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The market has faced a huge drop as all of the altcoins have followed the sharp drop of Bitcoin (BTC).
BTC/USD
Bitcoin (BTC) has shown the least drop compared to other coins from the list. The decline has accounted for 7.63% over the last day.
Bitcoin (BTC) broke the support at $44,436 against the increasing trading volume. One needs to pay close attention to how the daily candle closes. If it closes below the level, the drop may continue tomorrow to the closest area of $41,400 where bulls can try to seize the initiative.
Bitcoin is trading at $43,935 at press time.
DOGE/USD
The fall of DOGE has constituted 10.76% since yesterday.
DOGE made a false breakout of the support at $0.2036 where the growth has started from. If it closes above it, there is a chance to see a local bounceback to the zone of the most liquidity around $0.2438 soon.
DOGE is trading at $0.2114 at press time.
CAKE/USD
CAKE is the top loser from the list as the fall has made up 11%.
Despite the sharp fall, CAKE might face a short-term rise from the current levels as it has almost reached the support.
Until the breakout happens, sideways trading will be the more likely scenario for the following altcoin. However, if bulls lose the $18.35 level, the fall may continue to $13.50.
CAKE is trading at $19.95 at press time.
Godfrey Benjamin
Gamza Khanzadaev
Dan Burgin
Alex Dovbnya
Vladislav Sopov