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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.
Yuri Molchan
Vladislav Sopov
Dan Burgin
Alex Dovbnya