The crypto market is yet to fully recover from a “bloody Sunday” as prices are still on a dip and not up to par with their previous average prices.
Here is the crypto market outlook for today
After the massive deadly price correction on Sunday, Bitcoin is yet to steady above $57,000. Unfortunately, the last 24 hours saw the crypto asset record loss of more than 3%.
Bitcoin is showing signs of recovery as it gained 2% in the past hour before the time of writing. The past 24 hours also the king coin trade between $57,500 and $53,600. The next 24 hours will see the asset trade between $54,000 and $57,000 with strong resistance at $56,000.
Binance Coin (BNB)
BNB is showing more signs of recovery as it is consistently trading above $470. Unfortunately, the coin is unable to be consistent above $500. BNB has lost more than 4% in the last 24 hours.
The cryptocurrency will look to trade climb higher and change its trading pattern. In a bid to achieve this, BNB will have to break out above $550. A break above $550 will only happen if the buyers prevent further price slip below $500.
XRP has lost more than 9% in the last 24 hours. Crypto’s fifth largest coin is showing little signs of a price increase as it gained 0.7% in the last hour before the time of writing.
At this time XRP is trading above $1.3 and has been in the trend of trading between $1.2 and $1.5 during the past 24 hours. More indication is hinting at a possible breakout above $1.4 before the end of the next 24 hours.
Dogecoin has been on the rise since last weekend, recording a whopping 470% in the last seven days. DOGE also reached an all-time high of $0.41 during the last 24 hours.
The bulls will look to improve prices further and possibly attain another all-time high. The bears on the other hand, will try to pull prices down even more. The bears will use the $0.4 resistance as their stronghold to prevent further price surge.
The last 24 hours offered little hope to traders. The next 24 hours promises better. Let’s see how prices play out today.
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This article is Originally posted on CoinCentral.com
Author: Gideon Geoffrey