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The bulls could not keep the rise going after yesterday's bounceback, and all of the top 10 coins are in the red zone again.
BTC/USD
Yesterday afternoon, buyers were able to restore the price of Bitcoin (BTC) to the level of $38,950. At the end of the day, the fuse of the bulls dried up, and the bears immediately returned the pair below the level of the two-hour EMA55.
Tonight, the BTC price decline continued below the support of $36,000. During the day, the pair may sink to the $34,400 mark.
Denys SerhiichukIf the pressure of the bears does not weaken at this level, then in the second half of this week, the price can test the support of $32,500.
Bitcoin is trading at $37,036 at press time.
ETH/USD
Yesterday, the price of Ethereum (ETH) recovered to the $2,700 mark. The daily high is fixed at $2,725. Late in the evening, selling volumes began to pick up, and the bears pushed the price below the two-hour EMA55.
This morning, the pair rolled back to the area of $2,450, and if buyers fail to stop the price from sliding below the level of $2,300, then by the end of the week, one can see an update of the January low around the psychological level of $2,000.
Ethereum is trading at $2,514 at press time.
XRP/USD
Despite yesterday's daily high at $0.66, the price of XRP has not been able to gain a foothold above the two-hour EMA55. By the end of the day, the sellers returned the price to the support of $0.60, and at night, the bears pushed the pair even lower.
As of this morning, the price of XRP has tested the level of $0.59.
If the bulls fail to seize the initiative in this area for further recovery to the resistance of $0.70, then the pair may reach the support of 0.50 USD before the upcoming weekend.
XRP is trading at $0.6146 at press time.
BNB/USD
Binance Coin (BNB) has followed the decline of Bitcoin (BTC), falling by 4.83% since yesterday.
After Binance Coin (BNB) has bounced off the support at $336, it keeps trading sideways, slightly approaching the zone of the most liquidity around $400. If bulls can get to this mark and fix above it, there are chances to see a bullish trend reversal. Such a scenario is relevant until mid-February.
BNB is trading at $375.4 at press time.
ADA/USD
Cardano (ADA) has lost less than BNB with a fall of $3.82.
Cardano (ADA) has come back to the zone above $1, which is good for bulls. If buyers can hold this mark and the trading volume increases, the current accumulation may be a prerequisite for further growth to the zone of the most liquidity around $1.30.
ADA is trading at $1.058 at press time.
Tomiwabold Olajide
Dan Burgin
U.Today Editorial Team
Vladislav Sopov