On Monday, a variety of major crypto tokens were trading. Other prominent cryptocurrencies including Ethereum, Solana, BNB, Avalanche, Toncoin, and Tron surged up to 2%, while Bitcoin declined 0.24% over the past 24 hours and traded at $51,513.69 about 12 pm India time. XRP, Cardano, and Dogecoin were the other losers in the group, with declines of up to 1.5%.

Bitcoin has been consolidating over the past few weeks, ranging between $50,000 and $53,000 after rising by around 36% since the beginning of 2024. Bitcoin is still below the resistance level of $53,000. He believes that a break out over this level will soon drive the price up to $60,000.

On the heels of the first net outflow from the Bitcoin ETF since January 25, 2024, CoinDCX expects bearishness. Technically speaking, BTC finished lower but remained within its range; CoinDCX market movement indicated that local support was at $50,600 and resistance was at $52,500. In contrast, ETH held steady in the $2,900–$3,000 range, with $3,030 acting as resistance and $2,880 serving as local support.

According to CoinDCX, the hints made on Reddit about investing extra money in Bitcoin and Ethereum are positive signs for these cryptocurrencies.

Regarding ETH, it has recovered the $3k mark twice in February, and its Relative Strength Index (RSI) has increased as a result of the recent upswing.

Uniswap’s governance token, UNI, saw a 60% increase in value on Friday night in the altcoin space as a result of a prominent Uniswap Foundation member’s proposal to restructure the protocol’s fees-sharing structure for token holders. The coin has managed to maintain its value at roughly $11 ever since. Concurrently, Avalanche (AVAX, +0.57%) experienced a significant outage on Friday, with network stress preventing the company from producing blocks for over four hours.