As a seasoned crypto investor with several years of experience under my belt, I’ve seen market swings like these before. The bearish trend that has taken hold at the beginning of this week is not new to me, and I’m prepared for it. The price of Bitcoin (BTC) decreasing by 1.28% since yesterday is a reminder that even the most stable coins can experience volatility.
Bears have seized the initiative at the beginning of the week, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has decreased by 1.28% since yesterday.
On a day-to-day basis, Bitcoin’s price has been decreasing following an unsuccessful effort to surpass the $70,000 threshold. If the daily candlestick closes below yesterday’s minimum, the correction could extend down to approximately $66,000 by week’s end.
Bitcoin is trading at $68,048 at press time.
ETH/USD
Ethereum (ETH) is following the drop of Bitcoin (BTC), going down by 1.61%.
The cost of Ethereum (ETH) appears more optimistic than Bitcoin (BTC) right now. It’s essential to keep an eye on the latest resistance level at $3,993. If this barrier is breached, it could trigger further growth towards the $4,000-$4,100 range. This situation remains relevant until the end of this month.
Ethereum is trading at $3,880 at press time.
XRP/USD
XRP is not an exception to the rule, declining by 0.85%.
Although XRP has experienced expansion recently, it hasn’t reached significant milestones, indicating that neither party holds a definitive advantage at present. Consequently, investors might anticipate continued price action around the $0.53 to $0.55 range over the coming days.
XRP is trading at $0.53 at press time.
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2024-05-28 18:04