The weekend is here, and the markets still maintain a bearish attitude as all cryptocurrencies ranking top ten are in the red area.
You can hardly predict what the market will have the next moment with the high volatility in the crypto space for now. For that reason, do not use the following information as investment advice. We will analyze what the crypto market has for now and where the market waves might head next.
BTC/USD
It seems like Bitcoin is having a challenging time after a slight 6% decline.
However, with the decline, the BTC market indicates a bullish trend, bouncing off the $34,000 support. The reduced selling volume means buyers might try to push the resistance level to $42,100. You can expect such price action in the coming week.
While publishing this article, Bitcoin is valuing $38,340.
ETH/USD
Ethereum is another top crypto approaching the weekend as it declines in value. The asset has dropped by 9%.
Analysts predict that ETH might act like BTC, where the price drop translates to a correction, resulting in future growth. The Ethereum market is witnessing a decreased selling volume at the moment. That means the market might achieve a bullish attitude soon. For now, bulls have the chances to drive ETH to its $3,000 level shortly.
Also read:When writing this, ETH values $2,423.
BNB/USD
Binance Coin dropped by 13% over the last day.
For now, the Binance market indicates that bulls might overpower the bearish market trend. Furthermore, the decreasing selling volume strengthens buyer potential. If the market can maintain a bullish attitude, BNB can achieve the over $300 trading area. With that, the asset might accomplish the $480 trading level in the coming week. Binance coin trades at $327 at the time of this writing.
ADA/USD
Cardano has tried to remain strong compared to the likes of the Binance coin. The asset has decreased by 6% since yesterday. ADA indicates a bounceback regardless of the decreased prices. Though, the Cardano network has a low trading volume for now. Technically, the virtual coin might rise to reach the $1.66 resistance level. When publishing this, ADA trades at $1.601.
Most top cryptocurrencies are in the red area as we enter the weekend. What do you think about that market attitude?
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