Asia First Mover: Biggest Crypto Gainers, Losers Today?

On Jul 31, 2023

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Asian cryptocurrency markets are booming, with significant gains and losses. Some of the biggest names in crypto are based in the region, with its bustling crypto exchanges. The influence of Asia on the global crypto market can’t be underestimated, making it a hub for traders and enthusiasts.

As the trading week begins in Asia, Bitcoin shows a slight increase of 0.22% at $29,397, while Ether experiences a minor dip of 0.31% at $1,863. Ripple XRP also slightly decreased by 0.86% to $0.7053. These top coins have a 24-hour trading volume of around 16.170 billion. Let’s take a look at some of the gainers and losers based on CoinMarketCap data.

Biggest Gainers

Source: CoinMarketCap

1. BitcoinSV (BSV)

Bitcoin SV (BSV) is currently priced at $38.69, with a market cap of $745 million, making it the 55th largest cryptocurrency. BSV has a circulating supply of 19,266,077.

BSV has grown by 5.21% in the last seven days and 8.38% in the last 24 hours. This positive trend suggests BSV is a good investment. Especially during a bear market, it might be a good idea to invest in BSV.

As Bitcoin SV nears $40.33, traders are watching closely, if it can break through this resistant level. This could signal more bullish momentum. The market is eagerly awaiting BSV’s next move.

On the 4-hour chart, BSV is currently trading at $38.69, and its 30-day and 50-day moving averages show interesting price movement. The short-term resistant is $40.33, and the longer-term resistant is $42.43. A break of these barriers could take BSV to $43.5 or even $45.3. If it keeps going up, it might hit $46.31.

Asia First Mover: Biggest Crypto Gainers, Losers Today? — Source: TradingView

However, it could drop if it doesn’t break through $40.33. The first support level is around $38.07, and a massive support level is forming at $35.20. The price may continue to decline if it falls below this support level.

BSV’s price could drop because investors are less interested in it or the market is bearish. So, monitoring the price action and adjusting your strategies is essential. Take precautions and exercise caution when investing in cryptocurrencies.

2. Optimism (OP)

Optimism’s price is $1.69 today, and there have been trades worth $230 million in the last 24 hours. The price has increased by 6.30% over this period. With a market cap of $1,140 billion, it’s ranked #42 on CoinMarketCap. It’s been in circulation for 679,080,066, and its maximum supply is 4,294,967,296.

OP is up 7.47% in the past seven days and 33.30% in the last month. The OP’s positive trend suggests it might be a good investment, especially during a bear market.

The price of Optimism (OP) is approaching $1.705, so traders are watching it closely. A successful breakout could mean even more bullish momentum, and the market eagerly awaits the OP’s next move.

The 4-hour chart shows OP trading at $1.69, and the 30-day and 50-day moving averages show exciting patterns. Short-term resistant costs $1.705, while long-term resistant costs $1.85. A break above these barriers might push OP to $1.86 or even $1.92. A break above these barriers might push OP to $2.05.

OP could drop in price if it doesn’t break through the $1.705 resistant. A significant support level is forming at $1.485, and the first support level is around $1.604. Further declines may happen if the OP’s price falls below this support level.

A change in investor interest or market sentiment could cause the OP’s price to fluctuate. It’s crucial to monitor the price action and adapt your strategies accordingly. Investing in cryptocurrencies should always be done with caution.

Biggest Losers

1. Curve DAO Token

Today’s Curve DAO Token price is $0.6506, with $296 million in 24-hour volume. In the last 24 hours, Curve DAO Token has been down 11.32%. With a market cap of $578 million, CoinMarketCap ranks #68. CRV has a circulating supply of 889,407,415 coins and a maximum supply of 3,303,030,299 CRV coins.

The Curve DAO Token has seen a drop in the past week, decreasing by 13.53%. And looking back over the last month, it has also declined by 10%.

CRV is trading at $0.6491 based on the average price of the last four hours. Some resistant levels could affect its price.

The first resistant level, $0.6840, might be tough to break. The $0.7050 level could also pose a challenge to CRV.

CRV’s value could rise significantly if it overcomes the $0.6491 resistant. If that happens, the price might increase to $0.6530 or even $0.6820. Keeping an eye on the market and observing price movements is essential.

CRV’s price could drop if it doesn’t get over $0.6840. There’s a reliable support level of around $0.6410 and another near $0.6120. CRV’s price may stabilize if these support levels hold. Keep an eye on the market to see how things go.

At the moment, buying a CRV might not be the best idea. A better approach might be to wait until the correction is over before making any decisions.

Remember, market conditions can change rapidly, so it’s crucial to monitor price movements and trends before making investment decisions.

2. Frax Share (FX)

Frax Share is currently $6.06 and has traded for $43.693 million in the last 24 hours. It’s down 6.55% over this period. Frax Share is ranked #84 on CoinMarketCap with a market cap of $443.850 million. The maximum supply of FXS coins isn’t available, but are 73,279,561 in circulation.

Frax Share (FX) has experienced a 1% increase in the past week and an impressive 8.20% growth over the last month.

FX is currently trading at $6.06 based on the average price of the last four hours. Some resistant levels could affect its price.

It might be challenging to break through $6.091, the first resistant level. FX could also have trouble breaking $6.171. Its value could rise significantly if it surpasses the $6.091 resistant. The price might go up to $6.10 or $6.15.

If you want to take advantage of potential opportunities, keep an eye on the market and observe price movements.

FX might drop if it doesn’t get over $6.091. There’s a reliable support level of around $6.006 and another near $5.912. FX’s price may stabilize if these levels hold. Keep an eye on the market to see what happens.

Considering the current market conditions, buying FX might not be a good idea. It might be better to wait for the correction to end before making any decisions.

Keep an eye on price movements and trends before investing because market conditions can change quickly.

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