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.
Bears are about to seize the initiative on the first day of the week, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.57% over the previous 24 hours.
Image by TradingView
On the daily chart, the rate of Bitcoin (BTC) has bounced off the vital $30,000 zone, which means that buyers are not going to give up so easily. Until the price is above the mentioned area, there is a high chance to see an ongoing rise, followed by a possible resistance breakout.
Such a scenario is relevant until the end of the month.
Bitcoin is trading at $30,357 at press time.
ETH/USD
Ethereum (ETH) could not withstand sellers' pressure, going down by 0.39%.
Image by TradingView
From the technical point of view, Ethereum (ETH) is looking worse than Bitcoin (BTC) as the rate is far from the resistance level. Thus, the price is below the $1,900 area, which means that bulls are becoming weaker. A further upward move can be possible only if the bar closes above $1,935.
Ethereum is trading at $1,886 at press time.
XRP/USD
XRP is the biggeser loser from the list today, declining by 1.72%.
Image by TradingView
XRP has not followed the rise of other coins as its price has failed to fix above the $0.49 zone. If the situation remains the same, traders are likely to see the breakout of the interim support level at $0.4785. If that happens, the drop can continue to the $0.47 area soon.
XRP is trading at $0.4828 at press time.
ADA/USD
The rate of Cardano (ADA) has kept up with the fall of XRP.
Image by TradingView
The rate of ADA could not fix above the $0.30 zone, which means bears might locally seize the initiative. If today's candle closure occurs below yesterday's low at $0.2885, the decrease may lead to the test of the $0.28 area by the end of the week.
ADA is trading at $0.2890 at press time.
BNB/USD
Binance Coin (BNB) is not an exception to the rule, going down by 0.14% since yesterday.
Image by TradingView
From the technical point of view, the rate of Binance Coin (BNB) is in the middle of the channel, accumulating energy for a further sharp move. At the moment, there is little chance to see growth or a fall. However, if buyers want to get back in the game, they need to return the price above the $250 mark. Only in that case, one can expect a resistance breakout.
BNB is trading at $237.8 at press time.
Arman Shirinyan
Godfrey Benjamin
