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BTC, ADA and BNB Price Analysis for October 9

Price Predictions
Sat, 10/09/2021 - 14:15
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Denys Serhiichuk
Can Bitcoin (BTC) continue growing faster than major altcoins?
BTC, ADA and BNB Price Analysis for October 9
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The weekend has begun with a neutral mood on the cryptocurrency market as some coins are in the red zone, while others are in red.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has increased by 0.37% since yesterday, while the growth over the last 7 days has accounted for 15.29%.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) is coming back to the level of $55,800, formed by the false breakout.

Related
BTC, ETH and DOT Price Analysis for October 7

The ongoing growth shows that bulls are ready to keep the rise going. In this case, there is a high chance to see the test of the vital zone around $60,000 next week.

Bitcoin is trading at $55,072 at press time.

ADA/USD

Cardano (ADA) is the biggest gainer today as the altcoin has risen by 0.72%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Despite the ongoing rise, Cardano (ADA) still has the power to keep the growth going. At the moment, the coin is still located in the accumulation channel, which is confirmed by the low trading volume. At the moment, the more likely scenario is the rise to the zone of $2.7-$2.8 where most of the liquidity is focused.

ADA is trading at $2.278 at press time.

BNB/USD

Binance Coin (BNB) is also located in the green zone. However, it does not look as bullish as Cardano (ADA) or Bitcoin (BTC).

BNB/USD chart by TradingView
BNB/USD chart by TradingView

Binance Coin (BNB) is facing difficulties after yesterday's sharp drop, as the native exchange coin cannot restore the lost positions. Thus, the buying trading volume is low, which means that bulls are not ready to keep the rise going from the current level. There is a strong probability of another short-term decline to the crucial level around $400.

BNB is trading at $423 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.