{"id":22612,"date":"2022-08-18T10:07:11","date_gmt":"2022-08-18T04:37:11","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=22612"},"modified":"2024-04-29T13:32:27","modified_gmt":"2024-04-29T08:02:27","slug":"market-update-august-18-2022","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/crypto\/market-update-august-18-2022\/","title":{"rendered":"Crypto market update: 18 August 2022"},"content":{"rendered":"

After a bullish start to the week, the crypto market witnessed a bit of a sell-off during yesterday\u2019s session. The total market cap of the crypto market went down by close to $50 billion. And Bitcoin is trading below the $23,500 level, down by 2.32% in the last 24 hours.<\/p>\n

The trigger for the sell-off is the US economic indicators (the July retail sales numbers are pretty flat), which were disappointing given the forecast of 0.1% growth. Another factor is Nasdaq\u2019s performance. The index, which is tracked closely by the crypto community, ended the day in the red zone with a 1.25% decline.<\/p>\n

The Fear and Greed Index, which measures investors\u2019 sentiments as per the prevailing market conditions, also pulled back yesterday by 11 points, reaching 30\/100. The drop indicates a risk-off sentiment.<\/p>\n

As per Coinglass data, the total liquidation figure in the last 24 hours stands at $234 million, up by 112%.<\/p>\n

Key coins<\/strong><\/p>\n

Bitcoin<\/strong><\/p>\n

\"bitcoin<\/p>\n

Bitcoin has shown a reversal on the 4-hr chart after testing the support at the $23,200 level. However, it needs to break above $23,700 to continue its upside momentum. The $24,000 level continues to be highly resistive, as it has been multiple times in the past. The Relative Strength Index (RSI) is moving up from the oversold territory. That\u2019s a positive sign for the market, but one still needs to be careful with trades. We recommend you Do Your Own Research (DYOR).<\/p>\n

Ethereum<\/strong><\/p>\n

\"\"<\/p>\n

\u00a0<\/p>\n

Since Monday, 15 August 2022, Ether (ETH)<\/strong> has corrected by almost 9%. It is currently trading near one of its key support levels, at $1,830. ETH bounced back after testing the support and needs to break above $1,900 to continue moving higher.<\/p>\n

Developments around The Merge and heightened trading activity are leading to volatility in ETH prices. Keep a close eye on those support and resistance levels while planning your trades.<\/p>\n

The top three gainers in the last 24 hours are <\/span>QSP<\/span><\/a>-5.98%, <\/span>ATOM<\/span><\/a>– 5.33%, and <\/span>CHZ<\/span><\/a>– 2.92%.<\/span><\/p>\n\n\n

FAQs<\/h2>\n\n\n
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How is the crypto market doing today?<\/h3>\n
\n\n

The current status of the crypto market can be checked on platforms like The Economic Times, which provides live updates on cryptocurrency prices and market trends.<\/p>\n\n<\/div>\n<\/div>\n

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What crypto to buy now?<\/h3>\n
\n\n

Deciding which cryptocurrency to buy depends on various factors such as your investment goals, risk tolerance, and market analysis. It’s advisable to conduct thorough research or consult with a financial advisor before making any investment decisions.<\/p>\n\n<\/div>\n<\/div>\n

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What is the price of crypto today?<\/h3>\n
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The price of crypto fluctuates frequently. To check the latest prices, you can refer to financial news websites, crypto exchanges, or financial apps that provide real-time updates on crypto prices.<\/p>\n\n<\/div>\n<\/div>\n

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How is crypto used today?<\/h3>\n
\n\n

Crypto is used today for various purposes such as investment, online purchases, remittances, decentralized finance (DeFi) applications, and as a means of transferring value across borders quickly and securely.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

After a bullish start to the week, the crypto market witnessed a bit of a sell-off during yesterday\u2019s session. The total market cap of the crypto market went down by close to $50 billion. And Bitcoin is trading below the $23,500 level, down by 2.32% in the last 24 hours. The trigger for the sell-off […]<\/p>\n","protected":false},"author":67,"featured_media":22618,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[460,6552],"tags":[6467,6602,6536],"class_list":["post-22612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-market-update","tag-crypto","tag-market-update","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-07-22T13:28:55+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Praniket Nayka\",\"description\":\"\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/praniket\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4b22173b861c31fe922bbaf46c336561?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","key_takeways":false,"youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"Beginner","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/22612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=22612"}],"version-history":[{"count":7,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/22612\/revisions"}],"predecessor-version":[{"id":40015,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/22612\/revisions\/40015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/22618"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=22612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=22612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=22612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}