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The current market charts of the crypto world show some substantial increases in price, especially in the top-performing assets. Bitcoin (BITCOMP) and Ethereum (ETH-X) have been on a long Bull run, and it seems like Cardano (ADA-X) and Binance Coin (BNB-X) are also following the course.

Bitcoin Bullish Trend

Bitcoin has, in the last two weeks, been on continuous price recovery. Currently, the coin is trading at nearly $47 thousand, which it reached in the past 24 hours. However, the coin immediately dropped back down, but it will likely surpass the $47 thousand level again soon.

A few days ago, Bitcoin surpassed one of its resistance levels, the $45 thousand mark, and according to analysts, it will face another bout of resistance at $48.9 thousand. The long-term resistance level is currently at $50 thousand. 

The trading volumes of Bitcoin in the past 24 hours, according to coinmarketcap, are surging. The volumes have increased 13%, showing that investor confidence is growing. If the confidence continues increasing, Bitcoin could easily surpass the $50 thousand long-term resistance and maybe hit the experts’ expectations of $100 thousand by the end of 2021.

Although the coin is gaining value, a downtrend could likely occur if the confidence in the coin reduces and the purchase volumes reduce. A slight reverse action could cause a more prolonged reverse action, driving the coin below its current supports at $45 thousand. The action could result in further corrections to $42.5 thousand.

Bitcoin’s increasing institutional adoption is one of the driving forces behind the current trends. As a result, a downtrend is currently possible but highly unlikely to occur. 

Ethereum Increasing Prices

Ethereum, like Bitcoin, is also experiencing a bullish trend that begun on Aug. 4. The coin continues to stand at second place in the CMC, with a unit price of around $3191. In the past 24 hours, Ethereum has made a slight price retracement of about 0.96%. 

Ethereum’s next resistance level is around $3.5 thousand, which could occur sooner than expected. Although CMC marks the price gain by Ethereum to 0.96%, the coin still managed to rise to a high of $3.3 thousand in the past 24 hours but later dropped suddenly. 

However, it’s much likely that the Ethereum Bull run will go on, and it may visit the resistance at $3.5 thousand and surpass it, heading to newer prices. London fork and Institutional support are continually being credited for the coin’s massive gains.

Altcoins Retracing: ADA and BNB

The third-largest crypto by market cap has also been seeing its best days in the crypto world. Cardano has massively increased prices this week alone, with the seven-day price gain standing at 51% and a 24-hour growth of 11%. The coin has been recently trading at around $2.11. The resistance is currently at $2.3, and the long-term resistance is $3. If the coin continues with this run, it could hit $3 in a few weeks. 

Binance Coin, currently number four in the CMC rankings, is also another coin on a bullish trend. BNB gained over 15% in prices in just the past seven days, hitting $408. Bitcoin’s bullish is one of the factors that affect the prices of this other Altcoins. However, Cardano’s prices are primarily a result of the impending Alonzo hardfork.