The last 24 hours brought a different vibe to the crypto street as most cryptocurrencies turned the red candle party into a green one. Now, most of these cryptocurrencies are stable and within a positive price region.
Here is the crypto market outlook for today
With the bulls finally back in control of the market, price advancement is almost bound to happen. The last 24 hours saw BTC start by dipping. The dip met reversal and the king coin rebounded from as low as $54,470 to as high as $59,825.
Unfortunately, Bitcoin hit a critical resistance that killed the momentum at $59,825 and resulted in a retracement back to sub-$58k this morning. Interestingly, the dip met support at $57,750 and is on the rise at the time of writing.
Using $58,310 as a key support, traders must test and break more resistance. The strongest of this resistance is the $60k mark. Following recent price movement, BTC may hit the $60k mark before the end of the next 24 hours.
As with Bitcoin, ADA also suffered a slight price dip of the back of the Coinbase listing euphoria. However, ADA quickly recovered from it and is now on an upward trend. On Tuesday, Coinfomania reported an impending surge like the one happening now.
More traders will look forward to seeing a new all-time high today. For this dream to become a reality, ADA must trade above $1.45 and hike to beat the current ATH of $1.48.
The last 24 hours saw the seventh largest coin by market cap trade within $0.45 and $0.47. The current price pattern is leading to an asymmetric triangle. This an indication of a possible price outbreak to the too or below.
For now, traders must stable prices above the $0.45 mark. Failure to stay above this mark will result in a price correction to as low as $0.44. The only way after trading above $0.45 is to pump the price as high as $0.48 to secure a test at $0.50.
UNI finds support at $29.5 as it continues its roller-coaster ride. The roller coaster ride as seen as the eighth largest coin by market hit a high of $33.2 and a low of $29.5.
At the time of writing, UNI is on the dip again. The coin will likely hit a rebound at $29.5 and hit a with enough support from traders may reach a new weekly high before the close of the next 24 hours.
Based on price movement, the highlighted cryptocurrencies will likely push to reach new weekly highs today.
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This article is Originally posted on CoinCentral.com
Author: Gideon Geoffrey