Over the past day, prices on the cryptocurrency market collapsed by more than 50%
BTC / USD
Last weekendcrypto market capitalization fell by $40 billion, andyesterday, this figure decreased by another $50 billion. The price of Bitcoin lost about 25% during the day, breaking through all the nearest support levels. At night, the pair continued to fall and the annual minimum was set at 3850.00 USD. As a result, within a day the price of BTC fell by more than 50%.
This morning, after re-testing the lower limitblue corridor of the global downtrend, the fall stopped and the price rebounded to the area of five and a half thousand dollars. However, the price will not be able to stay in this zone. The pair is gradually rolling back to the psychological level of 5000.00 USD.
We believe that today the price of BTC may findsupport in the area of 4900.00 USD and significantly reduce volatility. We believe that before the end of this week the pair will consolidate within the lower border of the blue channel of the downward trend.
ETH / USD
The price of Ethereum fell by about 55% in 24 hours.Tonight the yearly low was set at 88.20 USD, just before the zero fibonacci level (80.90 USD). The last time the price of ether pulled back into this area was in December 2018.
In the morning, the pair rebounded to the area of 150.00 USD, but it is not possible to gain a foothold in this area, and the pair is gradually rolling back to the support of the 23.6% fib level (114.43 USD).
We believe that today the amplitude of fluctuations will decrease significantly and the pair will be able to stay above the psychological mark of $100 per coin.
XRP / USD
This week the Bitstamp exchange recordedthe largest trading volume on Ripple in history. Tonight, the price of Ripple set a three-year low at 0.114 USD. This is the level of spring 2017. Since then, the price has never fallen so low.
Tonight there was a fairly high rebound to the 0.170 USD area, but now the pair is in the 0.140 USD area, and we believe that here the XRP price will be able to gain a foothold in consolidation.
* All price values are based on data from the BitStamp exchange