The weekend has started with a continued drop on the cryptocurrency market as none of the coins are in the green zone.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 4.20% over the last 24 hours.
On the daily chart, the price of Bitcoin (BTC) has returned to the middle of the channel after the false breakout of the resistance at $18,157. At the moment, bears have again seized the initiative as bulls could not fix the price above the $18,000 zone.
If the decline continues to the $16,000 mark, there is a high chance to see a breakout of the support at $15,632.
Bitcoin is trading at $16,754 at press time.
ETH/USD
Ethereum (ETH) has lost more value, falling by 7.45%.
Ethereum (ETH) is trading similarly to Bitcoin (BTC) on the daily time frame. Currently, the rate is located closer to the support than to the resistance. The price is far away from the $1,300 mark, which means that traders can expect a test of $1,100 within a few days.
Ethereum is trading at $1,182 at press time.
Arman Shirinyan
Godfrey Benjamin
Alex Dovbnya