Cryptocurrency Price on May 30: Bitcoin dips below $67.8k level; Shiba Inu, Polkadot tank over 5%

Edul Patel, CEO of , said, " is stabilizing around $67,900 after recent volatility triggered by the Mt. Gox transfer. Key levels to watch are the $67,200 support and the $69,500 resistance; breaking either could set the short-term trend."

"Ethereum is trading at $3,700. If there is a fresh increase, will face resistance at the $3,800 level," Edul said.

Meanwhile, other popular cryptocurrencies also experienced declines, with down by 1.3%, Solana by 3.7%, by 2%, by 4.7%, by 6.2%, Cardano by 3.4%, by 5.5%, and Polygon by 4.3%.

The volume of all stablecoins is now $76.4 billion, which is 93.55% of the total crypto market 24-hour volume, as per data available on .

In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $1.336 trillion. Bitcoin's dominance is currently 52.91%, according to CoinMarketCap. BTC volume in the last 24 hours dropped 6.07% to $27 billion.

Tech view by Rajagopal Menon, Vice President, WazirX

Currently trading around $67.9k, Bitcoin has fallen below $68,000 and is moving toward $66,250 support. Trading under $68,500 and the 100-hourly SMA, a bearish trend line forms with resistance at $67,900. Immediate support is at $67,250, major at $67,000, and further losses could reach $65,000.

Technical indicators for Bitcoin show the hourly MACD is losing pace in the bearish zone, while the RSI for BTC/USD is now above the 50 level. Major support levels are identified at $67,100 and $66,250. On the upside, significant resistance levels are positioned at $68,000 and $68,800, indicating potential hurdles for any upward movement.

(Disclaimer: The views expressed by experts are their own and do not necessarily reflect those of )

Source: Forex-Markets-Economic Times