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.
The weekend has begun with the continued drop of the cryptocurrency market as most of the coins remain in the red zone.
BTC/USD
The rate of Bitcoin (BTC) has gone down by 1.42% over the last 24 hours.
Bitcoin (BTC) is trading around the support level at $41,870 against the increased trading volume. Sellers remain more powerful than bulls if the daily candle fixes below this mark.
In this case, there are high chances of seeing BTC near the vital area around $40,000 next week.
Bitcoin is trading at $41,967 at press time.
ETH/USD
Ethereum (ETH) has lost less than Bitcoin (BTC) as the drop has accounted for 1.37% since yesterday.
Ethereum (ETH) has fixed below the support at $3,300. As is the case with Bitcoin (BTC), the leading altcoin is under bears' pressure.
If buyers cannot seize the initiative, one may expect ETH trading around the psychological level at $3,000 shortly.
Ethereum is trading at $3,203 at press time.
BNB/USD
Binance Coin (BNB) is not an exception to the rule, falling by 0.25%.
Binance Coin (BNB) has entered the bearish zone after a breakout of the support at $489. The trading volume is high, which means that traders might have started fixing their positions. Thus, the more likely scenario is a bounceback from the zone of the most liquidity at $414.6 next week.
BNB is trading at $455.4 at press time.
ADA/USD
Cardano (ADA) has followed the decline of BNB, going down by 0.40%.
Despite the price drop, Cardano (ADA) remains stronger as the price is located above the support at $1.88. If bears keep pushing the rate more profoundly and break the mentioned mark, there is a possibility to see ADA at the nearest level at $1.072 soon.
ADA is trading at $1.072 at press time.
LINK/USD
Chainlink (LIINK) is the only coin from the list trading in the green zone, with a rise of 1.93%.
At the moment, Chainlink (LINK) is located far away from its important levels, which means that neither bulls nor bears are controlling the situation. However, the buying trading volume has increased, which might be a prerequisite for a possible further rise to the area around $30.
LIINK is trading at $25.98 at press time.
Vladislav Sopov