Bears have seized the initiative by the end of the week as all of the coins from the top 10 list are in the red zone.
BTC/USD
The rate of Bitcoin (BTC) has gone down by 4.21% since yesterday.
On the daily chart, Bitcoin (BTC) has formed resistance at around $40,700 against the high trading volume. If yesterday, the situation was bullish, today, the situation has changed completely as bears have almost absorbed the recent growth.
In this case, the more likely price action is sideways trading in the range of $41,000-$44,500.
Bitcoin is trading at $42,225 at press time.
XRP/USD
XRP has shown even worse price dynamics than Bitcoin (BTC), with a fall of 5.87%.
XRP made a false breakout of the mirror level at $1.01488 on the daily chart.
However, the altcoin remains trading in the long zone as it is located above $0.8577. If sellers break it, bears might seize the initiative and get XRP to the next support at $0.80.
XRP is trading at $0.92 at press time.
DOGE/USD
DOGE is the biggest loser from the list today with a fall of 6.39%.
After a false breakout of the support level at $0.199, buyers seem unable to keep the growth as the price is coming back to the zone. In this case, if bears manage to close the daily candle below this mark, there may be a sharp fall to $0.165 soon.
DOGE is trading at $0.20 at press time.
Tomiwabold Olajide
Gamza Khanzadaev
Godfrey Benjamin