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The new week has started with a cryptocurrency market bounce back as the rates of the majority of the coins are rising.
Top coins by CoinMarketCap
BTC/USD
Bitcoin (BTC) is one of the biggest gainers today, going up by 2.12%.
Image by TradingView
On the daily chart, the rate of Bitcoin (BTC) has bounced off the level at $26,688. Despite that, sellers' pressure remains relevant as the rate is located closer to the support than to the resistance. However, if the candle closes with no long wicks and in the area of $27,500, there is a high chance of seeing a slight upward move to the $28,000 zone.
Bitcoin is trading at $27,368 at press time.
ETH/USD
Ethereum (ETH) is not as big of a gainer as Bitcoin (BTC), as its rate has increased by 1.35% over the last 24 hours.
Image by TradingView
From the technical point of view, Ethereum (ETH) is trading similarly to Bitcoin (BTC) as its rate has also bounced off the support at $1,787. At the moment, one should pay attention to the daily closure. If it happens near the $1,840 mark, the rise may continue to the area of $1,880-$2,000. Such a scenario is relevant until the end of the week.
Ethereum is trading at $1,826 at press time.
XRP/USD
The rate of XRP is almost unchanged since yesterday.
Image by TradingView
Today's slight rise has not affected the overall technical picture of XRP on the daily time frame. Thus, the volume keeps falling, which means there is a low chance of seeing a sharp move soon. In this regard, ongoing sideways trading in the range of $0.42-$0.4350 is the more likely scenario for the next few days.
XRP is trading at $0.4259 at press time.
BNB/USD
The rate of Binance Coin (BNB) has risen by almost 1% since yesterday.
Image by TradingView
On the daily time frame, the price of Binance Coin (BNB) keeps rising after it almost tested the important zone of $300. Currently, traders should focus on the area around $320. If the rate of BNB approaches fast to it, there is a possibility of seeing a correction as not enough energy has been accumulated yet for a midterm upward move.
BNB is trading at $315.4 at press time.
DOGE/USD
DOGE is not an exception to the rule, going up by 0.93%.
Image by TradingView
Despite today's rise, the rate of DOGE is not ready for a continued rise yet. Such a statement is also confirmed by falling volume. It means that the rate of DOGE is likely to keep trading sideways in the range of $0.07-$0.075 until the end of the current week.
DOGE is trading at $0.07260 at press time.
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov