After a slight correction at the start of the day, the cryptocurrency market is heading towards new local peaks.
Bitcoin (BTC) is the biggest gainer today, up 2.47% over the past 24 hours.
On the daily chart, Bitcoin (BTC) could not bounce back to the $23,000 mark yesterday. However, the rate did not drop below $21,000, which means that the bulls are ready for a sustained upward move.
If buyers can initiate action by the end of the day, a further rise to the nearest resistance at $23,288 is likely in the coming weeks.
Bitcoin is trading at $21,851 at press time.
Binance Coin (BNB) has not shown an increase of 1.09% like Bitcoin (BTC).
Binance Coin (BNB) has made a false breakout of the local resistance level at $245.2. But the price does not seem set to decline as the coin on the native exchange is trading above the crucial $240 area. If the bears cannot reverse the situation, it is likely to see a test of the $250 mark soon.
At press time, BNB is trading at $241.8.
Cardano (ADA) is showing a similar price movement as BNB, rising by 1.12%.
Despite the rise, Cardano (ADA) is neither bullish nor bearish as the price moves away from support and resistance. Sideways trading is also confirmed by low volume, meaning neither side is ready for a sharp move. Growth can happen only if the bulls return the rate to the $0.50 area.
ADA is trading at $0.4712 at press time.