Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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.
Denys SerhiichukOnly 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.
Godfrey Benjamin
Arman Shirinyan
Vladislav Sopov
Dan Burgin