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The new week has started with a correction of the cryptocurrency market.
Image by TradingView
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.43% over the last 24 hours.
Image by TradingView
On the daily chart, the price of Bitcoin (BTC) has once again bounced off the important zone of $30,000. Until the rate is above that mark, there is a chance to see a local upward move.
Denys SerhiichukHowever, if the bar closes above that area, one can expect a support breakout, followed by a move to $29,000.
Bitcoin is trading at $30,259 at press time.
ETH/USD
Ethereum (ETH) is more of a loser than Bitcoin (BTC), going down by 1.41%.
Image by TradingView
Ethereum (ETH) is fighting to stay above the mark of $1,900. If buyers can hold the initiative, traders are likely to see a move to the $1,960-$2,000 area by the end of the month.
Ethereum is trading at $1,911 at press time.
ADA/USD
Cardano (ADA) is not an exception to the rule, falling by 2.64% since yesterday.
Image by TradingView
Despite the fall, the price of Cardano (ADA) has bounced back to the mirror level at $0.3049. At the moment, one should pay attention to the bar's closure. If it happens far from that mark, buyers might locally seize the initiative, which can lead to an upward move to the $0.33-$0.34 area.
ADA is trading at $0.3128 at press time.
BNB/USD
The rate of Binance Coin (BNB) was followed by a drop of other coins, declining by 2.10%.
Image by TradingView
From the technical point of view, the rate of Binance Coin (BNB) is in the middle of the channel, accumulating energy for a further move. As none of the sides has seized the initiative, ongoing consolidation in the area of $240-$250 is the more likely scenario for the next few days.
BNB is trading at $243.9 at press time.
SOL/USD
Solana (SOL) is the biggest loser today, falling by 4.59%.
Image by TradingView
Despite the fall, the rate of Solana (SOL) remains above the support level at $26.46. However, if a breakout happens, it might be a prerequisite for a continued drop to the $25 zone.
SOL is trading at $26.87 at press time.
Vladislav Sopov
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya