Have BTC, ETH, BNB, ADA entered the medium-term growth phase?
On the last Sunday of 2021 the market is neither up nor down. While some coins are still trading in the green, others have entered a correction phase.
While not much has changed today, the price of Bitcoin (BTC) has increased 8.5% in the past seven days.
Bitcoin is still trading within a channel, accumulating strength for a potential upward move. Until the price stays above the $ 47,000 mark, the bulls are still in control of the market.
BTC price chart | Source: TradingView
If buyers can hold out above the all-important $ 50,000 zone, it increases the chances of a move near the $ 53,300 mark by year-end.
Bitcoin is trading at $ 50,565 at press time.
Although the price of Ethereum (ETH) has increased slightly in the past 24 hours, its growth is not that great compared to BTC.
ETH price chart | Source: TradingView
ETH is in the most liquid area at USD 4,050. The trading volume is low, which means that ETH has not raised enough energy to make an even stronger move.
All in all, bulls can take the initiative to fix ETH price above $ 4,200. A bearish scenario is also possible if ETH returns to support $ 3,700.
Ethereum is currently trading at $ 4,047.
The price of Binance Coin (BNB) is up almost 1% while the weekly return is + 3.2%.
BNB price chart | Source: TradingView
The BNB acts similarly to the ETH in that the token is also in a broad channel, with no clear bearish or bullish signals. If the price stays above $ 500, BNB could continue to rise slightly to the next resistance area around $ 600. Such a scenario should last until the end of the month. Currently, BNB price is pretty far from the $ 489 support level, which is important for bulls.
Binance Coin is trading at $ 548 at press time.
Cardano (ADA) is the largest bullish altcoin by weekly price change, up 26%.
ADA price table | Source: TradingView
Cardano (ADA) is trading at $ 1.57, and if the weather goes well, bulls can push the price of ADA all the way down to $ 2. However, if such a scenario is to play out in the next few weeks, buyers will need to build up more strength to push further upwards.
You can see the coin prices here.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.