A slight correction has arrived on the cryptocurrency market as most of the top 10 coins are in the red zone. Theta is the only one trading in the green.
Top 10 coins by CoinMarketCap
BTC/USD
Sellers broke the support of the upward trendline last night. Bearish pressure increased, and the pair marked a local minimum at $53,715.
BTC/USD chart by TradingView
On the 2H chart, Bitcoin (BTC) is about to retest the resistance at $57,500.
Bulls still have a chance to keep the rise if they fix above the aforementioned zone. Moreover, the selling trading volume keeps declining.
Bitcoin is trading at $55,000 at press time.
ETH/USD
Yesterday, the Ethereum (ETH) price consolidated for a long time around the POC line ($1,800). Late in the evening, bears broke through the lower border of the two-week side channel and tested the support at $1,680.
ETH/USD chart by TradingView
The price bounced overnight, but buyers were unable to bring the pair back into the wide sideways range. If the bears intensify the onslaught, the price may reach the support of $1,600.
Ethereum is trading at $1,705 at press time.
XRP/USD
At the end of last week, the XRP price consolidated above the psychological level of $0.50. Yesterday, the pair continued to rise to the $0.60 area. After a long lull in the XRP market, there is now some recovery in trading and a surge in volatility for the pair.
XRP/USD chart by TradingView
Buyers were unable to break through the $0.60 resistance yesterday, and their attempt was unsuccessful tonight. It is possible that, in the near future, the price of XRP will roll back to the four-hour EMA55, which is now taking place in the area of $0.50.
XRP is trading at $0.5752 at press time.
BNB/USD
Binance Coin (BNB) could not keep the growth yesterday and, as a result, the rate dropped by 2.56%.
BNB/USD chart by TradingView
On the daily chart, almost nothing has changed since yesterday as Binance Coin (BNB) keeps trading in a sideways channel. However, a rise is more likely than a drop as the selling volume is getting lower. Thus, the volatility is also low, which means that a price blast to the nearest resistance at $296 may happen soon.
Binance Coin is trading at $260 at press time.
ADA/USD
Despite the 2.50% fall, Cardano (ADA) keeps trading in the rising channel on the daily time frame.
ADA/USD chart by TradingView
Cardano (ADA) is located above the MA 50 after yesterday's dump, which means that buyers are more powerful than sellers. At the moment, it is too early to consider setting new peaks as bulls need to overcome the closest resistance of $1.34.
Cardano is trading at $1.16 at press time.
Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.
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