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.
The market keeps booming as all of the top 10 coins remain trading in the green zone.
BTC/USD
Yesterday, buyers tried to form a strong bullish momentum to break through the strong resistance at $58,000. The daily maximum was recorded in the area of $58,930, but the Bitcoin (BTC) price was unable to gain a foothold above the key resistance and returned to the area of yesterday's low this morning.
The rollback is not over yet and, during the day, it may continue to the area of the two-hour EMA55. If this moving average fails to stop the decline, then most likely today one will not be able to observe the recovery to the psychological level of $60,000.
Thus far, the BTC/USD pair has not left the downtrend channel of the local downtrend. If the level of average prices supports the pair, then by the end of the day, a breakout above $60,000 is possible.
Bitcoin is trading at $58,937 at press time.
ETH/USD
Yesterday, the Ethereum (ETH) price managed to gain a foothold above the level of $4,300 and continue its recovery to the $4,500 area.
The local maximum was set at the level of $4,508 tonight. A good signal to confirm the end of the downtrend can be a retest of the $4,800 level. In case buyers can fix above it, they have the chance to set a new peak and get to the vital mark of $5,000.
Ethereum is trading at $4,715 at press time.
BNB/USD
Binance Coin (BNB) has grown the least from the list. The rate of the native exchange coin has gone up by only 2.38% since yesterday.
Despite the relatively slow rise, Binance Coin (BNB) is approaching the vital resistance at $669.30. The growth is supported by a high trading volume, which means that a breakout may provoke sharp growth.
If that happens and BNB fixes above the green line, the levels of $700 and $800 can be attained soon.
BNB is trading at $632.20 at press time.
Vladislav Sopov