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The cryptocurrency market remains under bearish influence as the majority of the top 10 coins are in the red zone.
BTC/USD
Saturday started with the continued fall as the price of the chief crypto has gone down by 4.79% over the last day.
From the technical point of view, Bitcoin (BTC) is located in the sideways trend with neither bearish, nor bullish signals. In the short-term scenario, one can expect a slight rise to the zone of the highest liquidity around $37,000.
Thus, the selling trading volume has declined, which means that bulls might seize the initiative.
Bitcoin is trading at $35,656 at press-time.
ETH/USD
Ethereum (ETH) is less bearish than Bitcoin (BTC) as the price of the main altcoin has declined by 2.87%.
According to the technical analysis, the ongoing fall is more likely than a bounce back as bulls did not react after a false breakout of the $2,300 level. In this case, there is a high chance to expect a retest of the support at $2,040 soon.
Ethereum is trading at $2,221 at press-time.
XRP/USD
The XRP price has gone down by almost 5% since yesterday.
XRP is as bearish as Ethereum (ETH) and there is a high possibility to see a test of the support at $0.75 if bulls cannot seize the iniaitive now. The $0.75 level is at the close retest, which means that its breakout can prolong the decline to another level at $0.65.
XRP is trading at $0.7869 at press-time.
BNB/USD
Binance Coin (BNB) is not an exception from the rule, falling by 3% over the last day.
Binance Coin (BNB) has successfully bounced off the support at $322, having confirmed the bulls' strength. The selling trading volume has slightly gone down. This means that buyers can come back to the resistance at around $400 shortly if they keep trading above the support.
BNB is sitting at $338 at press-time.
ADA/USD
The price of Cardano (ADA) has lost 3% since yesterday, however, over the past week the price has been 0.96% up.
Cardano (ADA) has bounced back from the support at $1.44, supported by a low trading volume. At the moment, buyers can keep pushing the price higher to the nearest resistance at $1.45. However, if they lose the iniaitive, sellers might make a breakout of the support at push the price below $1.4.
ADA is trading at $1.41 at press-time.
XLM/USD
Stellar (XLM) has lost the least of all today as its price has gone down by only 3%.
Stellar (XLM) has almost touched the support at $0.27 and bounced off. This means that buyers might have seized the initiative. Respectively, there is a high probability to see the ongoing rise to the zone of the highest liquidity around $0.39 next week.
XLM is trading at $0.30 at press-time.
Godfrey Benjamin
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov