The cryptocurrency market seems to have benefited from the banking crisis that gripped the United States. bitcoinbriefly surpassed $28,000 before falling. BTC is facing a resistance at $28,228, while support at $26,811 is formed.
Regardless, the rise of Bitcoin is good news for the cryptocurrency market, as it often leads to the rise of other tokens.
Top Three Cryptocurrencies That Can Rally With Bitcoin
Ethereumis the second-largest cryptocurrency project by market cap and generally follows BTC in price directions. On the seven-day chart, BTC gained 24.9%, while ETH gained 11.1%. ETH is facing resistance at $1820.25 and support at $1743.12.
Also, according to data on CryptoWatch, the correlation between Ethereum (ETH) and Bitcoin (BTC) over the last seven days is 0.88, which is relatively high. On the other hand, the 24-hour correlation is at 0.86.
There will also be a Shanghai upgrade on Ethereum soon, which could have an impact on its price.
Litecoin It gained 7.7% in the last seven days and fell 2.2% in 24 hours. However, LTC is likely to rise if BTC crosses $28,000. Litecoin (LTC) is facing resistance at $88.02 and support at $80.80.
Also, Litecoin (LTC) has a correlation of 0.84 with Bitcoin (BTC) over the past seven days. The 24-hour correlation is 0.81.
Cardano (ADA) is another popular cryptocurrency project that could rise alongside Bitcoin (BTC).
Koinfinans.com As we reported, ADA is facing support at $0.3337 and resistance at $0.3501.
According to CryptoWatch, ADA’s correlation with BTC has stood at 0.82 in the last seven days and 0.78 in the last 24 hours. Both figures point to a high chance of a rally should Bitcoin be able to move forward.