Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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.
Denys SerhiichukSuch 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.
Alex Dovbnya
Vladislav Sopov
Dan Burgin