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The weekend has started with the continued fall of the cryptocurrency market as Bitcoin (BTC), as well as altcoins, is in the red zone.
BTC/USD
The passing week has been bearish for Bitcoin (BTC) as its exchange rate has gone down by 12.69%.
Saturday has started with the sharp fall of Bitcoin (BTC), however, it has successfully bounced off the support at $30,100. From the technical point of view, the decline may continue if bulls fail to fix above the crucial resistance level at $32,000.
Bitcoin is trading at $31,490 at press-time.
ETH/USD
Ethereum (ETH) is even a bigger loser than Bitcoin (BTC) as ETH price has decreased by almost 20% since the beginning of the week.
Ethereum (ETH) is trying to keep trading in the sideways range, however, bears continue pushing the price deeper. If sellers break the support at $1,730 and fix below it, the next level at $1,520 might be achieved shortly.
Ethereum is trading at $1,800 at press-time.
BNB/USD
The Binance Coin (BNB) price also failed to withstand the bears' pressure, following by the price drop by almost 5% over the last day.
According to the daily chart, Binance Coin (BNB) is neither bullish nor bearish as the native coin of Binance is located in the sideways trend. It made a false breakout of the level at $309, however, BNB keeps trading above $240.
If the trading volume remains at the same level, the support at $202 may be tested soon.
BNB is sitting at $278 at press-time.
ADA/USD
Cardano (ADA) has lost more than Binance Coin (BNB) as the price has fallen by 5.36%.
Cardano (ADA) is trading similarly to Binance Coin (BNB) as the picture is not clear yet whether bears or bulls are dominating at the moment. The selling trading volume has declined. This means that the price may come back to the zone of the highest liquidity around $1.50 next week.
IOTA/USD
IOTA is not an exception to the rule, going down by 8%.
IOTA has bounced back from the resistance at $0.8723, having confirmed the power of bears. If buyers fail to fix above this level soon, the support at $0.61 may be broken and IOTA might fall to $0.40.
IOTA is trading at $0.76 at press-time.
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.
Gamza Khanzadaev
Yuri Molchan
Vladislav Sopov
Dan Burgin
Alex Dovbnya