Following a few days of growth, the market has experienced a small correction as a result of some coins trading in the negative territory.
BTC/USD
Bitcoin (BTC) lost yesterday’s gains and dropped by 0.71 percent.
The bullish candle from yesterday has almost completely been absorbed by bears, but anything can happen before the day’s end. Right now, one should keep a close eye on the $19,000 level. There is still a chance of a quick upward movement to the $21,000 region if buyers can hold this level.
As of press time, the price of one bitcoin is $19,420.
ETH/USD
Together with Bitcoin, Ethereum (ETH) lost about 1.75 percent of its value.
Following the erroneous breakout of yesterday’s peak at $1,160, the cost of Ethereum (ETH) has dropped. The high selling volume indicates that bears won’t give up so easily. In this instance, sellers might take advantage of the pressure to drive the price lower if it persists and the daily candle fixes close to the $1,050 level.
At the time of publication, Ethereum is worth $1,081.
XRP/USD
With a 2.91 percent price drop, XRP is currently trailing behind both Bitcoin (BTC) and Ethereum (ETH).
The fact that XRP is weaker than other cryptocurrencies is confirmed by the fact that it is already trading close to yesterday’s low of $0.3139. If buyers fail to hold onto the $0.31 support level, a sharp decline to the $0.305-$0.31 range is likely to occur until the end of the week.
At the time of writing, the price of XRP is $0.31435.
BNB/USD
The coin with the best performance today is Binance Coin (BNB), whose loss accounts for 0.67 percent of the total.
BNB has not updated yesterday’s low despite the current decline, indicating the native exchange coin’s strength against the market correction. Buyers might take advantage of a situation the following day if bears are unable to reach the $220 level before the day’s end and fix below it.
The price of BNB is $224.3 as of this writing.
ADA/USD
Cardano (ADA), which fell by 4%, was unable to demonstrate the same strength as BNB.
Since Cardano (ADA) has not demonstrated any recovery, it appears weaker than the majority of other coins. The altcoin currently has enough strength for another quick move. There is a chance that the support level at $0.4359 will be broken in the coming days if the candle fixes at that price.
SOL/USD
Not an exception to the rule, Solana (SOL) has lost 1.1 percent of its price share since yesterday.
The rate of SOL has fallen back to its previous low due to sellers, which suggests that the coin may not have accumulated enough effort to continue rising. Consequently, the price is far from the $37 resistance level, indicating the bulls’ weakness. The more likely scenario is sideways trading between $33 and $35.
At the time of writing, SOL is trading for $33.52.
AVAX/USD
Additionally declining over the past day by 0.72 percent is Avalanche (AVAX).
Due to the rate’s inability to increase following yesterday’s bullish candle, AVAX is trading similarly to SOL. As a result, the rate is returning to the $14.58 support level, demonstrating the strength of the bears. The mid-term decline might continue if buyers are unable to hold the $16 level.
Currently, AVAX is trading for $16.88.
