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The correction has continued on the cryptocurrency market as most of the coins are in the red zone.
BTC/USD
The rate of Bitcoin (BTC) has declined by 0.56% over the last 24 hours.
On the daily chart, the price of Bitcoin (BTC) has once again failed to fix above the $24,000 mark. If buyers cannot seize the initiative until the end of the day, there is a high possibility of seeing the test of the nearest support level at $23,369 shortly.
Bitcoin is trading at $23,796 at press time.
ETH/USD
Ethereum (ETH) is the biggest loser from the list today, falling by 1.16%.
From the technical point of view, Ethereum (ETH) is trading similarly to Bitcoin (BTC) as the price is slowly approaching the support at $1,595. If the candle closes with no long wicks, traders may expect the test of the $1,600 area on the weekend.
Ethereum is trading at $1,638 at press time.
XRP/USD
XRP is no exception to the rule, going down by 1.02%.
XRP is also rather more bearish than bullish as the price is fixing below the $0.39 mark. Thus, the volume is low, which means that buyers are not ready to buy the coin at the current levels. In this regard, a drop below $0.37 is the more likely scenario until the end of the month, as enough energy has been accumulated for such a move.
XRP is trading at $0.3842 at press time.
Alex Dovbnya
Godfrey Benjamin
Vladislav Sopov
Dan Burgin