The bulls may have gained the upper hand in the market as all the coins from the top 10 list are in the green zone.
BTC/USD
Yesterday, sellers attempted to form a bearish impulse and test the psychological $40,000 level. The January low is placed around $39,560.
Buyers reacted to the heavy buying volume and BTC price recovered back to the EMA55 area in two hours. Today, this moving average is $42,447. If the bulls lose momentum and are unable to resume the recovery, the market has not bottomed yet.
A break above $42.447 could be the first signal of a market reversal.
Bitcoin is trading at $41,933 at press time.
DOGE / USD
DOGE is the biggest gainer on the list today, up 5.35%.
DOGE made a false breakout out of the $0.16 zone today. Currently, neither the bulls nor the bears dominate the market. If the daily candle fixes at least above $0.15, buyers will have a chance to gain power and seize the initiative. In the other scenario, a drop below $0.1310 could confirm the ongoing bearish pressure.
DOGE is trading at $0.1506 at press time.
SHIB / USD
SHIB follows DOGE, up 3.92% since yesterday.
Despite today’s rise, the price is trading below the most liquid area of $0.00002903.
If buyers get back into the game and regain momentum, the decline can continue to the nearest support at $0.00002010 per SHIB.
SHIB is trading at $0.00002719 at press time.
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