Bitcoin and Ethereum keep their heads above key support lines, DOGE starts to reverse

Signs of consolidation above key support levels continue for the crypto markets as we head into Wednesday.

For bitcoin, that means sticking well above the US$20,000 price point, though there has been a slight drawback to US$20,400 this morning.

Ethereum is changing hands at US$1,560 having dipped a little over 1.5% in the past day, but remains comfortably above the key US$1,500 barrier.

Bitcoin (BTC) bulls seek out permanent support above US$20,000 – Source: currency.com

Dogecoin (DOGE) has been the big conversation starter lately, having soared some 150% since uber-fan Elon Musk took over Twitter.

There is evidence that the meme coin is cooling its paws today, after DOGE fell around 5%, though its newly attained position as the eighth-largest cryptocurrency remains for now.

It’s been a bearish morning for large-cap altcoins across the board, with Solana (SOL), Polygon (MATIC), Polkadot (DOT) and Cardano (ADA) all dipping between 4% and 5%.

Avalanche (AVAX) fared even worse, having suffered losses of around 6.3%.

Top daily movers include Toncoin (TON), which rallied over 10% to bring its market capitalisation up to US$1.96bn, and blockchain-based digital advertising platform Basic Attention Token (BAT), which also saw double-digit gains.

Most major decentralised finance (DeFi) tokens were down, with Compound Finance leading the way on a 5% dip.

The one outlier was Curve (CRV), which added 0.8% to its US$475mln market cap.

In total, global crypto market capitalisation currently stands at US$1.01tn, while total value locked across all DeFi protocols is US$54.23bn.