Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Most of the cryptocurrencies have started the new week with a continued fall, according to their CoinMarketCap ranking.
BTC/USD
The rate of Bitcoin (BTC) has declined by 2.49% over the last 24 hours.
On the daily chart, Bitcoin (BTC) has returned to the bearish zone as the price is below the important zone of $21,000. If buyers cannot seize the initiative soon, the fall may continue to the $20,400 mark. In addition, the volume is low, which means that not a lot of buyers are willing to buy at the current levels.
Bitcoin is trading at $20,710 at press time.
ETH/USD
Ethereum (ETH) is even more of a loser than Bitcoin (BTC), falling by 2.77%.
Ethereum (ETH) has lost the $1,600 mark, making bears more powerful than bulls. At the moment, attention should be focused on $1,500, as its possible breakout might lead to a sharp downward move to the $1,400-$1,450 zone by the end of the month.
Ethereum is trading at $1,578 at press time.
Tomiwabold Olajide
Vladislav Sopov
Dan Burgin
U.Today Editorial Team