Bears have seized the initiative as most of the top 10 coins are in the red zone. Binance Coin (BNB) is the only exception to the rule, rising by 0.81%.
Top coins by CoinMarketCap
Yesterday, bears pushed through the average price level. Significant sales volumes pushed the Bitcoin price back to the support level of $47,745. Sellers tried to break through this support tonight, but after a local minimum around $47,590, the pair recovered above the 61.8% Fibonacci level.
BTC/USD chart by TradingView
At the moment, pressure from the bears has eased, so one can count on the continuation of the recovery dynamics and a return to the psychological level of $50,000.
Bitcoin is trading at $47,426 at press time.
Yesterday morning, buyers failed to form further bullish momentum, and the Ethereum (ETH) price rolled back below the EMA55 moving average. During the day, the decline continued until the bears pushed the price back below the support of $3,200. In the evening, sellers reached a minimum around $3,145.
ETH/USD chart by TradingView
By the end of the day, there was a weak attempt to recover to the support of $3,200, but the pair is still struggling to hold at this level in a narrow consolidation. If bearish pressure resumes, a pullback to the area of $3,075 is possible.
Ethereum is trading at $3,113 at press time.
Cardano (ADA) is the second loser from today's list, falling by 3.45% over the past 24 hours.
ADA/USD chart by TradingView
On the daily chart, Cardano (ADA) has once again touched the support at $2.58. Until it is located above it, bulls keep controlling the situation on the market.
Once sellers break it and fix below, a sharp fall may occur that can lead the rate of ADA to the mark of $2.40.
ADA is trading at $2.64 at press time.
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