According to data from CoinMarketCap, crypto bulls are rebounding after a sharp decline and accompanying the rise in large-volume altcoins alongside Bitcoin. So, which cryptocurrencies can repeat the rise of Dogecoin (DOGE). Analyst Denys Serhiichuk answers this question?
Bitcoin (BTC) will be decisive for altcoins!
On October 27, bearish pressure intensified in Bitcoin (BTC) and the correction continued towards the $58,000 support. The daily low is set at $58,100. Selling volumes fell in the afternoon and Bitcoin price consolidated horizontally. Until this morning, the bears failed to test the $58,000 support and buyer activity declined sharply at $59,500. According to the analyst, this horizontal trend may continue today. If the bears break the strong support at $58,000, BTC could decline to $56,740 against the dollar. However, if BTC price can sustain its current level of $61,200, a recovery to $62,000 seems possible.
Binance Coin (BNB) must stay above $500 for a Dogecoin-like rally!
Binance Coin (BNB) looks stronger than Bitcoin (BTC) as it has risen 4.40% in the last 24 hours. Also, despite today’s sharp rise, BNB’s growth could continue if it closes above $480 reflecting yesterday’s open level. In this case, there is a high chance of breaking the resistance at $509.7. If it does, the uptrend could continue near $550. Binance Coin is trading at $505.3 at the time of writing.
As for Dogecoin (DOGE)
cryptocoin.com The DOGE price, which we have quoted as , confirmed that it will not be easily surrendered to SHIB as it has risen to 23% in the past hours. The bullish momentum almost touched the resistance at $0.3495 accompanied by trading volume. If the daily candle closes around this mark, the bulls may continue. Elsewhere, DOGE continues to trade in a wide channel between the mentioned resistance and support at $0.1940. At the time of writing, DOGE was changing hands at $0.2858.
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