Bitcoin Rebounds on MicroStratergy’s Future Plans, While ADA, XRP, BNB & DOGE Turn Green

The post Bitcoin Rebounds on MicroStratergy’s Future Plans, While ADA, XRP, BNB & DOGE Turn Green appeared first on Coinpedia Fintech News

The markets turn green with the rounds of Microstratergy increasing their BTC holdings with $750 million in capital, while they already hold nearly 150 million BTC worth billions. The traders became confident of the upcoming price action and poured in huge liquidity. Interestingly, major altcoins also received a giant bullish push, as they also appear to be preparing for a notable upswing, following the Bitcoin price. 

Below are some altcoins that manifest the possibility of setting up a fine price rise in the next couple of weeks. 

Cardano (ADA) 

The ADA price has maintained a fine upward trajectory ever since it triggered a rebound from the yearly lows close to $0.2. After rising above 0.236 FIB levels, the price soared to reach 0.618 FIB levels, where it faced rejection. The price has continued to consolidate along 0.38 FIB levels since then, accumulating gains to undergo a healthy breakout. Therefore, the price, which is receiving enough bullish volume, is expected to regain $0.371 with a slight change in market sentiment. 

Ripple (XRP)

The XRP price, with the recent upswing, regained levels beyond the rising trend line that it dropped in the first few days of the 2022 bear market. However, the correction that began during the last week has continued until now. Therefore, if the price continues with the prevailing trend, then the possibility of testing the lower trend line emerges. As the RSI is showing signs of a bearish reversal, a minor pullback before a giant upswing beyond $0.83 appears to be imminent. 

BinanceCoin (BNB) 

The BinanceCoin price has been trading sideways for over a couple of months, below the interim resistance at $256.9. The trend got squeezed heavily, despite the volume continuing to hold decent levels. Besides, the StochRSI displayed a bearish divergence in the daily chart, which suggests a minor pullback may be in play. Hence, after marking an interim low at $230, a strong rebound is expected to lift the price beyond the resistance at $265. 

Dogecoin (DOGE) 

The Dogecoin price, after the recent bounce from its lows, is trading within a rising wedge that usually results in a minor pullback after reaching the apex. As the RSI is also plunging after reaching the upper resistance, a minor pullback towards the lower support of the wedge or the interim support in case of an extended bearish trend is quite possible before triggering a healthy upswing towards the higher targets close to $0.1.