Cryptocurrency Prices Today: Bitcoin Reversal Sets Recovery Mode in Cardano, Toncoin

The Bitcoin price reversal from the psychological level of $25000, has triggered a relief rally among the majority of major cryptocurrencies. Amid this recovery sentiment, some could hold a higher potential of rebound aligned with the bullish setup in the technical chart.

At 7:07 a.m. on Wednesday, the global crypto market cap is at $1.06 Trillion, projecting a 0.25% drop. Meanwhile, the 24-hour crypto market volume hits $26.04 Billion, showing a 3.75% loss.

Also Read: BTC Price At Takeoff Threshold: Will Bitcoin Hit $100k Post Halving In 2024?

BTC Price Analysis: Trendline Breakout Sets a Rally Beyond $28000

Source- Tradingview

On September 12th, Bitcoin price displayed a significant trend reversal, bouncing back strongly from its $25,000 support. Since then, it has recorded a promising 6% gain, bringing its current market value to an impressive $26,530.

Amid this rally, the coin price has recently reached a downsloping resistant trendline, which carried ongoing correction for over a month. If the bulls manage to keep the coin price above the recently breached trendline – specifically, the $26,000 mark – it’s very likely we’ll see a further rally. 

With the current market sentiment and buying pressure, there’s potential for the coin price to surge another 6.5%, positioning it to challenge the formidable $28,000 barrier.

TON Price Analysis: Bullish Breakout from $2 Sets $TON for Prolong Recovery

Source- Tradingview

Since the beginning of August, the Toncoin price has been on an impressive uptrend, defying broader market tendencies and registering a remarkable 88% growth. From a trading price of $1.162, it has surged to a commendable $2.23.

Amid this rally, the coin price has recently breached the $2 psychological barrier. As of this report, the TON price is trading at $2.22, marking an intraday gain of 5.9%.

If the current bullish momentum maintains its course, this altcoin is poised for a 7% rise to test the next major resistance at $2.37. A breakout at this point could signal the continuation of its bullish trend, offering further opportunities for investors

ADA Price Analysis: Awaiting A Breakout Beyond Falling Trendline

Source- Tradingview

For over two months, the Cardano coin price has witnessed a steep correction under the influence of a downsloping trendline. During this correction, ADA price consistently faced strong resistance from a descending trendline, limiting its upward potential.

However, the recent shift in market sentiment has favored ADA buyers and surged the prices by 5.3% to reach the current price of $0.25. If this bullish trajectory continues the altcoin is likely to break past the lingering overhead resistance.

The post-breakout rally could surge the price by another 11.5% to reach $0.28.