The cryptocurrency market could not withstand bears’ pressure, and almost all coins are in the red zone again.
The rate of Bitcoin (BTC) has gone down by almost 9% over the last 24 hours.
On the daily chart, Bitcoin (BTC) has broken the $23,000 mark, as well as the support level at $22,400. Currently, one needs to pay attention to the closest level at $20,700. If the false breakout happens, there are chances to see a bounceback. However, it is too early to think about a midterm bull run.
Bitcoin is trading at $21,420 at press time.
Ethereum (ETH) has lost more than Bitcoin (BTC) with a drop of 9.1%.
Ethereum (ETH) has also broken its vital level at $1,785. If the rate does not return above the $1,700 mark and fix there, the drop may continue to the support at $1,594 until the end of August.
Ethereum is trading at $1,688 at press time.
XRP is the biggest loser from the list, going down by 10% since yesterday.
XRP has broken the $0.3635 level, which means that bears have seized the initiative. At the moment, the more likely scenario is a further drop to $0.32 if buyers cannot restore the price above $0.34 soon.
XRP is trading at $0.3360 at press time.