The cryptocurrency market is facing a correction today as most of the coins are in the red zone.
BTC / USD
Yesterday, the price of Bitcoin (BTC) was unable to overcome the two-hour EMA55 resistance and again returned to the $ 46,000 support.
Price tested the area of December lows tonight, but remained above $ 46,000 in the morning.
The strengthening of the bearish assault and the breakout of the support could lead to the implementation of our negative scenario, in which the price of Bitcoin may return to the level of $ 42,447.
Bitcoin is trading at $ 46,891 at the time of publication.
ETH / USD
Ethereum (ETH) is the biggest winner today with growth of 0.31%.
Ethereum (ETH) successfully rebounded to the support at $ 3,670 on the daily chart. However, despite the continued growth, the rise is not supported by a high trading volume, which means traders may not have built up enough energy for a sharp move.
In this case, if the bulls can hold onto the acquired initiative, one can expect a smooth price rise to the $ 4000 mark.
Ethereum is trading at $ 3,851 at time of publication.
ADA / USD
Cardano (ADA) is the biggest loser on the list with a 2% drop in the past 24 hours.
Cardano (ADA) is still located in a wide channel despite today’s price drop. However, the volume of buying trade appears likely to increase, which would be a prerequisite for a possible upward movement. If such a situation arises, there is a strong possibility that you will see the ADA around the purple resistance at $ 1.479 by the end of the week.
ADA is trading at $ 1.342 at time of publication.