : +8.14% Bitcoin , the largest and most influential cryptocurrency, experienced a 1.36% decline in its price over the past 24 hours.
Despite this minorcorrection, Bitcoin remains in an overall uptrend for the past week, boasting an impressive 8.14% increase in its price over the last seven days. Market Performance Overview Looking at the Bitcoin/USDT chart, BTC briefly spiked to a high of $64,745.
88 on 23 September 2024, before facing resistance and retreating. The chart shows that the price has been fluctuating within a narrow range between $62,500 and $64,000 over the last few days. The Bollinger Bands show tightening, indicating a potential upcoming breakout or further consolidation.
From a broader perspective, Bitcoin’s weekly gains have been driven by renewed interest from institutional investors and ongoing optimism surrounding the launch of Bitcoin ETFs in several global markets. What to Watch Next for Bitcoin? The market will closely monitor the $64,000 resistance level. If Bitcoin can break through this threshold, we could see it rally further towards the $65,000 mark.
On the downside, a failure to maintain above $62,500 could push BTC down to test its next support level near $61,000. Price : $2,623.21 1 Day Performance : -1.
46% 7 Day Performance : +14.60% Ethereum has been on a strong bullish trend, climbing 14.60% over the past seven days.
However, similar to Bitcoin, ETH faced a slight pullback of 1.46% in the past 24 hours. Market Performance Overview According to the ETH/USDT chart, Ethereum hit a high of $2,687.
24 on 23 September before falling to its current level. The Bollinger Bands indicate increased volatility, with Ethereum finding support around the $2,600 mark. This slight pullback could be attributed to short-term profit-taking after the sharp rally.
Ethereum’s gains in the past week have been largely driven by the growing adoption of Ethereum-based DeFi applications, as well as the positive sentiment after the Ethereum ETF approval in various regions. What to Watch Next for Ethereum? The key level to watch for Ethereum remains at $2,700. A successful break above this level could trigger another rally towards $2,800.
On the downside, ETH must maintain support above $2,600 to avoid further declines towards the $2,550 level. Polkadot (DOT) Price : $4.46 1 Day Performance : +2.
15% 7 Day Performance : +6.55% Polkadot had a solid performance, rising 2.15% in the past 24 hours and accumulating gains of 6.
55% over the past week. Polkadot’s positive price movement has been driven by developments in its parachain auctions, which continue to attract interest from developers and investors alike. Solana (SOL) Price : $145.
91 1 Day Performance : -0.63% 7 Day Performance : +11.10% Solana , one of the fastest-growing blockchain networks, saw a slight dip of 0.
63% over the last 24 hours, though it remains up 11.10% for the week. Solana’s continued rise is fueled by its strong developer activity and the increasing use of Solana-based dApps and NFT platforms.
Ripple (XRP) Price : $0.58 1 Day Performance : -1.07% 7 Day Performance : -0.
39% Ripple (XRP) faced minor declines both on the daily and weekly charts, indicating market uncertainty regarding the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).
XRP continues to trade within a tight range, awaiting a decisive court ruling that could have a significant impact on its price. Shiba Inu (SHIB) Price : $0.00001437 1 Day Performance : -2.
11% 7 Day Performance : +8.45% Shiba Inu saw a 2.11% decline in the past 24 hours, despite being up 8.
45% for the week. The meme-inspired cryptocurrency continues to see significant retail interest that has contributed to its recent gains. However, the market remains cautious about SHIB’s volatility.
Several lesser-known cryptocurrencies emerged as the biggest gainers for the day, highlighting the ongoing speculative activity in the market: Celestia (TIA) – +15.15% Price: $6.33 Celestia saw the largest gains of the day, up 15.
15%, driven by positive developments in its modular blockchain infrastructure. Arweave (AR) – +13.90% Price: $22.
73 Arweave’s decentralized storage solution continues to attract attention, with its token rising 13.90%. NEAR Protocol (NEAR) – +12.
21% Price: $5.25 NEAR’s rise of 12.21% reflects growing interest in its scalability solutions and partnerships with DeFi platforms .
Ronin (RON) – +6.98% Price: $1.76 Ronin’s token saw nearly a 7% increase, likely tied to the expansion of its gaming ecosystem.
Stacks (STX) – +6.40% Price: $1.87 Stacks continues to benefit from the growing integration of Bitcoin with smart contracts, boosting its token price.
While several cryptocurrencies posted gains, others saw notable declines: UNUS SED LEO (LEO) – -6.85% Price: $5.56 LEO saw the largest decline of the day, dropping 6.
85% amidst low trading volumes and profit-taking. Sui (SUI) – -5.59% Price: $1.
52 Sui’s token fell 5.59%, with market sentiment turning cautious after a strong rally earlier in the month. Helium (HNT) – -4.
86% Price: $7.36 Helium faced a 4.86% drop as its decentralized wireless network continues to face competitive pressures.
Sei (SEI) – -4.41% Price: $0.3658 Sei’s token fell after a series of profit-taking events, leading to a 4.
41% decrease. Fantom (FTM) – -4.18% Price: $0.
6366 Fantom, another DeFi-focused blockchain, saw a 4.18% decline as investors rotated into other assets. In conclusion, 24 September 2024 proved to be a mixed day for the cryptocurrency market.
While major cryptocurrencies like Bitcoin and Ethereum experienced slight corrections, the broader market continued to exhibit strength, particularly in the altcoin sector. As always, market participants should remain vigilant to global economic factors and upcoming developments in the crypto ecosystem..
