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A new week has started with bears putting the pressure on, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 1.16% over the last day.
On the daily chart, bulls are trying to seize the initiative. However, it is too early to think about a reversal. Even if the candle closes in the green zone, there are low chances of a sharp upward move. Meanwhile, sideways trading in the area of $95,000-$98,000 is the most likely scenario.
Bitcoin is trading at $96,031 at press time.
ETH/USD
Ethereum (ETH) has followed the decline of BTC, going down by 1.51%.
From the technical point of view, the rate of ETH is trading similarly to BTC. The price is far from the main levels, which means neither buyers nor sellers are dominating. Thus, the volume is declining, confirming the absence of energy. All in all, traders are unlikely to see sharp ups or downs in the short term.
Ethereum is trading at $3,349 at press time.
XRP/USD
XRP is not an exception to the rule, falling by 2.63%.
On the daily chart, the price of XRP is looking neither bullish nor bearish. None of the sides has accumulated enough energy yet. If buyers want to restore the lost initiative, they need to get the rate back to the $2.40 area. Only in that case is there a chance to see an ongoing midterm rise.
XRP is trading at $2.2160 at press time.
Arman Shirinyan
Yuri Molchan
Dan Burgin
Alex Dovbnya