Price Analysis: BTC, ADA, BNB, AVAX, LUNA

The cryptocurrency market is declining following its recent surge, with the bulk of coins trading in the red zone.

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BTC/USD

Bitcoin (BTC) is experiencing a minor correction, falling 2.46 percent in the last 24 hours.

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Despite bulls’ attempts to break through the resistance around $45,478, the price continues to decline, dipping below the $44,000 level. If buyers do not seize the initiative by the end of the day, there is a risk that the main crypto may trade near $42,000 in the near future.

Bitcoin is trading at $43,245 at press time.

ADA/USD

Cardano (ADA) has suffered a worse loss than Bitcoin (BTC), as its price has fallen by more than 4%.

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Cardano (ADA) is also looking worse than Bitcoin (BTC) from a technical standpoint, as the price continues to fall following the false breakthrough of the barrier at $1.

The price is currently trading in the middle of the channel, between the $0.81 support and the previously indicated resistance. However, if purchasers are unable to keep the rate above $0.90, the rate may continue to decline below the $0.85 zone.

ADA is trading at $0.914 at press time.

BNB/USD

Binance Coin’s (BNB) price has remained nearly steady since yesterday, with the fall accounting for barely 0.45 percent.

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Binance Coin (BNB) is neither bullish nor bearish, since neither side has amassed sufficient power to make a decisive move. However, if the bears maintain their onslaught, the rate of the native exchange coin may fall below the critical $400 barrier.

BNB is trading at $405.8 at press time.

AVAX/USD

Avalanche (AVAX) is the list’s biggest loss today, with its price falling 6.15 percent in the last 24 hours.

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Avalanche (AVAX) continues to exhibit weakness following a failed attempt to break above the $90 level. There are now no optimistic signals, implying that the decline may extend to the newly formed support level around $64.45 through the end of the week.

AVAX is trading at $78.43 at press time.

LUNA/USD

LUNA is also not an outlier, with an almost 3% decline.

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Despite its recent surge, LUNA has been unable to break through the $100 barrier thus far. If today’s daily candle closes below $90, the price may shortly find support under $86.

LUNA is trading at $91.68 at press time.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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