Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
After a bounceback, bulls keep controlling the situation on the market as all of the top 10 coins are in the green zone.
BTC/USD
Yesterday morning, the recovery of the Bitcoin (BTC) price was not supported by large volumes of purchases, but in the evening, trading volumes began to increase, and the bulls managed to form a powerful impulse. This marked a local maximum at $39,720.
Overnight, the pair consolidated above the average price level and is trying to stay in a narrow consolidation around the $38,700 mark. Today, the lateral range may expand.
If the two-hour EMA55 can keep the BTC price from falling, then soon the recovery can continue above $40,000. If the bears push through the $37,200 level (37,149.97 USD), then the price can sink to the support of $36,000.
Bitcoin is trading at $39,274 at press time.
DOGE/USD
DOGE is a bigger gainer than Bitcoin (BTC) as its rate has risen 12% over the past day.
DOGE remains bullish as bulls can hold the rate above the support level at $0.1204. If buyers can stay around the zone of $0.13 and accumulate power, there is a chance to see further growth to the zone of the most liquidity at $0.17. However, if seller pressure continues, the drop may lead to $0.11.
DOGE is trading at $0.1252 at press time.
SHIB/USD
SHIB is the biggest gainer today as the price of the meme coin has risen by almost 13%.
Depsite the growth, SHIB is neither bullish nor bearish as the price is located in the middle channel between the support at $0.00001704 and the zone of the most liquidity at $0.00003083 that serves as resistance. The selling volume remains high, which means that one may expect a drop to the area of $0.000020 shortly.
SHIB is trading at $0.00002436 at press time.
Vladislav Sopov