After the sharp rally, the bulls continue to control the market situation even though some coins have returned to the red zone.
BTC/USD
The Bitcoin (BTC) rate is down about 1% since yesterday.
After rising to $40,000, Bitcoin (BTC) falsely broke out of resistance at $39,573, which means that the bulls are unwilling to continue the growth.
If sellers pressure continues today, a correction towards the $38,000 area is likely to be witnessed by the end of the week.
At press time, bitcoin is trading at $39,183.
ETH/USD
Unlike Bitcoin (BTC), Ethereum (ETH) is up 2.14% in the past 24 hours.
Despite the rise, Ethereum (ETH) is trading in a similar fashion to BTC as the main altcoin also made a false breakout of the resistance at $2,815.
If buyers can’t fix it soon, the bears may forfeit the initiative and return the $2,600 rate soon.
Ethereum is trading at $2,768 at press time.
XRP/USD
XRP is the biggest gainer today as its rate is up by over 5%.
XRP is showing better price performance than other coins; However, it could not reach the crucial level of $0.80. In this case, a more likely scenario is a test of the mirror level at $0.7462 followed by a bounceback.
At press time, XRP is trading at $0.7594.
ADA/USD
cardano[एडीए]Also rising, has risen 2% since yesterday.
Cardano (ADA) is following the scenario of other coins, after a false breakout of resistance at $0.917. As long as the daily candle is not below it, the bears remain more powerful than the bubbles. Respectively, a decline could lead the price of ADA to $0.85.
ADA is trading at $0.897 at press time.
bnb/usd
Binance Coin (BNB) is no exception to the rule with a growth of 1.21%.
Binance Coin (BNB) could face a brief correction towards the $360 mark if buyers fail to clear the resistance at $385. Such a scenario is relevant till the end of the week.
As of press time, BNB is trading at $374.3.