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BTC, EOS, ADA, LINK and DOT Price Analysis for February 2

Price Predictions
Tue, 02/02/2021 - 15:50
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Denys Serhiichuk
Can popular altcoins keep rising faster than Bitcoin (BTC)?
BTC, EOS, ADA, LINK and DOT Price Analysis for February 2
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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Contents

The market has recovered after a slight correction; however, some coins are trading in the red zone. Mainly, XRP and Bitcoin Cash (BCH) are still under bearish influence.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The important statistics on Bitcoin (BTC), EOS, Cardano (ADA), Chainlink (LINK) and Polkadot (DOT).

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$650,581,356,620 $34,966.32 $62,170,205,254 2.69%

EOS

EOS

$2,876,979,658 $3.03 $3,741,362,776 -4.14%

Cardano

ADA

$13,548,073,036 $0.4367 $6,098,609,009 24.74%

Chainlink

LINK

$9,310,469,045 $23.04 $2,607,788,688 4.24%

Polkadot

DOT

$15,226,729,278 $16.83 $2,297,452,191 4.53%

BTC/USD

The Bitcoin (BTC) price rebounded above the resistance of $34,000 yesterday. In the afternoon, sellers tried to push through the two-hour EMA55, but by the end of the day the pair managed to hold above the average price level.

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

If today the moving average EMA55 keeps the price from falling towards the POC line ($32,600), then the recovery will continue to the resistance of $36,000.

Related
BTC, ETH and XRP Price Analysis for February 1

Bitcoin is trading at $34,860 at press time.

EOS/USD

EOS is the only loser from the list today as the rate of the coin has fallen by 4.14% over the past 24 hours.

EOS/USD chart by TradingView
EOS/USD chart by TradingView

On the daily chart, EOS is bullish despite today's decline as the coin keeps trading above the vital level of $3. In addition, there is a high concentration of liquidity, which means that buyers are getting ready for the growth. In this case, one may expect the altcoin near the resistance of $3.45 shortly.

EOS is trading at $3.02 at press time.

ADA/USD

Cardano (ADA) is the top gainer today; its price has rocketed by more than 20% since yesterday.

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

Cardano (ADA) has set the new peak in 2021, having confirmed bulls' power. However, buyers might retest the mirror level at $0.4155 in order to continue the rise. Thus, the long-term buyers' dominance is also supported by the high trading volume.

Cardano is trading at $0.44 at press time.

LINK/USD

The rate of Chainlink (LINK) has also increased over the last day. The price change has accounted for 4.24%.

LINK/USD chart by TradingView
LINK/USD chart by TradingView

From the technical point of view, the growth has not ended yet, and Chainlink (LINK) has the potential to reach the nearest resistance level at $25.50 within the next few days.

Chainlink is trading at $23.08 at press time.

DOT/USD

Polkadot (DOT) is not an exception to the rule as its rate has also risen by 4% since yesterday.

DOT/USD chart by TradingView
DOT/USD chart by TradingView

Polkadot (DOT) is trading similarly to Chainlink (LINK), aiming at the resistance of $19.39. Such a move is confirmed by the lines of the MACD indicator that are about to get out of the red zone.

Polkadot is trading at $16.66 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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.