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The correction continues on the market, as all of the top 10 coins are in the red zone.
BTC/USD
The price of Bitcoin has declined by 1.61% over the last 24 hours.
On the daily chart, the rate of BTC has made a false breakout of yesterday's bar low. However, if the candle closes near it or even below, the decline may continue to the nearest support level of $38,500.
Such a scenario is relevant until the end of the week.
Bitcoin is trading at $41,091 at press time.
ETH/USD
The rate of Ethereum (ETH) has fallen by almost 2% since yesterday.
From the technical point of view, ETH is looking more bearish than Bitcoin. Currently, one should focus on the bar's closure. If this happens around $2,131, the drop may continue to the $2,050-$2,100 zone soon.
Ethereum is trading at $2,173 at press time.
XRP/USD
XRP is not an exception to the rule, going down by 3.07%.
On the daily chart, the rate of XRP is coming back to the support level of $0.5860. If the candle breaks it and closes below, the accumulated energy might be enough for a more profound drop to the $0.55 zone.
XRP is trading at $0.6039 at press time.
DOGE/USD
DOGE is the biggest loser today, falling by 3.47%.
Despite a sharp decline, the price of DOGE is far from the main levels, which means that neither bulls nor bears have seized the initiative yet. Such a statement is also confirmed by the low volume. In this case, sideways trading in the area of $0.09-$0.095 is the more likely scenario until the end of the week.
DOGE is trading at $0.09285 at press time.
Arman Shirinyan
Mushumir Butt
