Cryptocurrency Prices Today: Bitcoin, Cardano, Toncoin Analysis

Cryptocurrency Prices Today: Bitcoin, Cardano, Toncoin Analysis

Amid a recent shift in market sentiment the crypto market enters a relief rally mode, offering buy opportunities to interested traders.

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The Bitcoin price reversal from the psychological level of $25000, has triggered a relief rally among the majority of major cryptocurrencies. Amid this recovery sentiment, some could hold a higher potential of rebound aligned with the bullish setup in the technical chart.

At 7:07 a.m. on Wednesday, the global crypto market cap is at $1.06 Trillion, projecting a 0.25% drop. Meanwhile, the 24-hour crypto market volume hits $26.04 Billion, showing a 3.75% loss.

Also Read: BTC Price At Takeoff Threshold: Will Bitcoin Hit $100k Post Halving In 2024?

BTC Price Analysis: Trendline Breakout Sets a Rally Beyond $28000

BTC Price AnalysisSource- Tradingview

On September 12th, Bitcoin price displayed a significant trend reversal, bouncing back strongly from its $25,000 support. Since then, it has recorded a promising 6% gain, bringing its current market value to an impressive $26,530.

Amid this rally, the coin price has recently reached a downsloping resistant trendline, which carried ongoing correction for over a month. If the bulls manage to keep the coin price above the recently breached trendline – specifically, the $26,000 mark – it’s very likely we’ll see a further rally. 

With the current market sentiment and buying pressure, there’s potential for the coin price to surge another 6.5%, positioning it to challenge the formidable $28,000 barrier.

TON Price Analysis: Bullish Breakout from $2 Sets $TON for Prolong Recovery

TON Price AnalysisSource- Tradingview

Since the beginning of August, the Toncoin price has been on an impressive uptrend, defying broader market tendencies and registering a remarkable 88% growth. From a trading price of $1.162, it has surged to a commendable $2.23.

Amid this rally, the coin price has recently breached the $2 psychological barrier. As of this report, the TON price is trading at $2.22, marking an intraday gain of 5.9%.

If the current bullish momentum maintains its course, this altcoin is poised for a 7% rise to test the next major resistance at $2.37. A breakout at this point could signal the continuation of its bullish trend, offering further opportunities for investors

ADA Price Analysis: Awaiting A Breakout Beyond Falling Trendline

ADA Price AnalysisSource- Tradingview

For over two months, the Cardano coin price has witnessed a steep correction under the influence of a downsloping trendline. During this correction, ADA price consistently faced strong resistance from a descending trendline, limiting its upward potential.

However, the recent shift in market sentiment has favored ADA buyers and surged the prices by 5.3% to reach the current price of $0.25. If this bullish trajectory continues the altcoin is likely to break past the lingering overhead resistance.

The post-breakout rally could surge the price by another 11.5% to reach $0.28.

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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.


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