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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.
Denys SerhiichukUntil 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
Dan Burgin
Vladislav Sopov