Can Cryptocurrencies Retain their Strength Against Bitcoin (BTC) in a Medium-Term Scenario?
The weekend started with a rebound in the cryptocurrency market as all top 10 coins were once again in the green.
Bitcoin / US Dollar
Bitcoin (BTC) price is up 3.32% in the last 24 hours.
Despite the rebound, Bitcoin (BTC) is not yet back in bullish territory as the major cryptocurrency has yet to consolidate above the $48,500 resistance area.
However, if the sellers continue to push the price even deeper, the decline could continue in the more liquid area around $37,000.
Bitcoin is trading at $42,591 at the time of writing.
Ada / Dollars
Cardano (ADA) is the biggest gainer from the list today as the price is up by 10%.
Cardano (ADA) succeeded in rebounding to the support level at $2.104 and is now trying to recover the lost positions. At the moment, the most likely scenario is a build-up in the $2.30-$2.50 range so that the bulls can get more strength to return to the $2.80 resistance.
ADA is trading at $2,380 at the time of writing.
BNB / USD
Binance Coin (BNB) has gained less than Cardano (ADA), with a growth of 3.85%.
Despite the rally, Binance Coin (BNB) is near the support area, which means that the bulls have not yet taken the lead. If a breakout occurs, there could be a sharp drop to the next vital level at $240.
BNB is trading at $352 at the time of writing.
DOT / US dollar
Polkadot (DOT) is trying to keep pace with the rise of Biance Coin (BNB), with growth of 6.23%.
Despite the rally, Polkadot (DOT) is trading below the vital $35 level. At the moment, neither the buyers nor the sellers are dominant, which means that sideways trading is likely to continue over the next few days.
DOT is trading at $30.60 at the time of writing.
