Can Bitcoin (BTC) and other top coins recover after today’s drop or should we expect a continued drop?
Bears have smashed the bulls out of the market today as all of the top 10 coins are in the red zone.
BTC / USD
Bitcoin’s (BTC) rate has fallen 7.19% in the past 24 hours.
Bitcoin (BTC) has bounced back to the support zone at $60,000. The decline is supported by a high sales volume, which means that the decline can continue.
However, if bulls can consolidate and stay above the support, there is a chance to see the test of the recently formed mirror level at $62,294 by the end of the week.
Bitcoin is trading at $ 60,771 at the time of publication.
ETH/USD
Ethereum (ETH) is the biggest loser from the list today as the rate of the native exchange coin has gone down by 8.19% since yesterday.
Ethereum (ETH) has also bounced off support and is currently trading around the $ 4,300 area. The volume is high, which means that the fall might not be stopped. In terms of the closest price projection, the major altcoin could test the zone at $ 4,500, followed by a continued decline.
Ethereum is trading at $4,301 at press time.
XRP / USD
XRP was no exception, down 6.54%.
XRP has tested the zone of the most liquidity around $1.0787, followed by a fast bounceback.
Right now, the bears have taken the initiative; however, they need to break the vital support level at $ 1.01488 and fix it below to confirm their power against the bulls.
XRP is trading at $1.1080 at press time.
