The new week has started with a correction of the cryptocurrency market, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has declined by 1.08% since yesterday.
On the daily chart, the rate of BTC is falling after yesterday's bullish closure. If today's bar closes below $69,500, traders may expect a test of the $68,000 zone soon.
Bitcoin is trading at $69,616 at press time.
ETH/USD
Ethereum (ETH) has followed the drop of BTC, going down by 2.07%.
From the technical point of view, Ethereum (ETH) is trading similarly to BTC as bears are also trying to seize the initiative. At the moment, one should pay attention to the interim level of $3,400. If it breaks out, the drop is likely to continue to the $3,200-$3,300 zone.
Ethereum is trading at $3,537 at press time.
XRP/USD
XRP is the biggest loser today, going down by 2.57%.
On the daily time frame, the price of XRP is once again testing the support level of $0.60355. If the bar closes near or below that mark, the accumulated energy might be enough for a blast to the $0.58 area.
XRP is trading at $0.6077 at press time.