The new week has begun with a correction on the cryptocurrency market as most of the coins have returned to the red zone.

Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has fallen the least from the list today with a decline of 4.50%.

BTC/USD chart by TradingView

Bitcoin (BTC) has made a breakout of the $22,400 mark on the daily chart, confirming buyers’ weakness and lack of power for a further rise. Thus, the leading coin is below $22,000, which means that bears have locally seized the initiative.

If the situation does not change by the end of the day, there are high chances to see the test of the $21,000 area this week.

Bitcoin is trading at $21,799 at press time.

ETH/USD

Ethereum (ETH) is the biggest loser from the list today as the rate of the main altcoin has dropped by almost 6% over the last 24 hours.

ETH/USD chart by TradingView

After the failed attempt to fix above the $1,600 mark, Ethereum (ETH) is on its way to testing the local support level at $1,476. At the moment, one should pay attention to $1,500. If buyers lose this level, the decrease to the $1,400-$1,450 zone might happen within the next few days.

Ethereum is trading at $1,517 at press time.

XRP/USD

XRP is no exception from the rule, going down by 5.55%.

XRP/USD chart by TradingView

XRP has approached the support level at $0.3434 on the daily chart. The selling volume has increased, which means that bears are more powerful than bulls at the moment. In this case, the more likely scenario is the test of the $0.33 area soon.

XRP is trading at $0.3442 at press time.



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