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How long is the ongoing recovery in the cryptocurrency market going to last?

How long is the ongoing recovery in the cryptocurrency market going to last?
Denys SerhiichukDenys SerhiichukU.Today

The cryptocurrency market is trying to break its bearish streak, with the majority of the top 10 coins being in the green zone.

Chart

Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has risen by 1 percent over the last day.

BTCUSD

BTC/USD chart by TradingView

Bitcoin (BTC) has once again bounced off the support at $32,000, having confirmed the bulls' power.

The trading volume is slightly rising, which means that there is a chance of seeing the ongoing growth to $37,000 where most of the liquidity is focused.

Bitcoin is trading at $32,888 at press time.

ETH/USD

Ethereum (ETH) is the biggest gainer today, rising by 1.45 percent since yesterday.

ETHUSD

ETH/USD chart by TradingView

Ethereum (ETH) has bounced back to the vital level of $2,000, which means that bulls are controlling the situation on the market. In this case, the more likely scenario is an uptick to the area of $2,200 and above.

Ethereum is trading at $2,010 at press time.

BNB/USD

Binance Coin (BNB) is not an exception, rising by 0.16 percent.

BNB

BNB/USD chart byTradingView

Binance Coin (BNB) might also grow in the mid-term if it keeps trading above the crucial $300 level. In this case, there is a high possibility of seeing a spike to $340 soon.

BNB is trading at $311 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.

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