Bears have seized the initiative, turning all top 10 coins into the red zone.
The rate of Bitcoin (BTC) has declined by 2.72% over the last 24 hours.
Bitcoin (BTC) could not fix above the $40,000 mark, confirming bears' power. If the decline continues and the rate touches $38,000, the drop may lead the price of the first crypto to the zone around $36,000. Such a scenario is relevant until mid-May.
Bitcoin is trading at $38,924 at press time.
Ethereum (ETH) has fallen the least from the list today. The decline has made up 2.52% since yesterday.
Analyzing the daliy chart, Ethereum (ETH) is looking more bearish than Bitcoin (BTC). The price is about to test the local blue level at $2,774.
If the daily candle fixes below it, the main altcoin may face a sharp drop to the zone of $2,500-$2,600 soon.
Ethereum is trading at $2,852 at press time.
XRP is the biggest loser today, going down by 3.32%.
Bears have continued their pressure since yesterday against the increased trading volume. At the moment, there are no signals for a market reversal, which means that there is a high possibility to see a further drop. If sellers break the $0.60 mark, the fall may continue to the nearest support at $0.54.
XRP is trading at $0.6196 at press time.