Crypto Prices Today – BTC, DOGE, BNB
Bitcoin (BTC) trades around a six-month peak as it awaits the United States to approve the first Bitcoin futures ETF. Market players believe that the move will boost the token’s trading volumes.
The crypto space saw mixed actions on Tuesday due to a lack of directional hints. Five of the top ten cryptos traded higher early today, while others had their reactions in red. Binance Coin and Dogecoin gained up to 7%.
Meanwhile, the global cryptocurrency market cap surged marginally up to cross the $2.5 trillion areas. On the other side, the overall market volume saw a 14% increase, standing at $99.62 billion.
BTC hovers around its 6-month high as market players await the Bitcoin futures exchange-traded funds listing by the United States. The crypto community hopes that the move will boost crypto trading volumes.
Cryptocurrency analysts trust that MATIC has the potential to hit $2 in the coming sessions. That is because the altcoin prints a pattern resembling a bull flag. Remember, bull flag patterns indicate bullish continuation. The formation builds when a token’s price consolidates after a massive rally.
Polygon’s upside movement followed MATIC listing by Upbit, a leading cryptocurrency exchange based in South Korea. That way, the alternative token has seen its inflows rising. Also, MATIC witnessed increased institutional interests.
Tech View
Binance Coin (BNB) is the native coin by Binance exchange, operating as a utility token for the ‘smart’ chain. BNB works as an Ethereum competitor, allowing Binance smart chain to launch decentralized applications and run smart contracts. Holders can use BNB to discount Binance exchange charges. Moreover, multiple merchants accept the token for payments.
BNB saw its price increasing from $30 in January to more than $700, the May peak. The altcoin has followed the crypto market price movements since July, rising and falling. The previous actions had Binance Coin trading at $490. However, BNB has created a Head-Shoulder formation (according to a 1-day price chart). That is a bullish pattern suggesting a breakout, targeting $550. The alt also maintains its actions beyond its entire moving averages – 20-, 50-, 100-, and 200-day.
Vital Levels
Support – $476, $450, and $443
Resistance – $508 and $517
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