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.
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.
Gamza Khanzadaev
Tomiwabold Olajide
Yuri Molchan
