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Bears have become active on the weekend as the majority of the coins are in the red zone.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 1.63% over the last 24 hours.
Despite a slight decline, Bitcoin (BTC) has not renewed the bearish trend as the price remains above the vital $20,000 mark. In addition, the selling volume has declined, confirming the bears' weakness.
Denys SerhiichukIn this case, the more likely scenario is sideways trading between $20,000 and $21,000, so the coin could get more energy for further growth.
Bitcoin is trading at $20,611 at press time.
ETH/USD
Ethereum (ETH) has lost more than Bitcoin (BTC) as the price has dropped by almost 2%.
On the daily chart, Ethereum (ETH) has once again made a false breakout out of the resistance level at $1,281. Thus, the rate is below the $1,200 mark, which means that bears might seize the initiative if buyers cannot restore the lost position. Such a scenario is relevant until the end of the current week.
Ethereum is trading at $1,195 at press time.
XRP/USD
XRP has followed the drop of BTC, losing 1.38% of its price share.
Despite the fall, XRP is looking much better than other coins, as the rate is on the way to testing the $0.3434 level again. This means that bulls might be more powerful than bears as the price has not gone down after a false breakout. Thus, the volume has increased, which is locally a bullish signal. All in all, one can see the rise to the $0.35 mark if buyers can hold the gained initiative.
XRP is trading at $0.3382 at press time.
BNB/USD
The price of Binance Coin (BNB) has gone down by 1.17% over the past 24 hours.
Binance Coin (BNB) has continued a decline after a false breakout out of the $240 mark. However, at the moment, one needs to pay close attention to yesterday's low at $235. If buyers can keep the price above that level, there are chances to see it bounce back shortly.
BNB is trading at $236.4 at press time.
AVAX/USD
Avalanche (AVAX) has suffered the worst decline today, going down by almost 5%.
From the technical point of view, Avalanche (AVAX) is trading similar to BNB as there are chances to see growth after the drop below $20. Bears might seize the initiative only if they get the price back to the $18 mark.
AVAX is trading at $19.13 at press time.
DOT/USD
Polkadot (DOT) is not an exception to the rule, falling by 4% since yesterday.
Polkadot (DOT) has started a correction after a failed attempt to rise above the $7 mark. At the same time, there is a possibility for bulls to seize the initiative until the price is above the $6.50 mark. If that happens, one can expect it to bounce back quickly.
DOT is trading at $6.61 at press time.
Godfrey Benjamin
Alex Dovbnya
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Vladislav Sopov