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 could not hold the initiative for long, and most of the coins are back in the red zone.
Top coins by CoinMarketCap
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.26% over the last 24 hours.
Image by TradingView
Today's slight decline of Bitcoin (BTC) has not affected its general position on the daily chart. The volatility keeps falling, which means neither buyers nor sellers are dominating at the moment. However, if the decline continues, there is a high chance of seeing a support breakout, followed by a price blast to the $25,000 zone.
Bitcoin is trading at $26,834 at press time.
ETH/USD
Meanwhile, the rate of Ethereum (ETH) has not followed Bitcoin (BTC), going up by 0.15%.
Image by TradingView
From the technical point of view, Ethereum (ETH) is trading similarly to Bitcoin (BTC) as the sideways movement continues. Thus, the falling volume confirms that one should not expect growth or a drop in the near future. In this regard, consolidation in the narrow range of $1,780-$1,840 is the more likely scenario for the next few days.
Ethereum is trading at $1,814 at press time.
XRP/USD
The rate of XRP has declined by 1.36% since yesterday.
Image by TradingView
On the daily time frame, XRP is in the middle of a wide range, accumulating energy for a further sharp move. At the moment, traders should focus on the $0.48 mark. If the closure happens near it with no long wicks, one can expect a resistance breakout.
XRP is trading at $0.4567 at press time.
BNB/USD
Binance Coin (BNB) has joined the list of falling coins, going down by 0.15%.
Image by TradingView
Even though the rate of BNB has fallen over the last 24 hours, the daily chart is looking more bullish than bearish. However, buyers need to return the rate above the interim mark of $312 to seize the initiative. Only in that case is there a possibility of seeing a trend reversal, followed by an upward move to the $315-$320 zone.
BNB is trading at $310 at press time.
ADA/USD
Cardano (ADA) is the exception to the rule, rising by 1.27%.
Image by TradingView
Despite today's rise, the price of Cardano (ADA) is far from the key levels. Such a statement is also confirmed by the low volume, which means that one should not expect any sharp moves imminently. In this case, ongoing sideways trading in the area of $0.36-$0.37 is the more likely scenario until the end of the week.
ADA is trading at $0.3674 at press time.
Arman Shirinyan
Dan Burgin
Alex Dovbnya
Vladislav Sopov