The cryptocurrency market is declining following its recent surge, with the bulk of coins trading in the red zone.
BTC/USD
Bitcoin (BTC) is experiencing a minor correction, falling 2.46 percent in the last 24 hours.
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%.
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.
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.
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.
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.
