Buyers have lost their initiative as all of the top 10 coins are in the red zone.
Yesterday during the day, the buyers tried for a long time to break through the resistance around $44,000. In the evening, a weak bullish momentum was able to cross this level, but the bears reacted with large volumes of selling, and at the end of the day, the price of Bitcoin (BTC) returned below the EMA55 two hours.
The $42,447 level might prevent the pair from pulling back deep. This morning the couple was in a rather narrow side hallway. If today the buyers can get back to the $44,000 resistance, then by the end of the week the bulls could continue their attempts to reach the $46,000 target level.
If the bears break through the support, the pullback may continue to the $41,700 level.
Bitcoin is trading at $42,483 at press time.
Binance Coin (BNB) rate is down nearly 2% since yesterday.
Binance Coin (BNB) made a false break of the mirror level at $489, after confirming bull weakness. If the buyers cannot break through this resistance and settle above, there is a good chance of seeing a move back towards the area below $450 shortly.
Thus, the volume of sales transactions has increased. Such a scenario is relevant until the end of January.
BNB is trading at $475.4 at press time.
Cardano (ADA) followed BNB, down 2.78% in the past 24 hours.
Despite the ongoing fall, Cardano (ADA) is trading above the support at $1.072. However, the volume of sell trades tends to increase, which means that the bears are more powerful than the bulls at the moment. If the situation does not change, we can expect a retest of the support level soon.
ADA is trading at $1.264 at press time.