Have The Top Coins Reached the Local Bottom?

Have The Top Coins Reached the Local Bottom?

The cryptocurrency market continues to fall, with nearly all currencies in the red. CoinMarketCap values the global crypto market at $2.04 trillion, down almost 2% from yesterday.

BTC/USD

The crypto collapse has retracted Bitcoin. Bitcoin has just risen over $45,000 USD. On Saturday, the price of Bitcoin (BTC) stabilized around $45,000, and on Sunday, purchasers attempted to break over $46,000.

This level was broken, but the volume was light, and the pair could not break the two-hour EMA55. This morning, the BTC price dropped below $45,000. During the day, buyers attempted to break past the average price barrier and test $47,745 again.

However, buyer weakness may trigger another wave of bearish momentum, pushing the price back to $42,447. Ingves stated that Bitcoin and other cryptocurrencies could not escape the regulatory eye as the adoption rises.

The Bitcoin price today is $46,800.44 USD with a 24-hour trading volume of $38,413,281,546 USD as per CoinMarketCap.

ADA/USD

Cardano started 2021 strong, surging over $1.3 in February on public crypto excitement. Ada’s price rose steadily throughout the spring, reaching $2.46 in May. Cardano’s price fell as the overall crypto market trend reversed and prices fell. Since the start of the year, ADA/USD has shown a strong trend with some pullbacks. On Apr 14, 2021, it hit a new high of $1.56.

Cardano (ADA) is the biggest loser today, down 7%. However, sellers have failed to take the initiative as Cardano (ADA) remains above the crucial $2 mark. If bears break it and fix below, the decline may reach $1.30, concentrated on most liquidity.

Today, the Cardano price is $2.39 USD with a 24-hour trading volume of $4,276,089,671 USD as per CoinMarketCap.

BNB/USD

Binance is a worldwide cryptocurrency exchange. It aims to elevate bitcoin exchanges to the global financial forefront.

Binance Coin (BNB) has also dropped in the last day. It fell 4.30 percent. Binance Currency (BNB) has nearly tested the $385 level again, but the native exchange coin is still trading above it. If sellers break out, a severe drop to $340 is possible.

Today, the Binance Coin price is $407.53 USD with a 24-hour trading volume of $1,544,365,353 USD as per CoinMarketCap.

A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.