How high are Bitcoin’s chances of sustaining its gains and pushing altcoins higher?
Bulls remain dominant in the cryptocurrency market. However, not all major currencies are green.
Bitcoin / US Dollar
Buyers remained active yesterday, and the price of Bitcoin (BTC) continued to rise. During the day, the pair breached the psychological level of $50,000, and a fresh bullish impulse pushed the bitcoin price to $52,000 at the end of the day.
A new high was recorded in October at night near the $51,915 level.
Despite the fact that buying volume fell this morning, the price has settled above the $50,000 mark and may continue to rise towards the $58,000 resistance.
Bitcoin is trading at $54922 at press time.
DOGE / USD
DOGE is the only loser from the list, with the coin declining by 1.68%.
Despite today’s low, DOGE is looking more to the upside than to the downside. The altcoin bounced back the support at $0.1940 and consolidated above it. The trading volume is also high which means that the bulls are ready to maintain the momentum.
In this case, a test of the resistance at $0.3495, where the bears may take control, is the most likely scenario.
DOGE is trading at $0.2561 at the time of writing.
Chip / US dollar
SHIB stock is the biggest gainer today, up about 25% since yesterday.
SHIB has seen three days of growth, and there is a high chance of seeing a short-term correction of the previous day’s high around Satoshi 2010. If the bulls fail to maintain this level, the correction may continue to the 150 satoshi area.
SHIB is trading at 2,205 satoshis at the time of writing.