Highest Valued Cryptocurrencies Continue with their Downtrend, Cardano Loses 6.89% in Past 24-hours

As the running week lands into its weekend, the situation for major cryptocurrencies still looks dull. After experiencing a slight surge in price in the past few days, the past 24-hours have not demonstrated positive performance for major cryptocurrencies.

As always, Bitcoin is on top of the list with over $1.04 trillion valuations, and it has lost 2.94% in its price in the past 24-hours. After the drop, its price is at $54,914.53, which is lower than what the fib graph had predicted for the digital asset just yesterday. With the recent drop, the weighted plunge experienced by Bitcoin in the past 30-days has reached 11.90%.

Although Bitcoin is still above the trillion mark in terms of valuation, the CoinMarketCap data shows that its valuation has dropped by 2.71% in the past 24-hours. The performance graph for BTC since the beginning of December shows it has lost over 5.4% in value.

The drop rate in the past 24-hours has slightly pushed the relative strength index (RSI) for BTC to the bearish side. However, the upcoming developments in Bitcoin, mainly ETF launches, may help it grow in size in the upcoming days.

After Bitcoin, it is Ethereum (ETH) that is also experiencing a downtrend in its price. The data from CoinMarketCap shows that its price has plunged by 3.07% in the past 24-hours, bringing it down to $4,358.29 per ETH. From the beginning of December until now, the price of Ethereum has experienced over a 7.5% drop.

When it comes to the valuation of Ethereum, it has dropped by 3.46% in the past 24-hours, coming down to $515,801,637,842. As for the trading volume, it has experienced over a 6.7% drop in the past 24-hours, dragging it down to $21,382,724,034.

Despite the recent dive, Ethereum’s performance in the past 30-days has been better than Bitcoin, experiencing just a 4.20% drop in price in the past 30-days. This is the reason why the RSI for ETH remains above the mid-line between the bullish/bearish-trend. If Ethereum’s price finds further resistance at $4.3k per ETH and lowers, the RSI for ETH may move into the bearish zone.

Next up is Cardano (ADA) that has reportedly lost almost 7% in its value in the past 24-hours. For Cardano, the dip started back in early September, when its rallies were injected via the mainnet deployment and the Cardano summit ended.

It was on September 2, 2021, when Cardano experienced its all-time high of $3.10 per ADA. From that point onwards, ADA has continued losing value in its price, and from September 2, until December 3, it has lost over 48.32% in its value. In the past 30-days, ADA has lost almost 22% in value, bringing its price to $1.60 per ADA. Even its trading volume has plunged by 21.49% in the past 24-hours, currently standing at $2,686,517,367.