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Bulls have turned out to be more powerful than bulls again as the rates of most of the coins are going down.
BTC/USD
Bitcoin (BTC) is going down, falling by almost 2% since yesterday.
Bulls could not continue the growth after yesterday's bullish candle, which means that it is too early to think about a market correction. If the pressure continues and the rate approaches the $29,000 mark, there is a good chance of seeing a drop to $28,500 by the end of the week.
Bitcoin is trading at $29,182 at press time.
ETH/USD
Ethereum (ETH) is less bearish than Bitcoin (BTC) as the fall has made up 1%.
On the daily chart, Ethereum (ETH) has made a false breakout of the $2,000 mark against the declining selling volume. If buyers cannot seize the initiative and return the rate above the mentioned level, traders can expect a sharp drop to the zone of $1,850 soon.
Ethereum is trading at $1,958 at press time.
XRP/USD
XRP has lost the least from the list today with a fall of less than 1%.
Even though the rate of XRP is almost unchanged since yesterday, the price is approaching the important mark at $0.40, which is crucial for bulls to hold. If they fail to do that, the further drop may lead to the test of the area of $0.37-$0.38 within the next few days.
XRP is trading at $0.4126 at press time.
BNB/USD
Binance Coin (BNB) is not an exception to the rule, falling by 2.10%.
Binance Coin (BNB) has also lost its crucial level at $300. The selling volume remains high, confirming that bears are not ready to give up. In this case, there is a high possibility to see the test of the $280 level shortly.
BNB is trading at $299 at press time.
ADA/USD
Cardano (ADA) is following the drop of BNB, declining by 4.53%.
Cardano (ADA) could not even test the $0.55 level and is now on the way to $0.50. If buyers cannot save this level, the fall may lead to the test of the zone around $0.45 by the end of the month.
ADA is trading at $0.51 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin