The cryptocurrency market is neither bullish nor bearish today as some coins are going up while others keep trading in the red zone.
The rate of Bitcoin (BTC) remains almost unchanged since yesterday, dropping by only 0.06%
Bitcoin (BTC) is coming back to the local support level at $38,546 on the daliy chart. If the daily candle fixes around it or below, there is a chance of seeing a sharp drop to the zone of $36,000-$37,000 shortly. Such a scenario is relevant until the end of the month.
Bitcoin is trading at $39,067 at press time.
Cardano (ADA) is underperforming BTC, going down by 1.10% over the last 24 hours.
Cardano (ADA) is also falling despite the relatively the bullish candle that was recorded yesterday. In case of the further sellers’ pressure, the decline may lead the rate of the altcoin below $0.80 within the next few days.
ADA is trading at $0.8560 at press time.
Binance Coin (BNB) is the biggest loser from the list today, falling by 1.23% since yesterday.
Binance Coin (BNB) is trading similar to Cardano (ADA) as it is also coming back to the yesterday’s low level. The trading volume is high which means that bulls are not ready yet to seize the initiative. In this case, there is a possibility of seeing a further drop to the $360 mark.
BNB is trading at $390 at press time.