How likely are Bitcoin's (BTC) chances of rising faster than the altcoins?


The market has faced a slight correction after a sharp rise, and some coins have entered the red zone.

Chart

Top 10 coins by CoinMarketCap

BTC/USD

Yesterday, the bulls were able to continue their run and tested the level of $48,000. A new high was recorded at $48,216.

BTCUSD

BTC/USD chart by TradingView

After a pullback to the $45,200 mark, buyers tried to resume growth but, by the end of the day, they could not break above $48,000.

If today the pair is able to overcome this resistance, then this week buyers will test the psychological level of $50,000.

Bitcoin is trading at $45,650 at press time.

BNB/USD

Binance Coin (BNB) is the top gainer from our list. The rate of the coin has rocketed by almost 40%.

BNBUSD

BNB/USD chart by TradingView

The native exchange token of Binance exchange has shown enormous growth over the last few days, and there is a high possibility of a short-term correction now. Such a move is supported by the low liquidity and the trading volume. In this case, there are chances of seeing Binance Coin (BNB) trading around $120 soon.

Binance Coin is trading at $128.44 at press time.

ADA/USD

Cardano (ADA) is the second-most growing coin from our list. Its rate has increased by 20% over the last 24 hours.

ADAUSD

ADA/USD chart by TradingView

Cardano (ADA) is trading similarly to Binance Coin (BNB). The trading volume is going down, which means that a short drop may bring the rate of the altcoin to $0.71 soon.

Cardano is trading at $0.8678 at press time.

LTC/USD

Litecoin (LTC) is not an exception to the rule as the rate of the "digital silver" has risen by 7% since yesterday.

LTCUSD

LTC/USD chart by TradingView

Litecoin (LTC) is likely to retest the recent resistance level at $170 to gain more energy for a continued rise. However, if LTC fixed below this mark, bears might seize the initiative.

Litecoin is trading at $183.36 at press time.

 

Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.

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