|

Can Bitcoin (BTC) remain the example for altcoins to follow?

Buyers keep dominating on the market; however, not all coins from the top 10 list are in the green zone.

Chart

Top 10 coins by CoinMarketCap

BTC/USD

Buyers increased their volume yesterday morning and continued their bull run, setting the daily high around the $51,720 mark. After lunch, the volume of purchases decreased, but at the end of the day, a new bullish impulse formed. It updated the absolute price record of Bitcoin (BTC) to $52,640. At the same time, the total capitalization of the cryptocurrency market exceeded $1.5 trillion.

Chart

BTC/USD chart by TradingView

Growth stopped at night and the BTC price consolidated in a narrow sideways range with support at $52,000. It looks like the bulls are going to continue running into the $54,000 area this morning.

Bitcoin is trading at $51,776 at press time.

ETH/USD

Yesterday morning, support at $1,750 stopped the decline and reversed the Ethereum (ETH) price to recovery. Before lunchtime, buyers managed to overcome the resistance of $1,800, and at the end of the day, they restored the pair to the zone of the recent maximum.

ETHUSD

ETH/USD chart by TradingView

Last night, the Ethereum (ETH) price set a new absolute maximum at $1.918, and in the morning, it pulled back began, which could return the pair to the average price area ($1,800).

If the two-hour EMA55 stops the decline, then before the end of this week, the ETH/USD pair will have time to test the psychological level of $2,000.

Ethereum is trading at $1,916 at press time.

ADA/USD

Cardano (ADA) is the second-most growing coin today. Its rate has gone up by 6% since yesterday.

Chart

ADA/USD chart by TradingView

On the daily chart, Cardano (ADA) is about to retest the resistance at $0.982. Thus, there are high chances for bulls to break it as buyers keep dominating based on the trading volume. In this case, the new high might be around the level of $1.10.

Cardano is trading at $0.9343 at press time.

BNB/USD

Binance Coin (BNB) keeps setting new peaks. The rate of the native exchange token has rocketed by 33% over the past 24 hours.

BNBUSD

BNB/USD chart by TradingView

From the technical point of view, Binance Coin (BNB) might face a short-term decline as the coin is overbought according to the value of the RSI indicator. In this regard, the drop is possible to the closest level at $178.

Binance Coin is trading at $191.86 at press time.

XLM/USD

The rate of Stellar (XLM) has risen slightly since yesterday. The price change has made up 1.16%.

XMLUSD

XLM/USD chart by TradingView

Stellar (XLM) may have finished the correction enough to keep the growth. Respectively, a rise is possible to the previous resistance level at $0.60 within the nearest days.

Stellar is trading at $0.4996 at press time.

DOGE/USD

DOGE is the only coin from the list that is trading in the red zone.

DOGEUSD

DOGE/USD chart by TradingView

Although the rate of DOGE has gone down over the last day, it shows signals of short-term growth. Such a move is supported by the low selling trading volume. If the growth occurs, DOGE may come back to $0.06 soon.

DOGE is trading at $0.051 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.

More from Denys Serhiichuk
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Solana Price Forecast: SOL consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana (SOL) price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP face pressure near key technical barriers

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) hover around key levels on Monday after correcting slightly in the previous week. The top three cryptocurrencies by market capitalization could face increased downside risk as bearish momentum builds across key indicators.

Top Crypto Losers: DASH, SPX, PENGU – Privacy and meme coins lose ground

Altcoins, including Dash (DASH), SPX6900 (SPX), and Pudgy Penguins (PENGU), are leading losses as the broader cryptocurrency market remains cautious ahead of the macroeconomic data releases, such as the US Nonfarm payroll report, CPI data, and the Bank of Japan’s rate-hike decision.

Top 3 Price Prediction: BTC and ETH eyes breakout, XRP steadies at support

Bitcoin (BTC) and Ethereum (ETH) are nearing the key resistance levels at the time of writing on Friday, and a successful breakout could open the door for a fresh rally. Meanwhile, Ripple (XRP) is stabilizing around a crucial support zone, hinting at a potential rebound if buyers maintain control.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.