Has the market correction come to an end?
|The last day of the week has turned out to be bullish for the cryptocurrency market as most of the coins are in the green zone.
Top coins by CoinMarketCap
BTC/USD
Despite sharp price fluctuations, the rate of Bitcoin (BTC) has risen by 2.09% over the last week.
BTC/USD chart by TradingView
Bitcoin (BTC) is located in the middle of a wide channel after a false breakout of the resistance level at $45,478. The selling trading volume is going down, which means that bears are running out of power.
If buyers use this chance and return the rate to $44,000, the growth may continue to $46,000 next week.
Bitcoin is trading at $42,465 at press time.
ETH/USD
Ethereum (ETH) could not follow BTC, and the rate of the main altcoin has declined by 2% over the past seven days.
ETH/USD chart by TradingView
After the failure to fix above the vital mark of $3,000, the rate of Ethereum (ETH) has come back to the blue support level at $2,815 on the daily chart.
If the bears' pressure continues and the price goes below it, the fall may lead ETH to the zone of $2,600-$2,700 shortly.
Ethereum is trading at $2,947 at press time.
XRP/USD
XRP is the top gainer today as its rate has rocketed by 24.74% over the last week.
XRP/USD chart by TradingView
Despite the sharp growth, XRP keeps showing power against the declining trading volume. At the moment, the rate is located close to the resistance level at $0.9150, the breakout of which may be a prerequisite for the mid-term rise to the $1 mark.
XRP is trading at $0.8323 at press time.
ADA/USD
The rate of Cardano (ADA) is almost unchanged since yesterday with growth of only 0.48%.
ADA/USD chart by TradingView
From the technical point of view, Cardano (ADA) is neither bullish nor bearish as the rate is located in the middle of the channel between the support at $0.917 and the resistance at $1.209. In this regard, ongoing sideways trading is the more likely scenario in the upcoming days.
ADA is trading at $1.066 at press time.
SOL/USD
Unlike XRP, Solana (SOL) is the biggest loser today as the price has gone down by almost 16% since the beginning of the week.
SOL/USD chart by TradingView
Bears remain more powerful than bulls as the price could not fix in the zone of $100. Likewise, the approach to the support level at $87.73 may generate its breakout and a sharp drop to $80.
SOL is trading at $96.39 at press time.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.