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The correction has not lasted long, and most of the coins are back to the green zone at the beginning of the week, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has risen by 1.35% over the last 24 hours.
On the hourly chart, the price of BTC has bounced off the local resistance of $107,251. If the decline continues, one can expect a test of the $106,000 range by tomorrow.
On the longer time frame, the rate of the main crypto is far from key levels despite today's rise.
If the candle closes around current prices, traders may witness ongoing sideways trading in the range of $106,000-$108,000 over the next few days.
From the midterm point of view, the picture is similar as none of the sides is dominating. In addition, the volume is going down, which means traders are unlikely to see sharp moves soon.
Bitcoin is trading at $106,653 at press time.
Vladislav Sopov
U.Today Editorial Team