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.
The new week has started with a dump on the cryptocurrency market.
BTC/USD
The rate of Bitcoin (BTC) has declined by 4.36% over the last 24 hours.
On the daily chart, the price of BTC has once again failed to fix above the $44,000 zone. At the moment, sellers have locally seized the initiative. If bulls lose the area of $40,000, there is a high chance to see a test of the support level of $38,437 soon.
Bitcoin is trading at $41,840 at press time.
ETH/USD
Ethereum (ETH) has followed the drop of Bitcoin (BTC), going down by 5.12%.
The rate of ETH has almost tested the support of $2,131. Until the price is above that mark, bulls have the chance for a bounce back. However, if buyers lose it, the correction may continue to the important zone of $2,000 shortly.
Ethereum is trading at $2,224 at press time.
XRP/USD
XRP is not an exception to the rule, falling by 5.89% since yesterday.
From a technical point of view, XRP is looking more bearish than BTC and ETH. If the decrease continues to the support of $0.5860, the accumulated energy might be enough for a dump to the $0.56-$0.58 area.
XRP is trading at $0.6168 at press time.
Alex Dovbnya
