Have the main coins returned to mid-term growth?
|The last Sunday of 2021 is neither bullish nor bearish as some coins remain trading in the green zone, while others have entered the correction phase.
Top coins by CoinMarketCap
BTC/USD
Despite today's slight fall, the rate of Bitcoin (BTC) has increased by 6% over the last seven days.
BTC/USD chart by TradingView
Bitcoin (BTC) remains trading in a channel, accumulating power for a possible upward movement. Until the rate remains above the $47,000 mark, bulls control the situation on the market.
If buyers can fix above the vital area of $50,000, there are high chances to see BTC near the purple level at $53,300 until the end of the year.
Bitcoin is trading at $49,892 at press time.
ETH/USD
Even though the rate of Ethereum (ETH) is almost unchanged since yesterday, its growth has not been so grear compared to BTC's price change.
ETH/USD chart by TradingView
Ethereum (ETH) is located around the zone of the most liquidity at $4,050. Sideways trading is also confirmed by a low trading volume, which means that the main altcoin has not accumulated enough energy for a further sharp move.
All in all, bulls might seize the initiative if they fix above the zone of $4,200. From another point of view, the bearish scenario may come into force if ETH returns to the support at $3,700.
Ethereum is trading at $4,044 at press time.
BNB/USD
The rate of Binance Coin (BNB) has gone down by 1%, while the price change over the last week has accounted for +1.50%.
BNB/USD chart by TradingView
Binance Coin (BNB) is trading similarly to Ethereum (ETH), as the native exchange coin is also located in the wide channel with neither clear bearish nor bullish signals. If the rate remains above $500, buyers may continue the slight rise to the nearest resistance area around $600. Such a scenario is relevant until the end of the current month. At the moment, the price is far away from the support at $489, which is the crucial level for bulls.
Binance Coin is trading at $542 at press time.
ADA/USD
Cardano (ADA) is the biggest gainer from the list taking into account the weekly price change, with a rise of 12%.
ADA/USD chart by TradingView
Cardano (ADA) is approaching the resistance at $1.479 for the third time. If bulls manage to break it and fix above, the rise may continue to the nearest zone at $2. However, such a scenario might happen within the next few weeks as buyers need to accumulate more strength for a further price rise.
ADA is trading at $1.437 at press time.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.