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The weekend has begun with the ongoing correction of the cryptocurrency market.
Top coins by CoinMarketCap
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.52% over the last 24 hours.
Image by TradingView
On the daily chart, the rate of Bitcoin (BTC) has failed to fix above the interim level of $26,500. If the situation does not change by the end of the day, one can expect an ongoing correction to the $26,000 area. Thus, the selling volume has declined, which confirms buyers' weakness.
Bitcoin is trading at $26,382 at press time.
ETH/USD
Ethereum (ETH) has lost more than Bitcoin (BTC), going down by 1.18%.
Image by TradingView
From the technical point of view, Ethereum (ETH) is looking worse than Bitcoin (BTC) as the price is coming back to the area of $1,700. If today's candle closes around that mark, bears might locally seize the initiative, which can lead to a decline to $1,680. Such a scenario is relevant until the end of the week.
Ethereum is trading at $1,718 at press time.
XRP/USD
XRP is not an exception to the rule, declining by 0.78%.
Image by TradingView
Today's decrease has not affected the general technical position of XRP on the daily time frame. Currently, traders should focus on the zone of $0.50. If the bar closes near it with no long wicks, the accumulated energy might be enough for a move to $0.52.
XRP is trading at $0.4870 at press time.
SOL/USD
The price of Solana (SOL) has dropped by 1.56% since yesterday.
Image by TradingView
The rate of SOL is trading within yesterday's candle, which means that neither bulls nor bears are dominating at the moment. A further upward move is possible only if the rate returns to the $16 zone and fixes above it. Only in that case, one can expect a rise to $17.
SOL is trading at $15.50 at press time.
LTC/USD
Litecoin (LTC) has joined the list of other falling coins, declining by 1.34%.
Image by TradingView
Bears are trying to seize the inititaive on the daily chart, as the price is returning to the $76 area. If nothing changes, the ongoing decrease may continue to the $74-$75 range until the end of the month.
LTC is trading at $76.57 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team