The weekend has started with a correction in the cryptocurrency market as most coins are in the red.
BTC/USD
Bitcoin (BTC) continued its decline after yesterday’s bearish candle, down 4% in the last 24 hours.
Bitcoin (BTC) has returned to the local downtrend as the price made a false breakout above $23,000. Thus, the price is approaching the support level at $22,400 on the daily chart. If the bears continue to press, expect to test the $22,000 area next week.
Bitcoin is trading at $22,448 at press time.
BNB/USD
Binance Coin (BNB) is the so-called “biggest gainer” as it is down just 1.61% since yesterday.
Binance Coin (BNB) failed to fix the price above the $270 level, which means the native exchange coin has not accumulated enough strength for a further increase. If the buyers fail to take the initiative, the decline into the $250 zone could lead. Such a scenario is relevant until the end of the current month.
BNB is trading at $263.4 at press time.
ADA/USD
Cardano (ADA) has suffered its worst decline today, falling nearly 5%.
Cardano (ADA) resumed decline after false breakout above $0.4921. Although selling volume is light, the bulls have lost initiative after the failed attempt to break into the $0.50 zone. Accordingly, one should watch closely for the $0.45 level where a local reversal is possible.
ADA is trading at $0.4812 at press time.
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