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Most of the coins keep updating new local lows, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has dropped by almost 10% since yesterday.
On the daily chart, the price of BTC has made a false breakout of the support level of $53,550. If the candle closes far from this mark, traders may witness a local bounce back to the $56,000 zone soon.
Bitcoin is trading at $54,291 at press time.
ETH/USD
Ethereum (ETH) is more of a loser than BTC, falling by 15.97%.
From the technical point of view, the price of ETH has bounced off the support level of $2,132.
Denys SerhiichukEven though it is early to think about a reversal, if the bar closes far from that mark, bulls may locally seize the initiative, which may soon lead to a test of the $2,600-$2,800 range.
Ethereum is trading at $2,401 at press time.
XRP/USD
XRP is not an exception to the rule, declining by 8.88%.
On the daily time frame, the rate of XRP has tested the $0.45 zone. At the moment, one should focus on the vital area of $0.50. Until the price is below it, bears remain more powerful than bulls. In this case, the fall might continue to the $0.40 mark.
XRP is trading at $0.4794 at press time.
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov