Can Bitcoin (BTC) remain the example for altcoins to follow?

2021-02-19 08:00:00

Buyers keep dominating on the market; however, not all coins from the top 10 list are in the green zone.

Top 10 coins by CoinMarketCap


Buyers increased their volume yesterday morning and continued their bull run, setting the daily high around the $51,720 mark. After lunch, the volume of purchases decreased, but at the end of the day, a new bullish impulse formed. It updated the absolute price record of Bitcoin (BTC) to $52,640. At the same time, the total capitalization of the cryptocurrency market exceeded $1.5 trillion.


BTC/USD chart by TradingView

Growth stopped at night and the BTC price consolidated in a narrow sideways range with support at $52,000. It looks like the bulls are going to continue running into the $54,000 area this morning.

Bitcoin is trading at $51,776 at press time.


Yesterday morning, support at $1,750 stopped the decline and reversed the Ethereum (ETH) price to recovery. Before lunchtime, buyers managed to overcome the resistance of $1,800, and at the end of the day, they restored the pair to the zone of the recent maximum.


ETH/USD chart by TradingView

Last night, the Ethereum (ETH) price set a new absolute maximum at $1.918, and in the morning, it pulled back began, which could return the pair to the average price area ($1,800).


If the two-hour EMA55 stops the decline, then before the end of this week, the ETH/USD pair will have time to test the psychological level of $2,000.

Ethereum is trading at $1,916 at press time.


Cardano (ADA) is the second-most growing coin today. Its rate has gone up by 6% since yesterday.


ADA/USD chart by TradingView

On the daily chart, Cardano (ADA) is about to retest the resistance at $0.982. Thus, there are high chances for bulls to break it as buyers keep dominating based on the trading volume. In this case, the new high might be around the level of $1.10.

Cardano is trading at $0.9343 at press time.


Binance Coin (BNB) keeps setting new peaks. The rate of the native exchange token has rocketed by 33% over the past 24 hours.


BNB/USD chart by TradingView

From the technical point of view, Binance Coin (BNB) might face a short-term decline as the coin is overbought according to the value of the RSI indicator. In this regard, the drop is possible to the closest level at $178.

Binance Coin is trading at $191.86 at press time.


The rate of Stellar (XLM) has risen slightly since yesterday. The price change has made up 1.16%.


XLM/USD chart by TradingView

Stellar (XLM) may have finished the correction enough to keep the growth. Respectively, a rise is possible to the previous resistance level at $0.60 within the nearest days.

Stellar is trading at $0.4996 at press time.


DOGE is the only coin from the list that is trading in the red zone.


DOGE/USD chart by TradingView

Although the rate of DOGE has gone down over the last day, it shows signals of short-term growth. Such a move is supported by the low selling trading volume. If the growth occurs, DOGE may come back to $0.06 soon.

DOGE is trading at $0.051 at press time.

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