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Can Bitcoin (BTC) let the other coins grow?

Denys Serhiichuk U.Today

Despite ongoing bullish dominance, some coins from the top 10 list remain in the red zone.

Top coins by CoinMarketCap

BTC/USD

Yesterday, buyers tried to refresh the high of last week, but during the day, the price of Bitcoin (BTC) failed to rise above $62,680.

BTC/USD chart by TradingView

In the evening, Bitstamp experienced a significant storm. In the afternoon, the lowest BTC price of $59,013 was recorded there. On other exchanges, the pair only slightly pierced the psychological support of $60,000.

Today, buyers might try to break through to the $64,895 level, which passes through the historical high of the Bitcoin price. If bears derail this attempt, then the price may dip to the support of $58,000.

Bitcoin is trading at $62,223 at press time.

ADA/USD

Cardano (ADA) could not follow the rise of other coins and its rate has gone down by 0.86% since yesterday.

ADA/USD chart by TradingView

Cardano (ADA) has fixed below the moving average, which means that bears have seized the mid-term initiative. Currently, one needs to pay close attention to the level of $1.899. If sellers break it, one should expect a sharp drop to the zone of the most liquidity around $1.482.

ADA is trading at $2.116 at press time.

SHIB/USD

SHIB is the biggest gainer from the list today as the meme coin has risen 3%.

SHIB/USD chart by TradingView

Despite the rise, SHIB remains trading in a wide channel between the support at 2,010 and 3,528 satoshis. The trading volume remains low, which means that traders are accumulating their power for a further sharp move. In terms of the nearest price projection, sideways trading is the more likely price action.

SHIB is trading at 2,831 satoshis at press time.

DOGE/USD

Unlike SHIB coin, DOGE could not show the same performance and has fallen by 4.13%.

DOGE/USD chart by Trading View

After the test of the $0.27 level supported by high trading volume, buyers could not hold the initiative and once again touched the zone of the most liquidity around $0.24.

Currently, neither bulls nor bears are dominating as the altcoin is located in the sideways channel. One needs to buy when DOGE comes back to the $0.1940 zone or the resistance at $0.3495.

DOGE is trading at $0.2438 at press time.

Read full original article on U.Today

Author

Denys Serhiichuk

U.Today

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

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Can Bitcoin (BTC) let the other coins grow?