Which coins can remain stroger than Bitcoin (BTC)?
|The last day of the week has turned out to be bearish for the cryptocurrency market as most of the coins remain in the red zone.
Top coins by CoinMarketCap
BTC/USD
The rate of Bitcoin (BTC) is almost unchanged since yesterday. It has dropped by only 0.46% over the last 24 hours.
BTC/USD chart by TradingView
On the daliy chart, Bitcoin (BTC) is below the crucial level of $40,000. As long as bulls cannot seize the initiative, bears keep controlling the situation on the market. The selling trading volume is declining, which means that if the daily candle fixes above the $39,000 mark, the breakout of $40,000 may happen next week.
Bitcoin is trading at $38,959 at press time.
DOGE/USD
DOGE is following Bitcoin (BTC) as its rate has also not changed since yesterday.
DOGE/USD chart by TradingView
Despite the relatively neutral mood, the price is slowly approaching the support level at $0.1204 on the daily time frame. Currently, one needs to pay close attention to where the daily candle closes. If bears manage to keep the pressure on, the breakout of the level might be a prerequisite for a sharp drop to the zone around $0.11 shortly.
DOGE is trading at $0.1234 at press time.
SHIB/USD
SHIB is the only gainer from the list today as the meme coin has risen by 0.35%.
SHIB/USD chart by Trading View
SHIB is trading similarly to DOGE as it is also located near the support level at $0.00002310. However, the volume is declining, which means that bears are getting weaker, confirming buysers' power.
All in all, if bulls can keep the rate above the support, there is a chance to see slight growth to the middle of the channel ($0.000026).
SHIB is trading at $0.00002404 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.