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The weekend has begun with a market dump as all of the coins have followed the sharp fall of Bitcoin (BTC).
BTC/USD
The rate of Bitcoin (BTC) has gone down by 16.97% over the last 24 hours.
Bitcoin (BTC) has bounced back to the zone of the most liquidity at almost $40,000. The fall has been accompanied by a high trading volume, which means that traders may have fixed their positions.
In this case, one may expect a return to the zone around $50,000. If buyers can do that, the rise may continue to $53,000 to close the CME gap.
Bitcoin is trading at $47,400 at press time.
ETH/USD
Ethereum (ETH) has not shown the same drop as Bitcoin (BTC). However, the chief altcoin has fallen by almost 15%.
Despite the fall, Ethereum (ETH) is trying to stay above the vital support at $4,000. If bulls can manage to do that by the end of the day, there is a good chance of seeing a bounce-off to $4,500 next week.
Ethereum is trading at $3,948 at press time.
XRP/USD
XRP is the biggest loser from the list, falling by 20% since yesterday.
XRP made a false breakout of the support at $0.70, followed by a sharp bounceback.
If the daily candle fixes above this level, buyers may seize the initiative and get the rate of XRP back to the nearest resistance at $0.85. Such a scenario is relevant until the end of the upcoming week.
XRP is trading at $0.78 at press time.
ADA/USD
Cardano (ADA) is not an exception to the rule, falling by 18.41%.
Cardano (ADA) has almost touched the support at $1.072. The fall has been supported by a high trading volume, which means that there is a possibility of seeing a correction soon. If that happens, slight growth may lead ADA to the closest resistance area at $1.50 shortly.
ADA is trading at $1.363 at press time.
BNB/USD
Binance Coin (BNB) has lost the least from the list, with a decline of 13%.
On the daily chart, Binance Coin (BNB) bounced back to the zone of the most liquidity around $490. If the price of the native exchange coin can remain above the vital mark at $500, bulls may begin accumulating power to restore their lost positions.
BNB is trading at $548 at press time.
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov