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BTC, DOGE and BNB Price Analysis for October 28

Price Predictions
Thu, 10/28/2021 - 15:32
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Denys Serhiichuk
Which coins can repeat the rise of DOGE?
BTC, DOGE and BNB Price Analysis for October 28
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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Bulls have recovered after a sharp drop, and all of the top 10 coins have come back to the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday morning, the bearish pressure intensified and the correction continued toward the support of $ 58,000. The daily low was set at $58,100.

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

In the afternoon, sales volumes declined, and the Bitcoin price consolidated sideways. Until this morning, bears did not manage to test the support of $58,000, and the activity of buyers was sharply declining at the level of $59,500. This sideways trend may continue today.

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If the bears manage to push through the strong support of $58,000, then the pair may drop to the level of $56,740. If the BTC price fixes above the $58,000 level, then a recovery to $62,000 is possible.

Bitcoin is trading at $61,348 at press time.

BNB/USD

Binance Coin (BNB) is looking stronger than Bitcoin (BTC) as the rate of the native exchange coin has risen by 6.14% over the past 24 hours.

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

Despite today's sharp rise, the ongoing growth of BNB may continue if the altcoin closes today above the $480 mark that reflects yesterday's open level.

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In this case, there is a high chance to see the breakout of the resistance at $509.7. If that happens, the rise may continue to the zone around $550.

Binance Coin is trading at $484.4 at press time.

DOGE/USD

DOGE is the biggest gainer today as its rise has constituted 23% since yesterday.

DOGE/USD chart by Trading View
DOGE/USD chart by Trading View

DOGE has almost touched the resistance at $0.3495, accompanied by the high trading volume. If the daily candle closes around this mark, bulls mifht continue the growth tomorrow. In another case, the coin keeps trading in a wide channel between the mentioned resistance and the support at $0.1940.

DOGE is trading at $0.3037 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.