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The cryptocurrency market is facing a slight decline after a continued rise.
BTC/USD
The rate of Bitcoin (BTC) has declined by 0.33% over the last 24 hours.
Despite today's decline, the position of Bitcoin (BTC) is unchanged since yesterday. Thus, the volume has fallen, which means that the main crypto is not ready for a further sharp move. All in all, the more likely scenario is sideways trading between $21,000 and $22,000 for the next week.
Bitcoin is trading at $21,167 at press time.
ETH/USD
Ethereum (ETH) has lost more than Bitcoin (BTC), as the leading altcoin has dropped by 1.40%.
Even though Ethereum (ETH) has fixed above the $1,000 zone, it could not get to the $1,200 mark for continued growth. In addition, the rate could not overcome yesterday's peak at $1,244. In this case, the coin needs more time to accumulate energy. Likewise, one should not expect any sharp moves shortly.
Ethereum is trading at $1,193 at press time.
BNB/USD
Binance Coin (BNB) has followed the overall market correction, losing 2.55% of its price share since yesterday.
On the daily chart, Binance Coin (BNB) is trading similar to Ethereum (ETH) as the native exchange coin might need more time for a further move. However, if buyers can hold the price above the resistance level at $236.80, there are chances to see a breakout in the next few days.
BNB is trading at $235 at press time.
ADA/USD
Cardano (ADA) is the biggest loser today, falling by 3.43%.
From the technical point of view, Cardano (ADA) is neither bullish nor bearish as the altcoin is far from its support and resistance levels. However, one needs to pay attention to $0.50, which is vital for bulls to break to seize the initiative. If they can do that, growth is possible to $0.55.
ADA is trading at $0.4481 at press time.
SOL/USD
Solana (SOL) has fallen the least today, going down by 0.29%.
Solana (SOL) keeps accumulating power after the breakout of the resistance level at $37.37 that serves as a mirror level now. Until the rate is above it, bulls control the situation on the market. In this regard, we are likely to see the test of the nearest level at $44.87 rather than a fall.
SOL is trading at $40.73 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin