Despite yesterday’s growth, the bulls were unable to hold the initiative and the market was faced with a strong dumping.
BTC/USD
The price of Bitcoin (BTC) has fallen much less than that of other major coins. It has dropped 7.84% in the past day.
On the daily chart, the price broke the critical support at $39.573, confirming the bearish bias. Until the rate stays below this level, the bears will control the situation in the market.
The next area where a short-term bounce is possible is the reflective level at $36.623.
Bitcoin is trading at $38,621 at press time.
DOGE / USD
The DOGE rate has fallen much deeper than Bitcoin (BTC), down 7.86% since yesterday.
DOGE has fallen for six consecutive days with no signs of recovery. For now, a sideways trade is the more likely scenario until the price breaks through the $0.1310 support.
However, if the bear pressure continues and the daily candle fixes below, one can expect a further drop to $0.10.
DOGE is trading at $0.1516 at press time.
SHIB / USD
SHIB was the biggest loser, nearly 8%.
From a technical point of view, one needs to keep an eye on the support at $0.00002537 as if the price breaks it down, a drop could take the SHIB to the area around $0.00002010 in the short term.
SHIB is trading at $0.00002552 at press time.
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