The cryptocurrency market has begun the new week with a decline, as reported by CoinMarketCap. Leading the drop are Bitcoin, Ethereum, and XRP.
Bitcoin Decline
The rate of Bitcoin (BTC) has dropped by 3.56% over the last 24 hours. On the daily chart, the price of BTC is near the important level of $90,866. If it breaks out, the accumulated energy might lead to a move to the $88,000 area shortly. Bitcoin is trading at $91,572 at press time.
Ethereum Decrease
Ethereum (ETH) followed the drop of BTC, going down by 5.88% since yesterday. On the daily chart, one should focus on the bar's closure in terms of the $3,028 level. If it happens near or below it, the correction is likely to continue to the $2,900-$3,000 range soon. Ethereum is trading at $3,084 at press time.
XRP Situation
XRP is not an exception to the rule, falling by 5.1%. Despite today's decline, the rate of XRP is far from the support and resistance levels. However, if today's bar closes near its low, traders may witness a further downward move to the $2.20-$2.30 area. XRP is trading at $2.392 at press time.
Thus, the new week has started with a decline for most major cryptocurrencies, which may signal further price drops.
