Crypto Price Today: Bitcoin holds $26,000; Ethereum above $1,650; Solana tanks 5% – Business Today

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Bitcoin and other crypto tokens were trading sharply lower on Friday tracking the losses in the traditional asset market. Traders across the globe are awaiting the outcome of Federal Reserve’s Jackson Hole Symposium, particularly Chair Jerome Powell’s speech due later in the day. Bitcoin was back under selling pressure after a short-lived recovery as the largest crypto token declined more than a per cent to barely hold $26,000-levels. Similarly, its largest peer, Ethereum, also fell on similar lines and managed to stay above the $1,650-mark. Price action in the altcoins was on the lower side for the day. All other top crypto tokens were trading sharply lower on Friday. Solana tanked as much as 5 per cent, while Polygon declined 3 per cent. Dogecoin, Litecoin, Shiba Inu, Polkadot, XRP, Toncoin, Cardano and Tron dropped 2 per cent each in the early hours. The global cryptocurrency market cap was trading significantly lower, rising down to $1.05 trillion-mark as it dropped more than a per cent in the last 24 hours. However, the total trading volumes dropped more than 17 a per cent to $27.95 billion. Image: Crypto-chart-priceTech View by Giottus Crypto Platform Avalanche(AVAX)’s has been rejected at the $10.5resistance and is moving back towards the $10 level.There Has been a slight decrease in demand over the past couple of days as accumulation is recovering marginally. Image: Chart-AVAX Its Bollinger Bands are currently wide as the price volatility increases near the $11 mark and show convergence as the price action trends down below indicator’s mean line. The indicator’s bottom line provides support at $9.5 mark.Its RSI (currently at 25)indicates bearish sentiment.These values suggest possible decline in the near term if AJAX fails to hold the $9.5 support level. Major Levels: Support: $9.0, $9.5 Resistance: $10.5,$11.0(Views and recommendations given in this section are the analysts’ own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)
 
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