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Bulls have failed to hold the weekend's rise, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 2.45% over the past day.
On the daily chart, bears are more powerful than bulls. If today's bar closes near its low, the fall is likely to continue to the $57,000 range. Such a scenario is relevant until the end of the week.
Bitcoin is trading at $58,529 at press time.
ETH/USD
The price of Ethereum (ETH) has followed the decline to BTC, going down by 4.46%.
From the technical point of view, there are no reversal signals yet. However, if the daily candle closes around current prices, one can expect a local bounce back to the $2,400 zone.
Ethereum is trading at $2,302 at press time.
XRP/USD
XRP is the least loser today, as its rate has declined by 2.2%.
On the daily time frame, the price of XRP is trying to return to its previous bullish trend. However, traders may think about a reversal only if they get the rate back to the vital area of $0.60 and fix above it. In that case, the accumulated energy might be enough for a move to $0.64.
XRP is trading at $0.5727 at press time.
Godfrey Benjamin
