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.
At the beginning of the week, the cryptocurrency market is not ready to grow or fall, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
BTC/USD
The price of Bitcoin (BTC) has risen by 0.25% over the last 24 hours.
Image by TradingView
Despite today's slight rise, the rate of BTC remains under sellers' pressure as buyers could return the price above the $26,000 mark. In this case, the ongoing drop to the support at $25,212 is the more likely scenario for the following week.
Bitcoin is trading at $25,825 at press time.
ETH/USD
Unlike Bitcoin (BTC), the rate of Ethereum (ETH) has declined by 0.37%.
Image by TradingView
On the daily time frame, the rate of ETH is about to close below the support level at $1,737. If that happens, the midterm bearish trend can likely lead to a drop to the zone of $1,600. Such a scenario is relevant within the next few days.
Ethereum is trading at $1,733 at press time.
XRP/USD
XRP has outperformed Bitcoin (BTC) and Ethereum (ETH), going up by 1.72%.
Image by TradingView
Today's growth has not affected the overall technical position of XRP. Sideways trading remains the more likely scenario for the next few days as the altcoin has not accumulated enough energy for a further move.
Denys SerhiichukAt the moment, the nearest mark that traders should pay attention to is $0.54, the breakout of which may lead to a price blast to the $0.56 zone.
XRP is trading at $0.5133 at press time.
BNB/USD
The price of Binance coin (BNB) has fallen by 1.59% since yesterday.
Image by TradingView
From the technical point of view, the rate of Binance Coin (BNB) has made a false breakout of the recently formed support level at $228.4. At the moment, one should pay attention to the bar closure. If it occurs near the bottom level, the drop will continue to $220.
BNB is trading at $231.4 at press time.
ADA/USD
Cardano is the biggest gainer today, rocketing by 5.24%.
Image by TradingView
Despite today's sharp rise, the rate of Cardano (ADA) is far from key levels, which means that the coin needs more time to accumulate strength for a further move. However, if the upward move continues to $0.29, it might be a prerequisite for a possible test of $0.30 soon.
ADA is trading at $0.2785 at press time.
SOL/USD
The price of Solana (SOL) has fallen by 0.49% over the last 24 hours.
Image by TradingView
Despite a recent sharp drop, the price of SOL has not found a reversal zone yet as today's candle is about to close below the previous one. If that happens, there is a high possibility of seeing an ongoing correction to $14 this week.
SOL is trading at $15.21 at press time.
MATIC/USD
MATIC has followed the bounce back of Cardano (ADA), rising by 3.22%.
Image by TradingView
The price of MATIC is trading within yesterday's bar, which means that neither bulls nor bears are dominating today. In this case, ongoing consolidation in the narrow range of $0.60-$0.65 is the more likely scenario for the next few days.
MATIC is trading at $0.6417 at press time.
Godfrey Benjamin
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov