After the drop of the whole market, all of the top 10 coins have bounced off their support level. As a result, all of them have come back to the green zone.
BTC/USD
Bitcoin (BTC) has touched the support at $30,000, followed by a bounceoff by 13%.
On the daily chart, Bitcoin (BTC) has fixed above $40,000. However, the rise is not supported by a high buying trading volume. From the technical point of view, growth may continue to the next resistance at $45,700.
In terms of the long-term scenario, it is too early to think about a return to $50,000 or setting new peaks as bearish influence remains high. In this case, the more likely price action is consolidation in the range between $38,000 and $42,000.
Bitcoin is trading at $41,852 at press time.
ADA/USD
Cardano (ADA) has gained more than Bitcoin (BTC) as it has grown by 15% since yesterday.
Cardano (ADA) has almost recovered after yesterday's drop. As is the case with Bitcoin (BTC), the buying trading volume is not high, which means that one more decline may happen. In this regard, the drop may lead to the retest of the support at the $1.43 mark. Such a scenario is relevant for the upcoming days.
Cardano is trading at $1.86 at press time.
BNB/USD
Binance Coin (BNB) has gained less than Cardano (ADA), with growth of 9%.
Binance Coin (BNB) still has growth potential on the daily chart. The trading volume is increasing, which means that there are chances to get to the resistance level of $509 within a few days.
BNB is trading at $400 at press time.
DOGE/USD
DOGE has gained the least today as the price has gone up by only 2%.
DOGE is trading similarly to Binance Coin (BNB). On the daily time frame, the ongoing rise may continue until the coin touches the mirror level at $0.45, where bears may again seize the initiative.
DOGE is trading at $0.41 at press time.
Tomiwabold Olajide
