Introduction
As the week kickstarts, CoinMarketCap ranking reveals that buyers are making efforts to maintain their footing. The following sections delve into how various coins are faring.
Overview of Top Coins by CoinMarketCap
Here is a visual representation of the top 10 coins as ranked by CoinMarketCap.
In the following segments, we’ll delve into the behavior of some of these coins: namely, Bitcoin (BTC), Etheruem (ETH), XRP, Binance Coin (BNB), Cardano (ADA), and Solana (SOL).
Individual Analysis of Selected Coins
1. BTC/USD
- Over the last 24 hours, the BTC price has marked a 0.76% increase.
- Bitcoin succeeded in bouncing off the $29,000 zone again, indicating a mild rise.
- However, it’s too early for any concrete forecast.
- If the positive trend continues to touch $30,000 and remains steady above this mark, bulls might gain control, possibly shooting up the price to around $31,000.
- At the time of tracking, Bitcoin is trading at $29,582.
Image courtesy: TradingView
2. ETH/USD
- The ETH coin trails Bitcoin, with just a 0.28% rise since yesterday.
- The trading pattern of Ethereum mirrors that of Bitcoin.
- If the daily closure occurs without extensive wicks, the potential test of the $1,900 zone might be expected soon.
- The current trading price for Ethereum rests at $1,854.
Image courtesy: TradingView
3. XRP/USD
- XRP observes a 0.51% uptick, not too different from the rest.
- Nevertheless, the price of XRP remains far from the primary levels, which inhibits any chances for drastic changes soon.
- If the buyers wish to establish dominance, stabilizing the rate above the $0.66 zone is necessary.
- The trading price of XRP currently stands at $0.6317.
Image courtesy: TradingView
4. BNB/USD
- The Binance Coin marks a 0.24% rise in its price.
- Through a technical lens, the BNB price rests mid-way in a broad spectrum, gearing up for a significant move.
- With neither side taking control yet, the price appears poised for continued consolidation around the $240 mark in the upcoming week.
- The current trading value of BNB is $240.9.
Image courtesy: TradingView
5. ADA/USD
- Mirroring other coins, Cardano too experienced an increase, rising by 0.22%.
- The price of ADA maintains a similar trading pattern as BNB, with the price consistently trading sideways.
- The most likely scenario, in this case, anticipates ongoing consolidation in the $0.2850-$0.2950 region over the next few days.
- The current trading figure for ADA is $0.2919.
Image courtesy: TradingView
6. SOL/USD
- Solana records an approximate 1% rise in its rate over the day.
- The SOL price is set out to test the resistance level of $25.21.
- If the closure occurs around this mark, a breakout might lead to a price hike to the $26 zone soon.
- The trading value of SOL at the time of tracking is $24.82.
Image courtesy: TradingView