Buyers are trying to seize the initiative as some coins are back in the green zone.
BTC/USD
Despite the decline at the start of the day, Bitcoin (BTC) has managed to recover with a rise of 1.82%.
On the daily chart, bitcoin (BTC) continues to trade within a wide channel between support at $39,573 and resistance at $45,478. At the moment, neither the bulls nor the bears dominate, which is also confirmed by the low trading volume.
If buyers can reach $43,000 and fix it, there is a good chance of seeing a slight increase to $45,000.
Bitcoin is trading at $42,342 at press time.
ETH/USD
Ethereum (ETH) is up less than Bitcoin (BTC) as the main altcoin price is up 0.32%.
As long as Ethereum (ETH) is trading above the $2,987 support level, there is nothing to worry about, even if the selling volume has increased. However, if the price of the second most popular crypto falls below $3,000 and corrects there, the bears may seize the initiative and continue declining in the $2,800-$2,900 area.
Ethereum is trading at $3,134 at press time.
ADA/USD
Cardano (ADA) is the biggest loser today as its rate is down 3% from yesterday.
Despite the downside, the medium-term picture is neither bullish nor bearish as the price trades above the $1.4 mark. Thus, the decline is accompanied by an increase in selling volume, which means that traders may have settled their short positions.
If such a scenario turns out to be true, the area is likely to see a rally near $1.5 soon.
ADA is trading at $1.411 at press time.