TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Can altcoins recover faster than Bitcoin (BTC) after the recent dump?

Can altcoins recover faster than Bitcoin (BTC) after the recent dump?
Denys SerhiichukDenys SerhiichukU.Today

The bearish mood has changed to a bullish one fast as all of the top 10 coins have returned to the green zone.

Chart

Top coins by CoinMarketCap

BTC/USD

Yesterday, in the first half of the day, there was pressure from the bears. They managed to push the Bitcoin price below $46,000, but sales volumes decreased and the daily low was recorded around $44,440.

BTC

BTC/USD chart by TradingView

In the afternoon, buyers returned the pair to the support of $46,000 and, by this morning, the price was trying to hold at this level in a narrow consolidation.

It looks like, today, bears may try again to test the $42,447 level. The most likely scenario is the further decrease in the rate of the decline.

Bitcoin is trading at $47,017 at press time.

ADA/USD

Cardano (ADA) is the biggest gainer from the list, rising by 7%.

ADA

ADA/USD chart by TradingView

On the daily chart, Cardano (ADA) is showing strength after a recent sharp decline. The rise is also supported by an increasing trading volume, which means that buyers are ready to restore the price to its previous positions.

If they manage to achieve it, there is a high chance to see a test of the peak around $3.10 soon.

ADA is trading at $2.573 at press time.

BNB/USD

Binance Coin (BNB) has gained the least from the list as the growth of the native exchange coin has been only 1.19%.

BNB

BNB/USD chart by TradingView

From the technical point of view, BNB has entered the bullish zone, and it seems that it is not going to fall. However, the volume is low, which means that traders are accumulating power for a further price blast. If they hold the price above $412, the resistance at $456 can be attained shortly.

BNB is trading at $418.40 at press time.

Read full original article on U.Today

Author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.

More from Denys Serhiichuk
Share:

Editor's Picks

Uniswap Price Forecast: UNI tests 200-day EMA supply amid renewed retail demand

Uniswap Price Forecast: UNI tests 200-day EMA supply amid renewed retail demand

Uniswap (UNI) edges higher near an immediate resistance at $3.88 on Tuesday. The native decentralized exchange (DEX) token is defying a broader correction in the cryptocurrency market, even as Bitcoin (BTC) falls toward $63,000 from its July highs around $67,000.
XRP slides amid risk-averse pressure and ahead of Fed rate decision

XRP slides amid risk-averse pressure and ahead of Fed rate decision

Ripple (XRP) continues to trade under increasing pressure on Tuesday. This marks the second consecutive day of declines, reflecting broader risk-off sentiment as investors appear to shift gears in anticipation of the Federal Reserve (Fed) interest rate decision. On Wednesday, the Federal Open Market Committee (FOMC) is widely expected to leave interest rates unchanged in the 3.50%-3.75% range.
Crypto Today: Bitcoin, Ethereum, XRP remain under pressure as risk-off sentiment persists

Crypto Today: Bitcoin, Ethereum, XRP remain under pressure as risk-off sentiment persists

Bitcoin (BTC) is falling toward the immediate $63,000 support at the time of writing on Tuesday, weighed down by continued risk-off sentiment. Altcoins, including Ethereum (ETH) and Ripple (XRP), remain under pressure, trading below $1,900 and $1.10, respectively. Crypto market sentiment remains largely unresponsive and in the Fear territory, as reflected in the Fear & Greed Index.
Bitcoin price prediction: Is $60K back in focus as headwinds mount?

Bitcoin price prediction: Is $60K back in focus as headwinds mount?

Bitcoin is falling towards 63k, at a 10-day low, as a sell-off in AI-linked stocks has hit risk sentiment, spilling over into cryptocurrencies and as investors look cautiously ahead to tomorrow's FOMC rate decision. Bitcoin is down 2.7% over the past 24 hours and more than 4% over the past seven days as it extends its pullback from 67k the July high reached last week.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.