Is there a chance to see the continuation of growth on the market?
|Bulls have restored their positions to a certain extent; however, all of the top 10 coins remain in the red zone.
Top coins by CoinMarketCap
BTC/USD
Yesterday, bearish pressure intensified and the price of Bitcoin (BTC) reached the $42,447 level. The pair held above it for the rest of the day, but tonight, the bullish momentum broke through that support and the BTC price set a new monthly low around $40,190.
BTC/USD chart by TradingView
By morning, buyers have restored the price above the $42,447 level, but it is not yet clear whether the pair will be able to stay above it. The Stoch RSI indicator lines on the daily time frame entered the oversold zone, but the signal for recovery has not yet been formed, which means that a decline is possible.
If the bears continue to sell, then one may expect a breakthrough of the psychological mark of $40,000 and renewal of the monthly minimum in the area of $39,840.
Bitcoin is trading at $42,729 at press time.
ETH/USD
Yesterday, the bearish onslaught broke through the psychological level of $3,000 and, tonight, the Ethereum (ETH) price tested the support of $2,800.
ETH/USD chart by TradingView
In the morning, the pair bounced above the level of $3,000, but it can hardly be possible to continue the recovery today. If sellers break through the support at $2,800, then a new September low should be expected around $2,620.
Ethereum is trading at $3,002 at press time.
XRP/USD
The XRP price pierced the $0.90 support yesterday afternoon, setting a monthly low at $0.875. At night, it updated to the level of $0.866.
XRP/USD chart by TradingView
At the moment, the price has recovered from the low zone above the support of $0.90. Buyers may try to continue the recovery this morning, but they have fewer chances to break above the psychological level of $1.
Before the end of the day, the selling pressure may increase and the pair can continue to decline to the support of $0.80.
XRP is trading at $0.9288 at press time.
BNB/USD
The rate of Binance Coin (BNB) is almost unchanged since yesterday.
BNB/USD chart by TradingView
Binance Coin (BNB) has bounced off the support at $342 and is now trying to consolidate above this level. If bulls hold this zone, there is a possibility to come back to the vital area around $400 by the end of the week.
BNB is trading at $367.4 at press time.
ADA/USD
From the technical point of view, Cardano (ADA) is trading similarly to Binance Coin (BNB).
ADA/USD chart by TradingView
Cardano (ADA) remains trading in a wide range where neither bulls nor bears control the situation in the mid-term scenario. Currently, the altcoin is located close to the support at $1.90, the breakout of which may cause a sharp drop to the liquidity zone at $1.324.
ADA is trading at $2.138 at press time.
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