Do bulls have any chances to seize the initiative against bears’ pressure?
Bears seized the initiative on the last day of the week, turning all of the top 10 coins back to the red zone.
The rate of Bitcoin (BTC) has declined by 11.21% over the last seven days.
On the weekly chart, Bitcoin (BTC) is about to close below the previous low at $19,616. Thus, the selling volume remains high, confirming bears’ power.
If nothing changes by the end of the day and the price stays below the $19,000 mark, there are chances to see a test of the nearest support level at $17,592 next week.
Bitcoin is trading at $18.981 at press time.
Binance Coin (BNB) has fallen the least today as the drop has made up 0.49%.
Binance Coin (BNB) is looking better than Bitcoin (BTC) on the weekly time frame as the price has not updated the recently formed support level at $205. From another point of view, the native exchange coin has not accumulated enough energy for a rise, which means that sideways trading between $210 and $240 is the more likely scenario for the upcoming days.
BNB is trading at $214.7 at press time.
Cardano (ADA) is the biggest loser today, as the price has gone down by 12.85% for the week.
Cardano (ADA) is following the fall of Bitcoin (BTC) as it is on the way to the support level at $0.3974. From the technical point of view, the altcoin has accumulated enough strength for a continued fall, so one can expect a drop below $0.40 soon.