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.
Bulls are trying to restore the lost initiative. However, some coins keep trading in the red zone.
BTC/USD
The rate of Bitcoin (BTC) has gone down by 14% after a few weeks of growth.
Despite the sharp decline, Bitcoin (BTC) keeps trading above the important support level at $20,700. If bulls can hold this level until the end of the day, the bounce back may lead to a test of the $22,000 zone shortly.
Bitcoin is trading at $21,466 at press time.
ETH/USD
Ethereum (ETH) has lost even more as the price has dropped by almost 20% over the last week.
Ethereum (ETH) has also bounced off its support level at $1,560, which means that buyers are not ready to give up. Thus, the selling volume is low, confirming bears' weakness. In this case, a correction to the $1,650-$1,700 zone can happen within the next days.
Ethereum is trading at $1,599 at press time.
XRP/USD
XRP is not an exception to the rule, falling by 10.52%.
On the daily chart, XRP is looking worse than Bitcoin (BTC) and Ethereum (ETH) as the rate has gone below the important $0.35 mark. At the moment, the price is located in the middle of the wide range, which means that neither side is dominating. However, a further decline to $0.32 may be a prerequisite for an ongoing fall to the support level at around $0.30.
XRP is trading at $0.3429 at press time.
ADA/USD
Cardano (ADA) has lost the most value on the list today, as the price has dropped by 21% over the past 7 days.
Cardano (ADA) is returning to the support level at $0.3974 on the daily time frame. If the candle closes below $0.46, there is a high chance to see a test of the $0.40 area by the end of the current month.
ADA is trading at $0.4601 at press time.
BNB/USD
Binance Coin's (BNB) price has dropped the least, only by 9.33%.
Binance Coin (BNB) is trying to return above the vital $300 mark. This level plays a key role in terms of a further mid-term bull run. If buyers succeed, the rise may continue to the $320-$330 range soon.
BNB is trading at $298 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin