Have altcoins gained enough power to rise against Bitcoin (BTC)?
The weekend has begun with a neutral mood on the cryptocurrency market as some coins are in the red zone, while others keep growing.
Bitcoin (BTC) is the only falling coin from our list. The rate of the main crypto has declined by 0.18% over the last day.
Bitcoin (BTC) could not stay above the vital level at $64,300, which means that bears have seized the initiative. The trading volume has also increased, confirming sellers’ pressure. In this case, the more likely price action is the test of the liquidity zone around $62,000, where a reversal is possible.
Bitcoin is trading at $63,585 at press time.
Ethereum (ETH) is looking much stronger than BTC, going up by 0.37% over the past 24 hours.
Despite the rise, Etheruem (ETH) might need more power to keep the growth as buyers have failed to set a new peak. Currently, the main altcoin is trading in a range between the resistance at $4,842 and the support at $4,375.
If sellers’ pressure continues, one may expect a bounceback from the support by the end of the next week.
Ethereum is trading at $4,608 at press time.
Binance Coin (BNB) is the biggest gainer from the list today, as its rate has increased by 2.36%.
Binance Coin (BNB) seems to still have the strength to keep the rise going, as it remains trading above the crucial level of $600. However, at the moment, sideways trading prevails as the native exchange coin is located within a wide channel. If bulls break the resistance at $669 and fix above it, the rise may continue to $700.
BNB is trading at $634.50 at press time.