Most cryptocurrencies have experienced a corrective period within some days of rapid growth. The lone exemption is LUNA, which has gained 3.32 percent in the last 24-hours.
BTC/USD Chart. Source: TradingView
Bitcoin has lost 1.17 percent of its value since 29th March. Notwithstanding a minor drop, Bitcoin is still trading at over $47K, following a fake breakout of this level earlier today. As a result, the buying trade volume is substantial, indicating that bulls aren’t prepared for even a modest correction and continue to build power for a subsequent upward run. In this situation, the assessment of the region’s $49K to $50K might take place by next month. At the time of publication, Bitcoin was traded at $47,277.
ETH/USD Chart. Source: TradingView
ETH has successfully lost 1.56 percent, the leading altcoin, making it more negative than BTC. Ethereum currently trades in the same range as Bitcoin and has likewise recovered from the $3.3K mark. Investors should not be concerned till the rate rises above $3.3K.
At this time, the more probable situation is that the price will keep rising slowly to the next critical milestone of $3,585. It might be put to the test as early as the opening days of next month. As of 3:00 pm today, ETH was traded at $3,395 per coin.
SOL/USD Chart. Source: TradingView
Solana was unable to weather the decline of the other cryptocurrencies, falling 1.12 percent. Notwithstanding the fall in price today, Solana stays optimistic. Buyers are poised to keep the rally going after bouncing back from the $106 mark. By getting the rate to around $120-120, bulls will be well on their way to testing resistance at $130. As of 3:00 pm today, Solana was traded at $112.18.