Bulls have continued yesterday's price rise, and all coins from the top 10 list remain in the green zone.
Top coins by CoinMarketCap
BTC/USD
Yesterday morning, sellers pushed the Bitcoin (BTC) price below the $55,288 level, to the four-hour EMA55 area. During the day, the bulls, with great difficulty, brought the pair back to the 78.6% Fibonacci level. In the afternoon, they won back the lost positions from the bears on the approach with the resistance of $58,000.
BTC/USD chart by TradingView
Tonight, low-volume buyers decided to attack the impregnable line at $58,000. In the morning, the price pierced the blue resistance and marked a new October high at $58,550. Small volumes do not allow the growth to continue, and sellers easily rolled back the price below the resistance level. Now, there is a positional struggle on this border.
If the bears gain an advantage, then today the price of Bitcoin can roll back to the area of $56,600, and then the decline may continue to the level of $55,288.
Bitcoin is trading at $57,155 at press time.
ADA/USD
Cardano (ADA) has shown better performance than Bitcoin (BTC) with a price rise of 3.51%.
ADA/USD chart by TradingView
Despite the growth, Cardano (ADA) is still located in a wide range with no vivid bearish or bullish signals.
The neutral mode is also confirmed by the low trading volume. In this case, the more likely scenario is sideways trading in the range of $2.10-$2.30.
ADA is trading at $2.189 at press time.
DOGE/USD
DOGE is also not an exception to the rule as the growth of the altcoin has constituted 3% since yesterday.
DOGE/USD chart by Trading View
DOGE is trading similarly to Cardano (ADA) as it has not come back to the bullish zone yet. Moreover, it could not fix above the zone of the most liquidity around $0.25. That is why there is a high possibility to see the test of the support at $0.1940 one more time.
DOGE is trading at $0.2348 at press time.
SHIB/USD
SHIB is the only falling coin today. It has declined more than 1% over the last day.
SHIB/USD chart by TradingView
Today's fall has not been accompanied by a high selling trading volume, which means that the slight correction might be just a short fall to gain more power for continued growth. However, bulls are not ready yet to break the recently formed resistance at 3,528 satoshis. That is why sideways trading between 2,500 and 3,000 satoshis remains the more likely price action for the next few days.
SHIB is trading at 2,748 satoshis 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.
Recommended Content
Editors’ Picks
Will Dogecoin (DOGE) price pull an XRP and rally 60% next week?
Dogecoin price has been in a tight range bound movement since November 22. However, the recent recovery above the range low looks promising and hints at an explosive move for next week.
SEC Chair Gary Gensler’s latest call signals tough times ahead for crypto players
US Securities and Exchange Commission (SEC) chair, Gary Gensler, has hinted at tough times ahead for crypto players. In his testimony before the House Appropriations Subcommittee on Financial Service and General Government, Gensler advocated for additional infrastructure.
Crypto firms' de-banking escalates as banks reject applications due to liquidity and regulatory concerns
The crypto market has been facing hurdle after hurdle since Q2 2022 when Three Arrows Capital collapsed, which worsened in November 2022 following the bankruptcy of FTX. This led to a number of crypto companies falling.
Making a case for Binance Bicasso NFTs playing catalyst to BNB price recovery, $357 incoming?
BNB price is up three days in a row despite the legal tussle between the largest exchange by trading volume, its CEO Changpeng Zhao (CZ), and the Commodity Futures Trading Commission (CFTC).
Bitcoin: Breaking down key BTC levels to accumulate for Q2, 2023
Bitcoin price shows an interesting outlook as the first quarter of 2023 comes to an end. BTC has shown strength since day one of 2023 and has netted investors approximately 70% in returns.