According to CoinStats, the cryptocurrency market is in decline today.
BTC/USD
Bitcoin (BTC) price fell by 0.38% in the past 24 hours.
On the hourly chart, the rate of BTC is rising after a false breakout of the local support at $86,718. If buyers can seize the initiative they have gained, we can expect a test of resistance by tomorrow.
Over a longer time frame, the situation is less bullish. The prices of the major cryptocurrencies are far from their major levels, which means that neither buyers nor sellers have enough energy to soar.
This is also confirmed by the drop in volume. In this case, a sideways trade in the $86,000 to $89,000 range is the most likely scenario.
The situation is similar from a medium-term perspective. With neither side in the ascendant, traders are unlikely to see increased volatility for the rest of the month.
At the time of writing, Bitcoin is trading at $87,306.
