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The weekend began with a sustained correction in the cryptocurrency market.
BTC/USD
The price of Bitcoin (BTC) has hardly changed since yesterday.
BTC’s move today had no impact on the overall technical picture on the daily chart. The price continues to move sideways as neither side has taken the initiative yet. In this regard, sideways trading in the $35,000-$37,000 range is the more likely scenario for the next few days.
At press time, Bitcoin is trading at $36,442.
ETH/USD
Ethereum (ETH) has lost more than BTC, falling 1.18% in the last 24 hours.
From a technical perspective, Ethereum (ETH) looks more bearish than Bitcoin (BTC) as the price approaches the $1,882 support level. If buyers cannot seize the initiative soon, the breakout could soon lead to a rise to the $1,800-$1,850 area.
Ethereum is trading at $1,938 at press time.
BNB/USD
Binance Coin (BNB) followed ETH’s decline and fell by 1%.
On the daily chart, BNB price has bounced off the support level at $238. However, if the price returns to this level, the accumulated energy could be enough for a strong rise to the $230 zone next week.
At press time, BNB is trading at $242.5.
About the author
Denys Serhiichuk
With over five years of trading experience, Denys has extensive knowledge of both technical and fundamental market analysis. Mainly, he started his blog on TradingView where he publishes all relevant information and makes predictions about top coins.
His experience is backed by working in top blockchain-related companies such as W12, Platinum Listing, ATB Coin and others. They can be contacted at [email protected].
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
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