Altcoin

Can Bitcoin (BTC) keep rising against altcoins in the long term?

Even though bears have not seized the initiative yet, some coins are trading in the red zone. Meanwhile, Cardano (ADA) is the main loser from the list, falling by 0.85% since yesterday.

Top coins by CoinMarketCap

BTC/USD

Unlike other coins, Bitcoin (BTC) keeps rising, going up by 3.79% over the last day.

Chart

BTC/USD chart by TradingView

Bitcoin (BTC) is trying to fix above the vital mark of $37,000. Yesterday’s growth was supported by a large trading volume that confirms the buyers’ power. If they can hold this level, the mark of $40,000 might be broken soon.

BTC is trading at $37,200 at press time.

ETH/USD

Ethereum (ETH) has not followed the price action of Bitcoin (BTC) as the main altcoin has risen by only 0.32%.

ETH

ETH/USD chart by TradingView

Now neither buyers nor sellers are dominating at the moment. The vitality has fallen significantly, which means that a sharp move is coming.

The current price of Ethereum (ETH) is closely located at the resistance of $2,819, the breakout of which may get the rate to $3,000 in the short term.

ETH is trading at $2,524 at press time.

XRP/USD

The rate of XRP is almost unchanged since yesterday.

XRPUSD

XRP/USD chart by TradingView

Even though the selling trading volume is declining, there is no buyer reaction, which means that bears are still more powerful than bulls. In this case, there is a high chance of seeing one more restest of the support around $0.75.

XRP is trading at $0.8633 at press time.

DOGE/USD

DOGE has gone down by 1.14% over the last 24 hours.

DOGE

DOGE/USD chart by TradingView

DOGE is looking bearish as bulls have not seized the initiative at the level of $0.35. From the technical point of view, sellers may get the price of DOGE back to the support of $0.2962 soon.

DOGE is trading at $0.3268 at press time.

UNI/USD

Uniswap (UNI) is more bearish than DOGE with a price decrease of -2.17%.

UNI

UNI/USD chart by TradingView

Uniswap (UNI) is also under the bears’ control with no signals of potential long-term growth. After a bounceback to $28, the coin is coming back to the area where most of the liquidity is focused. All in all, the support at $20.34 may be tested soon.

UNI is trading at $24 at press time.

SOL/USD

Solana (SOL) is the biggest loser today, falling by 3%.

Sol

SOL/USD chart by TradingView

Solano (SOL) has almost touched the zone where most of liquidity is concentrated. However, it failed to fix above that zone, which means that a further decline to the support around $38 might occur. Thus, the buying trading volume has reduced slightly.

SOL is trading at $41.15 at press time.

Source link

Leave a Comment