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Is the ongoing cryptocurrency market correction coming to an end?

Is the ongoing cryptocurrency market correction coming to an end?
Written by publisher team

The new week started with a renewed market correction, with all top 10 coins in the red.

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Bitcoin / US Dollar

Bitcoin (BTC) price is down about 2% since yesterday.

BTCUSD

BTC/USD chart by TradingView

The main cryptocurrency fixed below the green support line at $41967, which means that the bears are in control of the situation at the moment. The strength of the sellers is also confirmed by the increased trading volume.

If this pressure continues and BTC drops below the $40,000 vital sign, there will be a change in price vision around $35,000 soon.

Bitcoin is trading at $40,745 at the time of writing.

ETH / USD

Ethereum (ETH) is the biggest loser on the list, down 2.92%.

ETHUSD

ETH/USD chart by TradingView

Despite the decline, Ethereum (ETH) made a false breakout of the support level at $2,897. Until the price falls above it, the bulls have the opportunity to seize the initiative and try to regain the upside.

However, if the daily candle is fixed below the psychological level of $3000, there could be a sharp drop to $2,410 over the coming weeks.

Ethereum is trading at $3,008 at the time of writing.

XRP / US Dollar

XRP also followed the decline of BTC and ETH, losing 2.61% of its price share in the past 24 hours.

XRPUSD

XRP/USD Chart by TradingView

However, sideways trading remains the most likely scenario for the coming days as the price is located in the wide range between the support at $0.652 and the resistance at $1.01, and at the moment the price is closer to the support, and in case the level is broken. The decline could lead to XRP reaching $0.50 soon.

XRP is trading at $0.7278 at the time of writing.

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