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The correction continues on the cryptocurrency market, however, there are some exceptions to the rule.
BTC/USD
The price of Bitcoin (BTC) has declined by 0.07% over the last 24 hours.
On the daily chart, the rate of BTC is coming back to the recently formed support level of $50,647. If buyers cannot seize the initiative by the end of the day, the accumulated energy might be enough for a breakout, followed by a move to the vital $50,000 zone.
Bitcoin is trading at $51,177 at press time.
ETH/USD
Unlike BTC, the rate of Ethereum (ETH) has increased by 1.27% since yesterday.
From the technical point of view, the price of the leading altcoin is trading sideways, as neither bulls nor bears have seized the initiative yet. However, if the rate gets to the $2,900 zone, there is a chance to see a test of the $2,800-$2,850 area shortly.
Ethereum is trading at $2,942 at press time.
Arman Shirinyan
Dan Burgin
Alex Dovbnya