Which altcoins can be the most powerful on the bearish market?
|Bulls are not showing any efforts to buy back the coins, and most of the assets are in the red zone.
Top coins by CoinMarketCap
BTC/USD
The main crypto has gone down by 3% over the past day.
BTC/USD chart by TradingView
On the daily chart, Bitcoin (BTC) has broken the vital $30,000 level. The selling volume is high, which means that bears may have accumulated enough power in the sideways trend for a continued drop.
At the moment, the more likely scenario is a retest of the $31,000 mark, followed by a decrease to around $24,000.
Bitcoin is trading at $39,750 at press time.
ADA/USD
Cardano (ADA) is the biggest loser from today's list, going down by 8.27% since yesterday.
ADA/USD chart by Trading View
Cardano (ADA) made a false breakout of the $1.20 mark where most of the liquidity is focused. The selling trading volume is also high, which means that bears are controlling the situation at the moment. In this case, there are high chances of an ongoing decline to $0.917.
ADA is trading at $1.03 at press time.
XLM/USD
Stellar (XLM) is not an exception to the rule, declining by almost 7%.
XLM/USD chart by Trading View
Stellar (XLM) is trading near the last support before a potential sharp decline happens. There is little chance that the $0.19 level will off a drop. If a price decrease occurs, the closest area at which bulls may seize the initiative is the zone of the most liquidity around $0.1751.
XLM is trading at $0.20 at press time.
BNB/USD
Binance Coin (BNB) has shown a 6.84% decline since yesterday.
BNB/USD chart by TradingView
The ongoing fall of the native exchange coin may be stopped when it drops to the level of $225. Now, sellers are leaving bulls no chance, and a price decrease remains the main scenario for Binance Coin (BNB). In addition, the selling trading volume is high, which makes the position of bears even stronger.
BNB is trading at $260 at press time.
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