The king of cryptocurrencies finds buyers at $26,100 while altcoins continue to show a negative trend. So, what do the current data indicate? As September is coming to an end, which altcoins have impressed with their performance today?
Bitcoin Price Predictions
The readings on the daily chart are sending mixed signals for BTC. On the bullish side, the price regained the $25,600 range after dropping below it on September 11. However, the price has not been able to surpass the declining resistance line since reaching its highest level of the year.
Furthermore, the upward divergence that caused the recovery of the $25,600 area still holds strong and is currently at level 41. The closest support on the daily timeframe is at the $25,600 level, which is just below 3% of the current Bitcoin price. On the other hand, a strong resistance zone is located at the $29,250 region.
Therefore, the short-term price performance will be determined by whether the price breaks out of the declining resistance line or falls below $25,600. In the case of a breakout, we could see a rise to $29,250 with at least a 10% increase. The extreme target in the bearish scenario is $24,800.
Top Performing Altcoins
In the last 24 hours, there are no altcoins among the top 100 cryptocurrencies that have gained more than 4%. Among the top 100-200 cryptos, GLMR Coin is leading the way. Investors influenced by the example of FRONT Coin have driven up its price as Binance listed it in futures trading. Binance listings following rallies on Upbit exchange are causing parabolic increases in altcoin prices. The price of GLMR Coin is currently continuing with an increase of about 50%.
LOOM Coin has increased by 20% on a daily basis. This altcoin, which surpassed GLMR Coin with its weekly gains, has experienced an increase of over 129%. TOMI, STORJ, and WLD continue the day with double-digit increases. Despite the volatility in the price of BTC, these altcoins show positive divergence, except for LOOM’s $200 million volume. This shows how even medium-sized demand can push prices higher.
RNDR, OP, and EOS lost between 2-3% today while remaining largely stable among the top 100 cryptocurrencies.
