The correction has arrived on the cryptocurrency market as the rates of most of the coins are falling.
BTC/USD
The rate of Bitcoin (BTC) has fallen by almost 1% over the last 24 hours.
Despite the fall, the price of Bitcoin (BTC) has not entered the bearish zone yet, as the rate is above the support at $24,211. From another point of view, buyers have lost the $25,000 mark, which means that sellers have locally seized the initiative. In this regard, a slight drop to the $24,400 area may happen soon.
Bitcoin is trading at $24,681 at press time.
ETH/USD
Ethereum (ETH) is more of a loser than Bitcoin (BTC), going down by 1.92%.
The current decline has not affected the overall technical picture of Ethereum (ETH) as the main altcoin keeps accumulating energy for a further sharp move. If buyers want to continue the rise, they need to get the price back above the $1,720 mark.
Only in that case is there a chance to see the breakout of the resistance, followed by a blast to the $1,800 zone.
Ethereum is trading at $1,676 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov