After a few days of growth, the cryptocurrency market has entered the correction phase as most of the coins are in the red.
BTC/USD
Bitcoin (BTC) price is down 6% in the last 24 hours.
On the daily chart, Bitcoin (BTC) continued the decline after yesterday’s bearish candle and slipped below $23,000. Right now, the price has bounced off the $22,400 mirror level.
Until the price is above it, bulls continue to control the situation in the market. If so, a return to $23,000 should be expected soon.
Bitcoin is trading at $22,483 at press time.
SOL/USD
Solana (SOL) is down more than Bitcoin (BTC), down 9%.
Despite the decline, Solana (SOL) remains bullish as the price bounced off the $39.72 support level. The price has thus returned above the $40 mark. All in all, a return to the $45 zone is only a matter of time if the slight increase continues.
SOL is trading at $41.26 at press time.
AVAX/USD
Avalanche (AVAX) has followed Bitcoin’s (BTC) decline, losing 6% of its share price since yesterday.
Avalanche (AVAX) is rising after yesterday’s decline, meaning the decline was a correction ahead of another rise. Watch out for the $25 mark right now. If price can return to it and fix above it, there is a high possibility of a medium-term bull run.
AVAX is trading at $24.06 at press time.
ADA/USD
Cardano (ADA) is the biggest loser on the list today as it is down nearly 9%.
Cardano (ADA) is looking worse than other coins as price has settled below the $0.4921 level. Currently, bears are more powerful than bulls and the test of $0.45 is more likely than a growth to $0.50. In addition, the sales volume has increased.
ADA is trading at $0.4822 at press time.
MATIC/USD
Unlike other digital assets, MATIC has almost absorbed the recent decline.
MATIC continued higher after the false breakout above $0.80. The price is currently on the way towards $0.90, the breakout of which could be a prerequisite for a further upward movement into the $1 zone.
MATIC is trading at $0.8769 at press time.
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