Can the majority of coins bounce back by the end of the month?
|The market is neither bearish nor bullish today as some coins keep going down while others are forming reversal patterns.
Top coins by CoinMarketCap
BTC/USD
Bitcoin (BTC) is slightly rising, going up by less than 1% over the last 24 hours.
BTC/USD chart by TradingView
Even though yesterday's candle closes below the $29,000 mark, bulls are trying to return the rate to the previous levels. If they manage to do that and return the price to the zone of $29,500-$30,000, the correction may continue to the area of $31,000 until the end of the week.
Bitcoin is trading at $29.615 at press time.
XRP/USD
XRP could not follow the rise of Bitcoin (BTC), going down by 1.17% over the last day.
XRP/USD chart by TradingView
XRP has bounced off the $0.40 mark, which means that buyers are ready to fight for this level. If the trading volume increases and the correction continues close to the $0.45 mark, there are chances to see the trend change within the next few days.
XRP is trading at $0.4125 at press time.
BNB/USD
Binance Coin (BNB) is the biggest gainer from the list today as the native exchange coin has risen by 2.13%.
BNB/USD chart by TradingView
Binance Coin (BNB) is again trading above the psychological $300 level against the declining trading volume. Currently, one needs to pay close attention to the daily closure. If buyers can keep the price near $300, the test of the resistance at $336 might happen shortly.
BNB is trading at $299.8 at press time.
ADA/USD
Unlike Binance Coin (BNB), the rate of Cardano (ADA) is declining by 1.66%.
ADA/USD chart by Trading View
Cardano (ADA) is trying to hold the $0.50 mark, which is vital for bulls. However, if sellers' pressure continues and the decrease continues, the area around $0.45 can by attained by bears soon.
ADA is trading at $0.5182 at press time.
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