BTC, DOGE, and BNB Price Analysis for October 28
Bulls have recovered after a sharp drop, and all of the top 10 coins have come back to the green zone.
Yesterday morning, the bearish pressure intensified and the correction continued toward the support of $ 58,000. The daily low was set at $58,100.
In the afternoon, sales volumes declined, and the Bitcoin price consolidated sideways. Until this morning, bears did not manage to test the support of $58,000, and the activity of buyers was sharply declining at the level of $59,500. This sideways trend may continue today.
If the bears manage to push through the strong support of $58,000, then the pair may drop to the level of $56,740. If the BTC price fixes above the $58,000 level, then a recovery to $62,000 is possible.
Bitcoin is trading at $61,348 at press time.
Binance Coin (BNB) is looking stronger than Bitcoin (BTC) as the rate of the native exchange coin has risen by 6.14% over the past 24 hours.
Despite today's sharp rise, the ongoing growth of BNB may continue if the altcoin closes today above the $480 mark that reflects yesterday's open level.
In this case, there is a high chance to see the breakout of the resistance at $509.7. If that happens, the rise may continue to the zone around $550.
Binance Coin is trading at $484.4 at press time.
DOGE is the biggest gainer today as its rise has constituted 23% since yesterday.
DOGE has almost touched the resistance at $0.3495, accompanied by the high trading volume. If the daily candle closes around this mark, bulls mifht continue the growth tomorrow. In another case, the coin keeps trading in a wide channel between the mentioned resistance and the support at $0.1940.
DOGE is trading at $0.3037 at press time.Source