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Bitcoin above $16,000, Ethereum up 5.9% as cryptocurrencies rise

Bitcoin above $16,000, Ethereum up 5.9% as cryptocurrencies rise

Bitcoin above $16,000, Ethereum up 5.9% as cryptocurrencies rise
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By Asmita Pant  Nov 15, 2022 11:37:54 AM IST (Published)

Most cryptocurrencies rose on Tuesday. "The strong comments by Elon Musk on the crypto market might have boosted prices in the past 24 hours," said Edul Patel, co-founder Mudrex. The global crypto market cap stood at $843.6 billion, with a volume of nearly $81 billion in the past 24 hours.

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| The world's largest and most popular virtual currency, Bitcoin, rose 5.2 percent to $16,681.5. Its market value stood at $322 billion. The trade volume was at $47.5 billion. 

"Bitcoin started the week trading at the $16,700 level as volatility in the crypto market continued following the collapse of FTX. BTC’s support now lies at $15,500, while the resistance holds at $17,200," said Edul Patel, CEO and Co-Founder of Mudrex.
Ethereum | The second largest virtual currency, Ethererum or Ether, jumped 5.9 percent to $1,251.2 with a market capitalisation of $154.1 billion. The trade volume of Ethereum was almost $17.5 billion in the last 24 hours. 
On Ethereum, Patel said, "Ethereum has bounced off its support level at $1,180. It is likely that ETH might consolidate around the $1,220 area. If buyers can hold the gained initiative, the correction may lead to the test of the $1,300 zone this week."
Dogecoin | Meme-based virtual currency, Dogecoin, jumped 6.1 percent to $0.9. Its market value stood at almost $8.1 billion. The trade volume was at $878.2 million. 
solana, cryptocurrency Solana | Solana surged 11.6 percent to nearly $14 with a market capitalisation of $5.1 billion. The trade volume of Solana was $1.3 billion in the last 24 hours.
Shiba Inu | Shiba Inu rose 3.8 percent with a market capitalisation of $5 billion. The trade volume was $241.3 million in the last 24 hours.
Polygon | Polygon rose 5.6 percent to $0.9 with a market capitalisation of $8.1 billion. The trade volume was $875.1 million in the last 24 hours.
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