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.
The weekend has begun with the bounceback of the cryptocurrency market as the majority of the top 10 coins are in the green zone. The only exception to the rule is DOGE, whose rate has gone down by 0.18%.
BTC/USD
Last Saturday, buyers were unable to gain a foothold above the average price level, and the pair rolled back to the support of $36,000. On Sunday, the weak seller's onslaught continued until the Bitcoin (BTC) price broke through this support, setting a weekly low around $34,850.
At the end of the week, buyers tried to restore the price and gain a foothold above the lilac support of $36,000. The volume of purchases was small, but tonight the pair recovered to the area of average prices.
At the beginning of the week, one should expect an intensification of the bearish onslaught and a pullback of the Bitcoin (BTC) price to the area of psychological support at $30,000.
Bitcoin is trading at $36,380 at press time.
ETH/USD
On Saturday, buyers failed to form a bullish momentum, and the resistance of $2,800 turned the pair downward. The sales volumes were not large and, in the zone of the weekly low, the pullback was stopped by the support of $2,550.
On Sunday, buyers recovered the Ethereum (ETH) price, and this morning, the pair again stopped at the resistance line of $2,800. There is little hope of a false bullish breakout, but bears are likely to intensify the onslaught and break through last week's low. At the beginning of the week, the minimum is possible in the support area of $2,200.
Ethereum is trading at $2,823 at press time.
XRP/USD
Last Saturday, the XRP price failed to test the psychological $1 mark. On the way to this key level, the price reversed downward.
Despite the dynamic pullback, the minimum was set at $0.892. Over the next day, buyers restored the pair to the area of average prices. At the same time, it has not yet been possible to overcome the three-hour EMA55. Today there is a high probability of a reversal in the area of the moving average and a pullback to the target bearish level of $0.80.
XRP is trading at $0.9673 at press time.
ADA/USD
The rate of Cardano (ADA) has increased by 3.15% over the last 24 hours.
Despite the growth, the rise of Cardano (ADA) may not have ended yet. After a false breakout of the resistance at the $1.84 mark, the price is not going down, which means that buyers are more powerful than sellers. In this case, there is a high chance of seeing a retest of the level around $1.80 soon.
ADA is trading at $1.7343 at press time.
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.
Alex Dovbnya
Dan Burgin
Vladislav Sopov