Buyers are trying to take the initiative as some coins have returned to the green zone.
BTC/USD
Despite the drop earlier in the day, Bitcoin (BTC) managed to recover, gaining 1.82%.
On the daily chart, Bitcoin (BTC) continues to trade in a wide channel between the $39,573 support and $45,478 resistance. Currently, neither the bulls nor the bears are dominant, which is also confirmed by the low trading volume.
If buyers can approach $43,000 and fixate on it, there is a chance of slight growth to $45,000.
Bitcoin is trading at $42,342 at press time.
ETH / USD
Ethereum (ETH) has gained less than Bitcoin (BTC) as the main altcoin price has increased by 0.32%.
As long as Ethereum (ETH) is trading above the support at $2,987, there is nothing to worry about despite the increased selling volume. However, if the price of the second most popular cryptocurrency falls below $3,000 and stays there, the bears can seize the initiative and continue to drop to the area around $2,800 – $2,900.
Ethereum is trading at $3,134 at press time.
ADA / USD
Cardano (ADA) is the biggest loser today as its share has dropped 3% since yesterday.
Despite the drop, the medium-term picture is neither bullish nor bearish as the price remains above the $1.40 mark. As a result, the drop has been accompanied by increased selling volume, meaning that traders may have fixed their short positions.
If such a scenario turns out to be true, it is likely to see a bounce back to the area around $1.50 soon.
ADA is trading at $1,411 at press time.
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