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.
After a few days of growth, the cryptocurrency market has entered the correction phase as most coins are in the red zone.
BTC/USD
The rate of Bitcoin (BTC) has gone down by 6% over the last 24 hours.
On the daily chart, Bitcoin (BTC) has continued the drop after yesterday's bearish candle, falling below $23,000. At the moment, the price has bounced off the mirror level of $22,400.
Until the rate is above it, bulls keep controlling the situation on the market. In this case, one can expect a return to the $23,000 mark soon.
Bitcoin is trading at $22,483 at press time.
SOL/USD
Solana (SOL) has lost more than Bitcoin (BTC) with a decline of 9%.
Despite the fall, Solana (SOL) remains bullish as the price has bounced off the support level at $39.72. Thus, the rate has returned above the $40 mark. All in all, if the slight rise continues, a return to the $45 zone is just a matter of time.
SOL is trading at $41.26 at press time.
AVAX/USD
Avalanche (AVAX) has followed the drop of Bitcoin (BTC), losing 6% of its price share since yesterday.
Avalanche (AVAX) is rising after yesterday's decline, which means that the fall was a correction before a further rise. At the moment, one should pay attention to the $25 mark. If the rate can return to it and fix above, there are high chances to see a midterm bull run.
AVAX is trading at $24.06 at press time.
ADA/USD
Cardano (ADA) is the biggest loser from the list today as it has decreased by almost 9%.
Cardano (ADA) is looking worse than other coins as the rate has fixed below the level of $0.4921. Currently, bears are more powerful than bulls, and the test of $0.45 is more likely to see than growth to $0.50. In addition, the selling volume has increased.
ADA is trading at $0.4822 at press time.
MATIC/USD
Unlike other digital assets, MATIC has almost absorbed the recent fall.
MATIC has continued to rise after the false breakout of the $0.80 mark. At the moment, the price is on its way to $0.90, the breakout of which may be a prerequisite for a further upward move to the $1 zone.
MATIC is trading at $0.8769 at press time.
Alex Dovbnya
Gamza Khanzadaev
