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Monday has begun with the fall of the cryptocurrency market as all of the top 10 coins are in the red zone.
BTC/USD
Bitcoin (BTC) has fallen the least today, going down by 4.28% over the last 24 hours.
Bitcoin (BTC) has dropped below $40,000, having confined the local bearish trend. The price decreased has been accompanied by increased selling volume, which means that there is a high chance to see a further downward move. In this case, there is a chance to see the test of the $38,000 mark soon.
Bitcoin is trading at $39,378 at press time.
ETH/USD
Ethereum (ETH) is following the decline of BTC, declining by 6.79% since yesterday.
Ethereum (ETH) has also dropped the psychological mark of $3,000 on the daily chart. At the moment, one needs to pay close attention to the nearest support level at $2,774. If buyers can hold, one can expect a bounceback to $3,000-$3,200. In another case, the breakout may lead to the rate of $2,300 per ETH.
Ethereum is trading at $2,925 at press time.
XRP/USD
XRP is the biggest loser from the list, falling by almost 7%.
After a failed attempt to get to the $0.80 mark, XRP has continued its fall. At the moment, the price is located close to the support level at $0.6959, which means that bears are more powerful than bulls. In this regard, the more likely scenario is the test of the support levels shortly.
XRP is trading at $0.7450 at press time.
Vladislav Sopov
Dan Burgin