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Most coins remain in the red zone; however, there are a few exceptions to the rule, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 1.69% over the last 24 hours.
On the hourly chart, the price of BTC may have set a local resistance of $86,979. If the daily bar closes far from that mark, bears may again seize the initiative, which may lead to drop to the $85,000 range.
On the bigger time frame, the picture is less positive for bulls. If buyers want to get back in the game, they need to restore the rate above the important area of $90,000.
Denys SerhiichukUntil it happens, bears keep controlling the situation on the market.
From the midterm point of view, one should pay attention to the weekly bar's closure in terms of the $89,392 level. If it happens below it and with no long wick, the decline is likely to continue to the $80,000 area.
Bitcoin is trading at $86,338 at press time.
Dan Burgin
Vladislav Sopov