Bitcoin (BTC) has dropped in value by 6% in the last day.
Bitcoin (BTC) has entered the bearish zone following the breach of the $40k support level. The selling trade volume is still significant, implying that the decline may continue.
In this event, the price drop may push the main cryptocurrency to the next support level at $34,000.
At the time of writing, Bitcoin was trading at $39,043 USD.
Cardano (ADA) has lost less than Bitcoin (BTC) due to a 2.95 percent price drop.
On the daily chart, Cardano (ADA) is still trading above the $0.81 support level, indicating that bulls continue to dominate the market.
However, if the pressure persists and a breakthrough happens, the slide might reach $0.70 next week.
At the time of writing, ADA was trading at $0.86.
Binance Coin (BNB) has fallen 4.23 percent in response to the dip in BTC.
From a technical standpoint, the rate is in the centre of a broad channel that runs between the support at $336 and the resistance at $443. Bears will continue to outnumber bulls until the price falls below the crucial $400 level. In this instance, there is a good chance that the $336 level will be tested soon.
At the time of writing, BNB was trading at $379.
Today’s largest loss on our list is LUNA, which has down 7.53 percent.
Currently, the price is less than $86, indicating that sellers have the upper hand over purchasers. If nothing changes and bulls fail to reclaim the initiative, there is a potential that the price will continue to fall below the critical $80 level. This scenario is valid till the end of the coming week.
At the time of writing, LUNA was trading at $83.73.
Solana (SOL) is no exception, with a 4.77 percent decline.
Solana (SOL) remains feeble, unable to re-enter the zone around $100. It is currently reaching the $75 support level. If the daily candle closes below it, a strong decline to the $50-$60 range is likely.
At the time of writing, SOL was trading at $88.49.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.