Which altcoin can perform better than others at the current market bounceback?


Buyers keep controlling the situation on the market; however, some coins have come back to the red zone.

Chart

Top coins by CoinMarketCap

BTC/USD

Yesterday, the two-hour EMA55 kept the Bitcoin (BTC) price in a sideways consolidation. In the afternoon, buyers tried to test the $60,000 level, but the daily high was only set at $59,250.

By the end of the day, the pair rolled back to the average price area.

BTC

BTC/USD chart by TradingView

Today, attempts to recover to the psychological level of $60,000 USD may continue, but if the bears push the moving average EMA55, the price can retrace to the $55,287 level.

Bitcoin is trading at $58,611 at press time.

XRP/USD

Yesterday, the XRP price held above the average price level and consolidated above the psychological level of $1. Today, it is the second-biggest loser among the top 10 coins.

XRP

XRP/USD chart by TradingView

Today, given the positive sentiment of market participants, the recovery may continue to the resistance of $1.10.

XRP is trading at $1.0105 at press time.

ADA/USD

Cardano (ADA) is also located in the bearish area as the price of the altcoin has declined by 0.80% since yesterday.

ADA

ADA/USD chart by TradingView

Despite the fall, Cardano (ADA) keeps consolidating after it has successfully bounced off the support at $1.496. If the situation does not change, and buyers hold the initiative, the rise may continue to the nearest resistance at $1.80.

Such a scenario is relevant until mid-December.

ADA is trading at $1.606 at press time.

SOL/USD

Solana (SOL) is the biggest gainer today as the growth of the coin has made up almost 5% over the last day.

SOL

SOL/USD chart by TradingView

Solana (SOL) is slowly moving to its peak at $259.90. The buying training volume remains low, which means that traders are still accumulating efforts. If bears cannot seize the initiative, there are good chances to see a new pear at around the vital mark of $300.

SOL is trading at $227.55 at press time.

AVAX/USD

Avalanche (AVAX) is not an exception to the rule as it is also located in a bullish trend.

AVAX

AVAX/USD chart by TradingView

AVAX is located in a wide channel from the technical point of view, and neither bulls nor bears are dominating. In this case, the more likely price action is continued sideways trading between the level of $110 and $130. Buyers have the opportunity for a rise if they can get to the $140 zone.

AVAX is trading at $122.47 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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Largest DeFi exploit of 2022 wipes out $80 million from Qubit's Ethereum-BSC bridge

Ethereum-BSC bridge of Qubit Finance suffered a hack to the tune of $80 million in the largest DeFi exploit of 2022. Hackers exploited the "deposit" function to steal cryptocurrencies from Qubit Finance. 

More Ethereum News

Decentraland bulls go against the bearish trend, targeting $2.60

Decentraland (MANA) price has been on the front foot in a challenging market environment. MANA bulls look ready to eke out  28% of gains for this week after the price lifted from the 200-day Simple Moving Average (SMA) and is now set to pop and stay above the monthly S1 support level.

More Decentraland News

Charles Hoskinson awaits launch of Vaccuumlabs DEX on the Cardano network

Cardano network activity hit a peak with a spike in transactions on the network. Charles Hoskinson, the CEO of IOHK, is awaiting the launch of Vaccuumlab's DEX on the Cardano network. 

More Cardano News

Why Bitcoin has entered a new bear market

Bitcoin price has tumbled to a multi-month low below $33,000, as the leading cryptocurrency loses 50% of its value from its all-time high in November 2021. This marks the second-worst sell-off since the bear market that spanned from 2018 to 2020. 

More Bitcoin News

Bitcoin: Federal Reserve cannot tame BTC’s uptrend

Bitcoin experienced some significant losses over the past few weeks, with a more dramatic drop occurring this week after the Fed’s decision was announced. As losses have extended and Bitcoin has entered into the $30,000 zone, concerns regarding BTC being in a bear market have increased.

Read full analysis

BTC

ETH

XRP