How long can Bitcoin (BTC) continue growing faster than the altcoins?
Today, neither bulls nor bears are dominating as some coins are in the red zone, while others have come back to green.
Top coins by CoinMarketCap
BTC/USD
Yesterday morning, the average price level stopped the pair's decline and, by this morning, buyers returned the Bitcoin (BTC) price to the July high zone.
BTC/USD chart by TradingView
After retesting the resistance of $40,000, the recovery has slowed down and the price is trying to consolidate in the area of weak support at $39,600. If the bulls manage to continue to rise today, the price may test the $42,447 level.
If buyers cannot hold above the psychological barrier of $40,000, then the pair might roll back to the lilac support of $36,000.
Bitcoin is trading at $39,718 at press time.
ETH/USD
Yesterday morning, the bulls bought off the level of average prices and, during the day, they tried to restore the pair to its previous place—to the zone of the monthly maximum. However, buying volumes were below average and, this morning, the recovery has stopped at $2,336.
ETH/USD chart by TradingView
At the moment, the price has pulled back from this resistance and is trying to find support around the $2,280 mark. If the bears push the pair below this mark, then at low volumes the pair can decline to the area of the two-hour EMA55.
Ethereum is trading at $2,284 at press time.
ADA/USD
Cardano (ADA) could not keep the growth and its rate has gone down by 0.20% since yesterday.
ADA/USD chart by Trading View
On the daily chart, Cardano (ADA) is trading between the support at $1.24 and the liquidity zone at $1.35. At the moment, there is no dominance by neither of the sides, which means that there is a high possibility of seeing the rate in the mentioned area for the next few days.
Cardano is trading at $1.28 at press time.
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Author
Denys Serhiichuk
U.Today
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.
