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 new week has begun with the continued correction of the cryptocurrency market.
ETH/USD
Ethereum (ETH) is more of a loser than Bitcoin (BTC), going down by 2.82%.
On the daily chart, Ethereum (ETH) has entered the bearish zone, breaking the support of $1,501. If the situation does not change by the end of the day, the drop may continue to the next level at around $1,400. Such a scenario is relevant until the end of the current week.
Ethereum is trading at $1,479 at press time.
XRP/USD
XRP is no exception to the rule, falling by 3.67% over the last 24 hours.
XRP is trading near the support level at $0.3685 on the daily time frame. At the moment, one should pay close attention to the closure. If it happens above that mark, there is a chance to see a bounce back to the $0.38 zone. In another case, the breakout of the support may lead to a sharp drop to $0.35 shortly.
XRP is trading at $0.3691 at press time.
Vladislav Sopov