Coinfomania: Where blockchain and cryptos live.

Crypto Market Outlook: Bitcoin (BTC), Binance coin (BNB), Cardano (ADA).

The last 24 hours have been bullish for the crypto market as the market value rose by more than $200 billion. The fear, uncertainty and doubt that was prevalent in the market are also seeing a reduction as the fear and greed index reading increased from 10 to 22 as of the time of writing.

The market a little price correction a few hours to the time of writing. The price correction saw most coins shade off 2%-5% of their previous gains. Various cryptocurrency are stable, trading within a particular price level.

BTC

The King coin saw a fair share of the market recovery that took place yesterday as it gained 7% in the last 24 hours. Crypto’s largest coin saw an intraday high of $39,835 and a low of $35,990.

Bitcoin surged as high as 14% in the last 24 hours but is facing little market correction as of the time of writing. BTC may revert to trading below $35,000 if the slight market correction does not halt.

The $35,000 support is the strongest and may take an increased number of bears to flip this support. The bulls will defend the $35k support and may use it as the base to pump prices to testing the intraday high.

BNB

The last 24 hours saw the Binance coin achieve a lot. BNB increased by 21% in the last 24 hours as it records an intraday high of $374 and a low of $286. BNB also climbed up the market cap ranking as the once ranked sixth coin is now the fourth-largest coin market cap.

The Binance coin is also suffering a mild downward price retracement. The fourth-largest coin by market cap is trading a little above $350. If the price retracement intensifies, BNB may dip as low as $320. A price rally before $340 may see BNB surge as high as $380.

ADA

The fifth coin by market cap saw a decrease in trading volume as its 24 trading volume reduced by 30% resulting in a not up to par performance by the coin in the last 24 hours. Cardano recorded gains of more than 6% in the last 24 hours with an intraday high of $1.65 and a low of $1.40.

Just like the rest of the highlighted cryptocurrency, ADA is also experiencing a little price drop as of the time of writing. Prices may dip as low as $1.40 if the price drop persists. A price rally may propel ADA as high as $1.7 before the end of the next 24 hours.

The last 24 hours were filled with intense bullish actions as the crypto market surged.  The next 24 hours may be a continuation of the price hike. Let’s see how prices play out.


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