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Despite the growth yesterday, bulls cannot hold the initiative, and the market has faced a sharp dump.
BTC/USD
The price of Bitcoin (BTC) has dropped much less compared to the other main coins. It has declined by 7.84% over the last day.
On the daily chart, the price broke the vital support at $39,573, having confirmed the bearish trend. Until the rate is located below this level, bears control the situation on the market.
The next area where a short-term bounceback may happen is the mirror level at $36,623.
Bitcoin is trading at $38,621 at press time.
DOGE/USD
The rate of DOGE has gone much deeper than Bitcoin (BTC), falling by 7.86% since yesterday.
DOGE has been going down for six days in a row with no bounceback signals. At the moment, sideways trading is the more likely scenario until the price is above the support level at $0.1310.
However, if the bears' pressure continues and the daily candle fixes below, one may expect a further drop to $0.10.
DOGE is trading at $0.1516 at press time.
SHIB/USD
The decline of SHIB was the biggest, going down by almost 8%.
From the technical point of view, one needs to pay close attention to the support level at $0.00002537 as, if the price breaks it, the price drop may get SHIB to the area around $0.00002010 shortly.
SHIB is trading at $0.00002552 at press time.
Vladislav Sopov