The cryptocurrency market is experiencing a decline in prices of key assets such as XRP, Ethereum, and Bitcoin. Each of these coins is facing different levels of resistance and support, raising concerns among investors.
XRP Loses the $3 Mark
Today, XRP has officially departed from the $3 mark, trading around $2.92 following a long-term decline from a peak of over $3.70 in July. The $3 level is no longer a significant support and is now more akin to a resistance zone. Trading volume remains moderate, which may indicate weak buying interest.
Ethereum Faces Correction
Ethereum, which peaked just under $4,000, has entered a correction phase. The asset has already dropped nearly 10% from its local peak and is currently trading around $3,620. Support at the 26 EMA may become a crucial point for potential consolidation.
Bitcoin Loses Key Support
Bitcoin has lost the $120,000 mark, which now looks more like a ceiling than a stepping stone. The price has fallen more than 7% from its peak and is currently around $114,798. A decline in bullish sentiment raises concerns, especially given the decrease in buying volume.
The cryptocurrency market shows complex trends, with falling prices for XRP, Ethereum, and Bitcoin. Investors should exercise caution and consider new levels of support and resistance while monitoring future market changes.
