As a seasoned crypto investor with a knack for navigating market turbulence and understanding the ebb and flow of digital assets, I find myself somewhat disheartened by today’s dip. The weekend’s bullish surge seemed promising, but alas, the bears have once again proven their mettle.
Bulls have failed to hold the weekend’s rise, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 2.45% over the past day.
In simpler terms, on the day-to-day graph, the downward trend (bears) seems stronger than the upward trend (bulls). If today’s price closes close to its lowest point, the decline might extend towards the $57,000 zone. This situation could persist until the end of the week.
Bitcoin is trading at $58,529 at press time.
ETH/USD
The price of Ethereum (ETH) has followed the decline to BTC, going down by 4.46%.
Technically speaking, we don’t see any signs of a reversal just yet. But if today’s trade ends near the current price level, there might be a temporary rebound towards the $2,400 region.
Ethereum is trading at $2,302 at press time.
XRP/USD
XRP is the least loser today, as its rate has declined by 2.2%.
As a crypto investor, I’m closely watching XRP‘s daily chart. Currently, it seems like the price is attempting to revert back to its previous bullish trend. However, traders should keep an eye out for potential reversals if the rate manages to reach and hold above the crucial level of $0.60. If that happens, there might be enough accumulated momentum for a push towards $0.64.
XRP is trading at $0.5727 at press time.
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2024-09-16 18:33