The correction has continued on the cryptocurrency market as all of the top 10 coins remain in the red zone.

Chart

Top 10 coins by CoinMarketCap

BTC/USD

Yesterday, buyers were unable to gain a foothold above the two-hour EMA55, and the Bitcoin (BTC) price continued to decline. Late in the evening, bears broke through the support of $53,400 and, at the end of the day, the pair rolled back to the level of $51,600.

Chart

BTC/USD chart by TradingView

Selling pressure eased tonight, and by morning, the price consolidated in a narrow range in the support area of ​​$51,600. If buyers are able to seize the initiative, they will try to restore the pair to the level of $53,400. However, it will not be possible to gain a foothold above this level in small volumes.

In the event that the bearish onslaught strengthens, there is a danger of a breakout of the psychological level of $50,000 and a pullback to the area of $​​49,500.

Bitcoin is trading at $50,780 at press time.

ETH/USD

Yesterday in the first half of the day, buyers took advantage of the support at $1,660 and tried to restore the pair to a wide two-week corridor. However, the Ether price failed to break through the lower blue border of the sideways range. The two-hour EMA55, which was at that moment right on the border of the corridor, turned the pair down, and by the end of the day the Ethereum (ETH) price reached $1,600.

Chart

ETH/USD chart by TradingView

Sales volumes decreased overnight, but the price continued to decline until it marked a local minimum at $1,520. As of this morning, the pair is trying to gain a foothold in the area of ​​$1,600 USD. However, most likely by the end of the day, the price of ETH may fall back to the support of $1,500.

Ethereum is trading at $1,592 at press time.

XRP/USD

Yesterday, buyers were unable to increase their purchases. In the afternoon, the price of the asset began to decline. Late in the evening, selling pressure increased sharply and the bearish momentum broke through the psychological level of $0.50, setting a local minimum near the upper border of the channel ($0.450).

XRPUSD

XRP/USD chart by TradingView

The XRP price has rebounded, but whether it will be able to recover today to at least the coveted $0.50 is unclear. On the daily timeframe, the Stoch RSI indicates a continued decline. The price may roll back to the lower border of a narrow sideways range ($0.430).

XRP is trading at $0.4921 at press time.

Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Cryptos enter buy zone

Bitcoin price has made a significant dip this week, dropping more than 11% and returning levels not trades since August 2021. Etheruem price hits new three-month lows, threatens a return to the $2,300 value area. XRP price looks determined to push lower to the $0.65 support zone before generating another bull run.

More Cryptocurrencies News

Loopring, NEAR and Harmony among the biggest losers as crypto bloodbath intensifies

Altcoins suffered double-digit losses in the recent crypto bloodbath. The recent spike in altcoin prices was followed by a correction for Loopring, Harmony and NEAR. The losses nursed by altcoins were accompanied by a wave of selling pressure across exchanges. 

More Cryptocurrencies News

Shiba Inu price set to crash by 70% as critical support weakens

Shiba Inu (SHIB) price continues to be controlled by bears after the dead-cat bounce in stock markets yesterday evening. With the Nasdaq closing sharply lower, giving up earlier gains, cryptocurrencies are being dragged into a selloff on its coattails, and bearish headwinds  persist. 

More Shiba Inu News

Crypto.com Price Prediction: CRO ready to return to $0.25

Crypto.com Coin (CRO) is withstanding the current market headwind not that great. It has already lost over 50% of its value from the highs, and CRO could be set to lose another 30% as essential support is being breached.

More Crypto.com News

Bitcoin: BTC may capitulate to $30,000

Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

Read full analysis

BTC

ETH

XRP