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The situation is almost unchanged since yesterday as the majority of the coins keep trading in the red zone.
ETH/USD
The rate of Ethereum (ETH) has declined by 4.32% over the last day.
The rate of Ethereum (ETH) has continued yesterday's drop, getting closer to the support level of $1,071. If buyers lose the important $1,100 zone, the accumulated power might be enough for a fall to the $1,000 area.
The following scenario is relevant until the end of the week.
Ethereum is trading at $1,122 at press time.
XRP/USD
XRP is more of a loser than Ethereum (ETH), going down by 7%.
Despite today's sharp fall, XRP is trading in the middle of the wide channel, far away from the key levels. However, the selling volume is high, which means that a further drop is more likely than a bounce back. In this case, the next area at which bulls may seize the initiative is the area of $0.32.
XRP is trading at $0.3511 at press time.
Tomiwabold Olajide
Godfrey Benjamin
Yuri Molchan
